The following is filed under “Other Income” in the rules about reporting on your taxes.
“Stolen property. If you steal property, you must report its fair market value in your income in the year you steal it unless in the same year, you return it to its rightful owner.”
So, no it’s not okay to steal. However, if you do steal, you need to let the IRS know so that you can pay taxes on the items that you stole – unless, of course, you return the item to the original owner on the last day of the year that you stole it: then you don’t have to report this income.
There is more:
“Illegal activities. Income from illegal activities, such as money from dealing illegal drugs, must be included in your income on Form 1040, line 21, or on Schedule C or Schedule C-EZ (Form 1040) if from your self-employment activity.”
Any questions?
If you don’t believe it, check it out yourself: http://www.irs.gov/publications/p17/ch12.html