IRS Question Standard deductions and personal exemptions?

Hey I was wondering, if I dont work and I want to build up some credit, why dont I just declare about 16,000 dollars as income and with all the standard deductions and exemptions i wont have to pay a penny of tax. I am married and i am allowed about 10,700 of standard deduction and about 7000 of personal exemption. Any ideas????

Public Comments

1. Bank fraud. 2. Tax fraud. 3. Read the perjury statement on your tax return where you sign it. All 3 can attract prison time upon conviction. And showing $17,500 in income isn't going to get you much credit at all anyway.
This is not a good idea because it is a falsehood. In addition, if you claim the income as self-employment, you would owe the Social Security tax on it (15%). If you claim W2 wages, you would have to make up employers etc. Neither is a good idea. Go ahead and get a job! Good Luck.
i have never heard this one before. but im sure you are not allowed to report income you did not really recieve. thats like cooking the books in a big company to make investers think that there was more revenue than there really was. thats illegal.
Income DOES NOT improve your credit score or build you credit. The only thing income does for you is prove your ability to repay, aka the amount of a loan/service you can qualify for. You have two routes to go through if you wanted to do this. Which both end badly for you. 1. You can make a fake employer and/or steal employer information since you need their EIN. Assuming you e-file, when the IRS doesn't receive a W-2 from the employer that you claimed to work for a Red Flag will be raised. Good Luck. 2. Claim the money as self-employed. Which you will have to pay SE tax, also penalties for not making your quarterly payments, ect. So you will owe the IRS money. Again Good Luck. Either way it is tax fraud and perjury.
Well, it would be tax fraud to start with. And when the IRS computers compared your return with the other paperwork they get, they'd ask you what the heck you were doing. Then if you tried to use that phony return to get a loan, that would also be another level of fraud. And purely from a practical standpoint, how much credit do you think a bank will give a married couple with only $16,000 income for the year?