2007-09-16 14:56:22 · 11 answers · asked by TGM 1 in Business & Finance ➔ Taxes ➔ United States
It is illegal.
This is my help from Washington, D.C. USA.
2007-09-16 15:04:51 · answer #1 · answered by Anonymous · 1⤊ 1⤋
No, you are not able to change previous tax returns to look better to get a bank loan.
2007-09-16 23:28:20 · answer #2 · answered by dd 4 · 0⤊ 0⤋
Uh..NO! Well, unless the previous tax returns were truly incorrect, in which case you would legitimately file amended returns and pay the taxes, penalties and interest owed to the IRS. You have to furnish factual information to the bank and to the IRS, so it would have to agree!
I'm shocked that anyone would even consider this!!!
2007-09-20 18:20:09 · answer #3 · answered by bamascrappingirl 2 · 0⤊ 0⤋
Yeah, go back and amend the previous years' returns to include all of the income you "forgot", and pay taxes and penalties on it.
Assuming your previous returns are correct, if you fudge them for a loan, you'll get caught. Lenders routinely pull IRS transcripts of your previous returns.
2007-09-17 01:14:17 · answer #4 · answered by tax_man_cometh 2 · 1⤊ 0⤋
So you have been cheating on your taxes and now you can't get a loan? Hope you stashed that money away. When your income suddenly spikes for a few years until you get your loan then falls again do you think the IRS won't notice?
2007-09-18 14:28:48 · answer #5 · answered by daoco 4 · 0⤊ 0⤋
That would be fraud. Its a federal offense and you go to federal prison for several years for that. It would be easily proven because the iRS has your original tax returns. The only way to do it legally is if you had a legitimate reason to amend your tax returns.
2007-09-17 00:28:05 · answer #6 · answered by jeff410 7 · 1⤊ 0⤋
That's considered bank fraud. If it's a national bank -- i.e. if it has "National" in its name or if it has the letters "N.A." after its name -- it's a FEDERAL felony! I can't think of a dumber way to try to get a loan given that it you're caught -- and there's a high chance of getting caught -- there's a long prison term that goes along with it.
2007-09-16 23:12:55 · answer #7 · answered by Bostonian In MO 7 · 0⤊ 0⤋
Of course there is a way. But it would be committing fraud so I can't help you.
You do realize that if you fail to pay it back you could be both criminally and civilly liable? That means no filing bankruptcy on it and possible jail time. Keep it in mind.
2007-09-16 22:17:05 · answer #8 · answered by Gem 7 · 2⤊ 0⤋
If you don't mind committing fraud. But don't be surprised if you get caught and at a minimum turned down for a loan.
2007-09-16 22:22:11 · answer #9 · answered by Judy 7 · 2⤊ 0⤋
Any alteration you make to your tax return would be considered fraud.
2007-09-16 22:04:15 · answer #10 · answered by Gypsy Girl 7 · 5⤊ 0⤋