Pineapple Express: Someone Is Wrong on the Internet?

[TiQuinn]

Is the $10 million tax free? Inquiring minds want to know.

 

[soviet]

Is the $10 million tax free? Inquiring minds want to know.

'Hello a strange man with a time machine gave me $10 million dollars, I would now like to ask the tax authorities what my liability is, no it does not come from unlawful conduct why do you ask'

 

[TiQuinn]

'Hello a strange man with a time machine gave me $10 million dollars, I would now like to ask the tax authorities what my liability is, no it does not come from unlawful conduct why do you ask'

These are IMPORTANT questions! GAWD, people!

 

[payn]

Karaoke night (im 46 today not 64)

 

[billd91]

"How did that happen?" someone asks.
And I realize that I hadn't even noticed it happening.

 

[trappedslider]

I get that we're all nerds and so must overthink even the simplest questions, but you're all putting way too much thought in the question.

 

[dragoner]

One word: lottery.

 

[Ryujin]

I get that we're all nerds and so must overthink even the simplest questions, but you're all putting way too much thought in the question.

What do you mean, "Putting too much thought into the question?"

 

[gnarlygninja]

Fair enough, but if it's the money that's swaying you...it would be trivial for a 6-year-old with adult intellect and the ability to predict the future to make far more than $10 million.

The money is very much not what's swaying me, option A could have been 'you get a ham sandwich' and I'd still choose that because being an adult trapped in a child's body (and perceived as one by everyone else) would be horrifying. Just the lack of agency children have over their own lives would be miserable to go back to.

'Hello a strange man with a time machine gave me $10 million dollars, I would now like to ask the tax authorities what my liability is, no it does not come from unlawful conduct why do you ask'

This is probably one of those things where the reality is so complicated that what I'm about to say is completely incorrect, but I'm under the impression that the IRS doesn't care about the source of your income as long as you're actually paying them what you owe.
But I'm not an expert so if a time traveler ever gives you a sack full of money, talk to a lawyer. Or a doctor.

 

[soviet]

This is probably one of those things where the reality is so complicated that what I'm about to say is completely incorrect, but I'm under the impression that the IRS doesn't care about the source of your income as long as you're actually paying them what you owe.
But I'm not an expert so if a time traveler ever gives you a sack full of money, talk to a lawyer. Or a doctor.

Not everyone lives in the US, not even everyone that's been gifted $10 million.

However, it is true that any income can in principle be taxed. This doesn't legitimise it though, so you would still be vulnerable to asset seizures and similar. You would also be vulnerable to being de-banked if the bank is not satisfied with their explanation of where the money comes from. Especially if you've written 'Time traveller refusenik, possible drug dealer' on your tax returns.