NODE ff393c22just what we #$%^&* needed from big brother....
attila@primenet.comMon, 4 Nov 1996 11:38:46 -0800 (PST)
Welcome to 1984+ what else with useless and illegally constituted
bureaucrats add to their total infringement of every facet of our life.
-.NEW SYSTEM LINKS LENDERS, IRS
-.The Internal Revenue Service is developing an electronic program to link
-.mortgage lenders with the IRS, allowing them to exchange e-mail comparing
-.stated earnings on the mortgage application with actual tax return
-.information for the previous couple of years. If the cross-check turns up a
-.more than $10,000 discrepancy between the earnings claimed on the application
-.and those declared for tax purposes, the IRS has the option of pursuing the
-.loan applicant via an audit. IRS has targeted the system at self-employed
-.borrowers, who often declare high earnings in order to qualify for a larger
-.loan, but lower earnings when it comes to paying taxes. "Who knows what
-.their real incomes are?" asks one mortgage broker.
(St. Petersburg Times 2 Nov 96 D5 courtesy of Edupage)
--
one of the few things we all share:
the utter, corrosive contempt for our elected officials.
Politicians are like diapers.
They both need changing regularly, and for the same reason.