What is an Income Tax Verification
May 22nd, 2010
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Question: financial aid verification
i completed my 2008 fafsa with a different tax forms from what i reported with the irs.i filled head of household with the irs but used a different one,married filing seperate, for my fafsa. i did not understate my income even on the fake one. i was selected for verification and i am regretful i used the fake one. would i be found out? and what could happen?
Answer: Oh my goodness! That is fraud! and you can get into big trouble with that! If they do put one and one together they have to report you to the US department of education and you probably won’t be able to receive financial aid ever again. And what one earth made you do that? Honestly! And sometimes the US dept of Ed will make you pay back past years if they find out that you’ve done it more than once. And believe me it’s happened. Best case scenario is that the processor will just correct the errors that you made. These funds come from the federal government and they do NOT play games with it. You can’t even claim bankruptcy on your loans! That was not a smart thing that you did.
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