Here's Why You Shouldn't Fake Income Verification

Lying about your finances can have an enormous impact on your career and your professional reputation. Learn why you shouldn't fake income verification here.

We all know that tax season is the best time to verify your income.

 
But if you don't like the results, getting a loan with fake pay stub verification may seem like the easiest way out. However, those who choose to take this route are dead wrong.
 
Thinking about forging pay stubs anytime soon? Trust us, there are several ways to tell if your paychecks are real or fake.
 
That being said, lying about your finances can have an enormous impact on your career and your professional reputation. Learn why you shouldn't fake income verification here!
 
Fake Pay Stubs Can Get You Audited
 
Here's the deal. If you work at a legitimate job, chances are that you receive a W-2 or 1099 to file with the IRS every single year. That means that the government knows how much money you make in the first place.
 
On top of that, accepting unreported checks or cash can end up triggering the IRS as well. Unfortunately, fake pay stubs can get you audited by the government too.
 
What happens when you get audited, you ask?
 
The answer is simple. Once the IRS conducts an audit, you can expect your financial records and your taxes to be reviewed extensively.
 
Even though there's a small risk of this occurring, it's not worth taking any unnecessary chances.
 
As if that's not enough, auditing typically takes a long time due to:
  • In-person interviews
  • Years of financial documentation
 
To make matters worse, you're probably going want to want to hire an attorney to help you deal with this in court. Of course, legal fees will also cost you a pretty penny!
 
Fake Pay Stubs for Mortgage = No Contract
 
Planning on buying a home or car?
 
Sadly, failing to report your income properly will throw some major curveballs into your plan. Whether you are applying for a loan or trying to buy a house, you could potentially lose your contract once they realize that you won't be able to pay it back.
 
When banks and mortgage companies take a look at your paperwork, they check your total income via your past tax returns. So, if you provided a false income, you'll automatically be rejected for any loan that you apply for. As a result, your financial standing might get severely damaged in the process.
 
To put it simply, "tax fraud" is an actual crime that has serious consequences. The amount of money that you may save upfront can cost you tens of thousands of dollars in the end when you add up:
  • Auditing
  • Penalties
  • Fines
Fortunately enough, the only thing that you have to do is report your income accurately to avoid all of this. Simply search online to find the perfect paystub template for you!
 
You Don't Have to Fake Income Verification
 
What's the bottom line?
 
When it comes to fake income verification, it's not a risk worth taking, especially when you consider the consequences.
 
On the hunt for more financial ideas?
 
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