Originally Posted by
CrashCredit
Should I sign this 4506-C document??
I recently applied and was initially approved for a discover it card. However now I cannot activate my card until I sign this 4506-C "IVES Request for Transcript of Tax Return" document and supply Discover with 3 months of bank statements. Im fine with supplying the bank statements, the problem is I have never filed taxes because the majority of my income is non-taxable gifts. I have talked to Discover and they said its ok that I haven't filed taxes and the document is to verify that I haven't filed taxes. I have until next month to sign the document or they will close all my card accounts and I'm afraid that will hurt my score. And if I sign the 4506-c I also don't want to get pounced on by the gov. ...If they think I have all these unpaid taxes(which I don't of course). So I am willing to let the discover accounts close if absolutely necessary. What should i do?
any advice will be helpful!!
My take on this is, if you do not owe any taxes, what is the issue with not signing the form?
Especially, in the very unlikely event the IRS inquires of you about taxes, presumably you can prove you do not owe. While there is no prohibition on not owing taxes, one is to 'generally' file showing that they do not owe.
There are instructions with the various forms which indicate the types of income to report, the question is really, what are you in fear of?
This type of request is becoming more and more common, are you willing to, potentially give up future cards over this type of request?
If so, your credit score should not matter.
Good luck in your decision.