Por qué el IRS está vigilando su hipoteca

Si falsea la deducción de los intereses hipotecarios en sus impuestos, Hacienda puede dar con usted rápidamente.

 

NUEVA YORK (MainStreet) — With the Internal Revenue Service digging behind seat cushions looking for extra cash, it’s no surprise it’s getting more aggressive about taxpayers who pay a lot of intereses hipotecarios but don’t declare a lot of income.

Dios sabe que el gobierno federal necesita el dinero. En un momento en el que el déficit federal se situaba en $1,4 billones, el gobierno federal ingresos fiscales fell off a cliff not too long ago. According to a study by the American Institute for Economic Research, federal tax monies declined by $138 billion from April 2008 through April 2009. That’s a 34 percent drop in tax revenues, the AIER reports.

That’s the biggest reason why the IRS is taking a keener interest in your hipoteca interés - it might lead them to a nice tax payday unless you’re careful.

Here’s what the IRS is looking for, and what you can do about it:

READ: Tax deductions for mortgage points

If you’re a homeowner, every tax season the IRS gets a copy of your mortgage interest statement, also known as IRS form 1098 (your lender sends a copy to you and to the IRS). Form 1098 shows the exact amount of interest you paid on your monthly mortgage for the previous tax year.

The number on that tax form is a significant clue to the IRS. Agency computers can “match” the interés deducción que le proporciona su prestamista con el número que figura en su declaración de la renta, utilizando su número de la Seguridad Social.

Al comparar su declaración de la renta con los datos que le proporciona su prestamista hipotecario, Hacienda ha tenido suerte desenterrando dinero suelto - todo a costa del contribuyente. Según el Inspector General del Tesoro de EE.UU. para la Administración Tributaria, el IRS rastreó 227.000 declaraciones de la renta en busca de respuestas sobre discrepancias en las deducciones hipotecarias en 2004 y 2005.

Ello dio lugar a 70.000 nuevas declaraciones de la renta y a $276 millones en devoluciones. impuestos on newly calculated mortgage interest deductions. How did TIGTA do the math? According to its Web site, TIGTA sampled 1098 tax forms from 2005 that showed mortgage interest of more than $20,000 and attempted to match it to corresponding tax returns. The research found that the unpaid tax amount based on misreported mortgage deductions ranged between $352 million and $900 million – not exactly chump change to Uncle Sam, who obviously needs the money these days.

Plus, it’s not just the federal government. Some states, such as California, have created campaigns targeting taxpayers who might be abusing the mortgage interest deduction rules.

Según el California Franchise Tax Board, el Estado recaudó $40 millones en un programa piloto en 2007. (Lea la Informe TIGTA.)

What can you do if you’re targeted?

If you do get an IRS notice asking you to clear up a mortgage interest deduction issue, make sure you respond right away. Include any appropriate mortgage statements, canceled checks or copies of correspondence from any family members, businesses or friends who either gave you or loaned you money to pay your mortgage. You’ll need to include copies of your tax returns for the year in question.

READ: New HARP program for your mortgage

Also, know what the IRS is really looking for in a mortgage interest matter – the source of the funds used to pay your mortgage interest.

Obviamente, ayuda ser más meticuloso a la hora de consignar el número de interés hipotecario correspondiente cuando presente su declaración de la renta. Y asegúrese de presentar las declaraciones de la renta todos los años - the IRS can audit you for the rest of your days if you don’t file. Eliminate that potential horror show by filing your taxes for any years you’ve missed, thus getting the IRS off your back in the process.

Maybe the biggest takeaway is knowing that, if you fudged your mortgage interest deduction on your taxes, the IRS may already be on to you. In an economic climate where tax money is short, don’t be surprised when the IRS gets more aggressive about examining your mortgage interest.

 

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