Student Tax Fraud Essay

This loan is a last resort type of loan, after someone gets there other options in, such as loans discussed beforehand and after all their scholarships have come in. Its there to guarantee that you will have the financial means to get into the institution that you are have the opportunity to enroll into. It's a loan that makes sure that there is a really good chance that they will get their money back.Which means that this loan is not the loan that people use to commit student tax fraud because they don't give money to people who can't pay them back and if they don`t, you are putting the burden on someone else who will more than likely approach you about the payments.

The final type of loan that this paper will talk about is a direct consolidation loans, which allows you to combine all of your eligible federal student loans into a single loan with a single loan servicer. This allows you to conveniently combine your loans into one loan and thus you would have one loan payment. This should be considered because it can lessen the …show more content…
Basically it when you misrepresent how much income you have when you file, by saying you have less income than you actually do so that you pay less taxes on your income. According to CNBC in 2015 tax-fraud is expected to soar again this tax and hit twenty-one billion by 2016. When it was only 6.5 billion dollars two years before in 2013. This is more than triple what it was in 2013, this increase in tax fraud is being blamed on the out of date tax fraud system. They say that it is very basic system and can't even detect or identifying the many attempts to trick it. They say that this is the problem because it makes tax fraud so easy to accomplish because all you need is your name, date of birth and your social security