Falsifying your income to boost your tax refund could cost you quite a bit of money, according to IRS officials.
They note misrepresenting your income to claim tax credits can lead to significant penalties, interest and possible criminal prosecution. For instance, federal officials say unscrupulous people list income they did not earn in order to secure larger refundable credits, such as the Earned Income Tax Credit.
Even if your return is professionally prepared, IRS officials say the individual filer is legally responsible for the information it contains. They urge taxpayers to choose a preparer carefully and make sure he or she understands taxes and are honest about eligible credits and deductions.
Find more tips about choosing a preparer and better understanding their credentials online at www.irs.gov/chooseataxpro.
