The question begs, especially for lib tax-n-spendits. Just how can the govt tax this wealth that has been lost for so long? There must be a way, surely. It would probably be fair to let the original owners keep 50% of it. Maybe there’s a way to tax the finders too, whether or not they got a reward.
(sorry, for every Feel Good Friday there will be a lib somewhere trying to pee on that parade, I’m just filling in)
Living in NYC provides a sufficient tax load for the makers who live there.
well, it was just 7 years ago for one thing. If the couple that were robbed took a theft tax loss on the stolen asset, then it makes sense to me that they would need to reverse that tax loss. If they did not take that loss, then I would not see why any tax would be imposed on this. Did the article mention tax due?
If the neighbors had home owner’s insurance reimburse them for this stolen property, will they have to pay it back?
Look at what the Gestapo did when Mel Fisher and his crew discovered the wreck of the Atocha. They basically confiscated everything, even though Fisher had spent years and millions searching for it.
But they graciously “loaned” him a few pieces so he could show them off.
So much for “finders keepers.”
The good deed done by returning valuables burglarized years ago, may have been undone by the publicity.
Not only will the taxmen be looking at it as possible undeclared income, but insurance companies will be looking for paid off home insurance claims for burglaries.