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Message
re: Amended Tax Return
Posted on 10/9/12 at 12:42 pm to lsusurfr98
Posted on 10/9/12 at 12:42 pm to lsusurfr98
quote:
I would switch lenders
I can understand the lender wanting to verify your tax return with the IRS. But you would think they could waive that requirement for minor discepancies. With all the new HUD requirements maybe they can't. It's worth a few phone calls to other lenders to see if they have the same requirement.
The lender can also get an "official" wage and income report directly from the IRS. This report is a transcipt of every W-2 and 1099 you received for the year. The wage and income report should agree with your amended return. Any tax preparer registered for E-Services can get a copy of this same report for you online in about 30 minutes.
1
Posted on 10/9/12 at 1:18 pm to tigeryat
What about signing a 4506T so they can go online and pull the tax return transcripts directly from the IRS?
Also, what kind of error is it? Not quite sure why a bank would give you tax advice as it opens them up to lender liablity. I would never tell my customer to file an amended return (I work on the commercial side though). I would always direct them to their CPA. Seems kind of odd for them to be telling you to do this?
Also, what kind of error is it? Not quite sure why a bank would give you tax advice as it opens them up to lender liablity. I would never tell my customer to file an amended return (I work on the commercial side though). I would always direct them to their CPA. Seems kind of odd for them to be telling you to do this?
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