Loans Aren't Taxed By IRS, But Disguised 'Loans' Can Be Criminal
If you borrow $10,000, is it taxable income? No, since you have to pay it back, it does not count as income—if it’s a real loan. But IRS audits what is a loan.
United States Davidv Erickson Halstead Bay Holdings Department Of Justice A Department Of Justice Tax Evasion
Source: forbes.com