If somehow the IRS found out that you and your buddies were doing this elaborate stealing-to-borrow plan, they could slap down tax evasion charges on you since that's definitely breaking the spirit of the law.
Yeah, the way I read it this allows them to prosecute tax evasion in addition to theft for all property stolen in the previous years that wasn't declared to IRS as income from illegal activities.
But that's a pretty big if ;)