@Anonymous wrote:
@thornback wrote:
@kerplunk wrote:I imagine that someone who hasn't filed or paid their taxes in three years would already be red-flagged by the IRS.
Not if you file simple taxes and are due a refund. You can go without filing for 3 years in those cases. Many single filers with no property ownership can do this without penalty - and many do. IRS knows whether or not you owe because they receive their own copies of tax docs/taxable income.
Which would in itself be motivation to file, yes? IMO, whether you owe or are due a refund it's best to file annually. And if you owe, earlier the better to avoid fees.
As per this issue, it seems one should definitely file every year for POI purposes. At least until they loosen up to accept pay stubs as POI.
The question wasn't whether or not one is motivated to file. My response was with regard to being "red-flagged by IRS" for failure to file.
To uour second point: I file every year but still unwilling to provide a 4506t so I can keep a credit card. To each is own.
@Anonymous wrote:True, I'm still not sure where I land on the issue. And probably won't until hit with it, and it depends on which Lender it's through. If it's Discover, I'd likely comply as that's my largest CL ATM. If it's some other random Bank with only $5-10K CL I'd possibly refuse it.
I don't see why they just won't allow W-2's though, it's the next best thing to IRS docs.
My biggest problem with Disco's request was their use of Equifax as a service to obtain the docs. They don't go directly through IRS. I may have considered allowing it if the data was directly transferred from IRS to Disco... then again, I likely still would have declined because it's a privacy overstep. As you said - w-2s should suffice.
@Anonymous wrote:
Their reasoning is simple - you can't fake info that comes straight from the IRS.
Of course, you're right.
