From TaxAlmanac, A Free Online Resource for Tax Professionals
From TaxAlmanac
Discussion Forum Index --> Advanced Tax Questions --> Freddie Mac Quality Control Program - is this real?
Discussion Forum Index --> Tax Questions --> Freddie Mac Quality Control Program - is this real?
LJACPA (talk|edits) said:
| 14 February 2009
|
| This is a new one on me and smacks in the same vein as those lovely lender letters. It's odd that this letter/inquiry I received yesterday deals with the same client I refused to do a 'CPA letter' for a couple of years ago who is now in dire desperation on multiple loans. This inquiry, and it kind of looks real, asks essentially the same question that I refused to 'attest' to previously. A copy of the 1040, pages 1 and 2 - that I prepared - is attached to the inquiry along with one of the Borrower's Certification & Authorization sections of one loan. The question asked is, "Is the information on the attached tax document accurate for the year indicated?" What??? It's accurate as far as what the client provided and why would I sign the return otherwise? But this then goes back to one of the major issues, that the information is as accurate as the client provided and I've met the reporting requirements but did not 'audit' that information. I'm completely averse to responding to this, but wonder if there would be any ramifications for not doing so. Has anyone else seen this? Thanks.
|
Jdugancpa (talk|edits) said:
| 14 February 2009
|
| Yes, I saw one last year. First thing I did was inquire of my client if he wished me to respond. He had already gotten the loan so he said no, so I did not. I would put it in the round file.
|
Belle (talk|edits) said:
| February 14, 2009
|
| I remember getting something similar in years past from lenders (not necessarily Freddie Mac) asking for verification that what the borrower gave the lender matched what I had prepared for the client to file. Pretty sure it had to do with auditing procedures. My situation had slightly different verbiage from what you are being asked; although I'm not sure Freddie's definition of "accurate" means what you (or me) as a tax preparer think it does. Ain't the English language grand?!? Since your client has the loan, I vote for the round file too.
|
To join in on this discussion, you must first
log in.
