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Legal Question

Someone I know told me a year or two ago that they’d had an employee steal money from them, to the tune of around $20k. He terminated the employee and, he claims, added up all that the employee had embezzled and submitted a 1099 to the IRS for that amount. In other words, report the stolen amount as money he paid to the employee, so IRS would come after the employee for the tax bill.

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