Lying about your income for a business loan...
 

Would you lie about your income to get accepted for a business loan? Does the IRS look at it? Does the bank care as long as they get their money back?

Does the word fraud mean anything to you?

no? why would you? it would be a STUPID thing to do. IRS will be knocking on your door soon if you claim you earn double but only pay taxes on half of it :)

I don't see the point. They'll want to see your tax returns to prove that you can pay back the loan.

go for it

If you have the next 10 to 20 years of your life free, then go ahead.


But please send us photos of your new boyfriend Bubba!

That called loan fraud. Banks are FDIC insured so its considered a federal level crime that the FBI investigates and a US Attorney will prosecute.

Lots of people lie obviously and most never get caught, but if you do you're looking at about 5 to 15 years behind bards depending on the amount involved.

There was just an idiot down here in the news that got 6 years for inflating his income on several mortgage applications.

you will get in big trouble ... don't do that

Not cool