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Started By
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2
Posted on 12/15/15 at 11:06 am to krehn11
quote:
I am not an expert but to me this sounds like some sort of fraud?
No, Instead of taking the deductions allowed to me by the tax codes of the IRS I would then not claim them at all, and in turn that would raise my net income while paying the IRS more than it deserves.
If they audit they would owe me money.
I'm thinking the best course of action is to amend 2013, then claim what I am due this year, but don't try to max out deductions.
Posted on 12/15/15 at 11:16 am to krehn11
quote:
I am not an expert but to me this sounds like some sort of fraud?
Why would it be fraudulent? OP would just not take deductions he's legally entitled to. I agree with the above poster -- there's no way I'd eat a year's worth of deductions.
quote:
You are artificially inflating your income in order to qualify for a loan.
He isn't. His net income is his net income. He can choose whether or not he wants to reduce that via deductions if he wants to.
This post was edited on 12/15/15 at 11:18 am
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