There is no such thing as “found money” as far as the IRS is concerned, says the Association of Mature American Citizens.
There are several cases on the books that prove the notion and Forbes magazine reported on two of them recently. In one instance, a man found $5,000 inside of a used piano he’d bought for $15. In another, a couple discovered gold coins worth $10 million buried on property they owned. On both occasions, Uncle Sam sent the tax man to claim his cut.