ISA Contract Law

[S6nculve]

Jurisdiction

Washington

I am in an Income Share Agreement contract with a company. My wife & I filed taxes jointly together this year. I submitted my W-2 & the joint tax doc to the company, but they are demanding my wife's W-2s. Can they legally force my wife to comply? They are claiming they will tribute the entire 2021 tax filing as my income if I don't force my wife to comply.

 

[Tax Counsel]

I am in an Income Share Agreement contract with a company. My wife & I filed taxes jointly together this year. I submitted my W-2 & the joint tax doc to the company, but they are demanding my wife's W-2s. Can they legally force my wife to comply? They are claiming they will tribute the entire 2021 tax filing as my income if I don't force my wife to comply.

I assume by income share agreement (ISA) you mean a type of college financing agreement in which your repayment is a percentage of your income for a set period of time. I'll also assume that your wife is not a party to the agreement. If I'm correct, then the lender cannot force her to provide it her W-2s. However, very likely the lender can assume that all the income is yours and base your repayment accordingly if you don't prove to it what income was your wife's income. Is there a reason you are reluctant to provide the lender with her W-2s?