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How do I send a digital copy of client's return to their bank--using ProSeries Professional

Maryann K
Level 1
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5 Replies 5
Level 15

A. Don't

B. Obtain consent to disclose from client. Print to pdf. Password protect. Send.

Level 15

Send password protected to the client and tell them to do whatever they want to do with it. 

Level 9

I agree - don't.

I disagree - do not send them an encrypted .pdf either.

For many years in the AICPA Liability Insurance seminars we have been told lenders have been suing tax preparers if the borrower defaults - and unbelievably they have been winning these cases.  For the same reason we don't prepare verification letters; the lender wants our signature so they can sue.  Yes, anybody can sue anybody for any good or bad reason. But I'd make it a firm policy that you will provide whatever documents that are needed to the client and then let the client submit to the lender.

I have lost individual clients because I will not do a verification letter for a refinance or similar.  I'm pissed at first but in the end I still know it's the proper thing to do.

Level 11

I've lost them too.... Good riddance... 

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Level 15

I'm going to assume that part about lenders successfully suing tax preparers for providing client-authorized copies of tax returns is an urban legend.  What is heard in seminars, unless the course materials cite a specific case, is akin to what is heard in barber shops.  In fact, the AICPA does have a handout on the wrong way and the right way to do it: