Yes, if you report your tips on your 2022 tax return, banks will accept your tax return as proof of income. Reporting them will also count towards your social security.

TLDR, don’t cheat on your taxes. They’re probably not a ton at your income anyway, but even if they were, don’t cheat regardless. It tends to catch up with you in unexpected ways at inconvenient times.

Thanks. So when I am filing I will most likely need to pay additional taxes correct?

Yup, although not additional taxes. Just whatever taxes that you always owed in the first place.

And will I have to wait until tax returns to prove my income to banks? I am trying to get a car in the next couple months.

Yes, you’ll have to wait until you file. You can file as soon as you get all your information though. Employers are required to provide W2s by January 31.

So I won’t have to wait until my tax return, I just need to wait until I file?

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Did you not read the post? I’m trying to get approved for a loan

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Yes. Once you file, your return is ‘legit’. And based on your income level, it’s unlikely any additional taxes you pay for being honest will amount to much.

Thanks. I’ve only had my job for 4 months, will that make it impossible to get a loan because of the lack of history?

Sometimes, tips and bonuses don’t count.

For my car loan, it had to be consistent across two years tax returns. The facts I started earning tips and bonuses this year didn’t make the cut.

It depends on the loan provider.

Um, possibly. That's not much of an employment history. So it brings up a few questions:

Did you get the new job after leaving an old one (without much 'down' time between gigs)? If so, then you have an employment history that goes longer than 4 months.

If this is your first job, 4 months is not a lot of time. Is this a job you expect to hold for a long-ish time, or is it biding you over until you get something else? Are you sure you need to get a car loan? Taking on a loan without a steady full-time job is kinda dangerous to your wealth. Have you worked out a budget for your life or lifestyle? If not, there are plenty of tools online to develop a budget to determine what you can reasonably afford. I've even got a half-baked one you can have.