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#461092 - 04/03/18 01:20 AM MU4 and under the table jobs
StoneCold Offline
Junior Member

Registered: 04/03/18
Posts: 2
Loc: Albany
If I worked a job for about 3 years that led me into the mortgage industry, but never filed nor paid taxes for, then should I include that on my MU4? The job will verify my employment but I'm worried that the agency responsible for my MU4 will be able to compare my work history to my tax filings.

Please don't judge. I'm gracious for any advice.

#461093 - 04/03/18 10:27 AM Re: MU4 and under the table jobs [Re: StoneCold]
Long Walk Offline

Registered: 06/27/08
Posts: 430
Loc: New Hampshire
Welcome to the forum, StoneCold.

There is a wealth of knowledge here and I'm sure that somebody will be along shortly who can offer good advice.

Out of curiosity, though, what do you mean when you tell us not to judge? The professionals on this site engage in fact-based discussions. The advice given is based on years and even decades of experience rather than emotional responses.

This is what I read in your post and will look to you to correct me where I may be mistaken. Your unwillingness to pay taxes is an act that lacks integrity. You are trying to obtain a license in a field that requires integrity. You are concerned that you are going to get caught and will not obtain that license. What I don't read in your post is your plan to make amended filings so as to pay the tax and penalties that are owed.

#461100 - 04/03/18 02:10 PM Re: MU4 and under the table jobs [Re: StoneCold]
Vermont Offline
Major Contributor

Registered: 04/12/08
Posts: 7950
Loc: Vermont's North-East Kingdom
Vermont has an abundance of under-the-table jobs . . . . it is reflected in our low average gross family income statistics.

It also represents the primary reason why so many potential buyers cannot get themselves approved for a mortgage because you can only borrow against the future income that can be expected based upon your past "reported" income,

And related, because I am now of an age where I hear about such things, are the whiners who upon reaching retirement age, now discover that their Social Security Income is calculated on the duration and amount of the "reported" income they received during their working years . . . . and complain that this is happening when they're old and decrepit and they don't have time to make up for all of the years that they went without reporting.

It's so sad . . . . but that's the way the system was designed, and the "system" has a memory. Not much you can do except, because that you're now an old geezer, is take a stab at qualifying as disabled ?
Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont
Where We're Always Striving To Put Together "THE FAIR DEAL"

#461105 - 04/03/18 11:24 PM Re: MU4 and under the table jobs [Re: StoneCold]
StoneCold Offline
Junior Member

Registered: 04/03/18
Posts: 2
Loc: Albany
Long Walk and Vermont,

I appreciate your responses! Thanks for the warm welcome.

Vermont, fortunately I am young and have been employed at various W2 positions for extended times sinces I was 16 years old. I would certainly never try to claim this income when requesting a mortgage or filing for Social Security. I'm sorry to hear about your market's struggles.

Long Walk, you are absolutely right, I really should have included an appropriate plan of action for owning up to my dishonesty. With that said, I am filling out my MU4 very soon and fear that even if I made appropriate amends it would not be recognized in time. My employer will verify my employment, but what is the specific scrutiny used to verify employment? Does the NMLS request tax information from the FBI?

Once again, thank you so much for the detailed replies. I look forward to becoming an active member of this community!

#461108 - 04/04/18 02:54 PM Re: MU4 and under the table jobs [Re: StoneCold]
Long Walk Offline

Registered: 06/27/08
Posts: 430
Loc: New Hampshire
Hi StoneCold --

Glad you came back to the conversation. Someone with very recent experience on your question may be able to tell you if your situation is a definite 'no-go'. But, I would suggest that it is not a good idea to risk the licensing board finds out about this through their own efforts. I would voluntarily disclose.

If nobody chimes in with relevant, recent experience, then I would call the licensing board and talk with an investigator. They always know what is up and can let know what your chances are. They are going to find out, most likely, anyways, so it is better, in my experience to control the conversation.

There may be a statutory or procedural bar to licensure for under the table work. If so, there may be an appeal process that would allow you to present evidence supporting your claim of good character and evidence of having made the tax issue as right as possible.

If there is no bar, your application may be looked at more carefully. In that case, disclosure is your best approach. That, and an admission that the behavior was wrong, together with your plan (hopefully executed) to correct the tax filing issue.

Let us know how it goes.


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