Insurance Company Asking for Tax Return

[Neutrina]

I have a second interview in a few days with a captive company (shall remain nameless for now) and they have requested that i bring in a pay stub from last employer as well as a tax return.

I am not comfortable with submitting a tax return (especially since they weren't clear as to why they needed it) and have told them so. However, based on the phone conversation i have a feeling they will ask for it again.

Is this standard operating procedure for captive companies?

 

[Josh]

The answer is it depends. If they are offering you a base they are probably basing that off of your previous earnings and in that case that is absolutely the truth. What company is it?

 

[Neutrina]

"...if they are offering you a base they are probably offering that off your previous earnings...."

They have my last employer's info (phone and address) and they will have my pay stub. Both of these items should more than verify what my previous salary was.
From checking around the net--it is my understanding that while it is not illegal to ask for a tax return. It is illegal to base a hiring decision on whether or not one submitted it.
Tax returns are protected under privacy federal laws (don't have the statutes off hand).
I have made the decision not to submit it and end the interview if they insist on it.
There is just too much private information on mine-including my kids social security numbers, what daycare they are in, and other income/deductions, etc. that, frankly, is none of their business.

I just wanted to know if this was standard operating procedures for all insurance carriers, agencies etc. Because if that's the case, then my insurance career which hasn't even fully started (though i am newly licensed) has just ended. Info on my tax return is private.

 

[VolAgent]

Then how are you ever going to fill out an insurance application? Life and health ask for a lot of the same information on a tax return. Are you going to ask someone to do something you are unwilling to do?

 

[Larry Tew]

I don't see a conspiracy around every corner. Other than being a matter of principle, what is the real problem? It's a captive company, so they are likely going to pay you more than your commissions early on, so they have a right to evaluate their risk on you as well.

 

[Mattschmidt]

Usually you do not have to submit all this information, until you are ready to take the next step ( agree to back ground check, etc.) I would tell them that you are uncomfortable with this, but you would be more than happy to provide the proper information, once you decide to pursue the career further

 

[b61mack]

just white out the stuff you consider private. you are make to much out of it.

 

[Icando]

"...if they are offering you a base they are probably offering that off your previous earnings...."

They have my last employer's info (phone and address) and they will have my pay stub. Both of these items should more than verify what my previous salary was.
From checking around the net--it is my understanding that while it is not illegal to ask for a tax return. It is illegal to base a hiring decision on whether or not one submitted it.
Tax returns are protected under privacy federal laws (don't have the statutes off hand).
I have made the decision not to submit it and end the interview if they insist on it.
There is just too much private information on mine-including my kids social security numbers, what daycare they are in, and other income/deductions, etc. that, frankly, is none of their business.

I just wanted to know if this was standard operating procedures for all insurance carriers, agencies etc. Because if that's the case, then my insurance career which hasn't even fully started (though i am newly licensed) has just ended. Info on my tax return is private.

IDK why your are asking for input if your convictions are to keep your information private from a potential employer? You are not willing to bend, so don't. The decision is yours, and yours alone. From the tone of your post it certainly doesn't sound like a match anyhow.

 

[Guest]

Well, get used to it, you said it is a captive company, they will always be in the middle of your **** and always telling you what to do.....

 

[GoCubsGo]

I agree, none of their business. If they insist move on. They get all your personal info on application. They have your pay stub and a background and credit check will give them more than enough info.

Get some gonads and go independent.