Professional Management Systems

Real Estate Agents and/or anyone planning to obtain a mortgage...

The requests made by lending companies for "comfort letters" from accountants are becoming an real issue with accountants as well as the AICPA.

The fact is, legally, CPA’s or any tax preparer for that matter, can do no more than issue a letter stating that they prepared the tax return based on the information received by the client. Issuing a statement regarding the solvency of a business is specifically prohibited.

Remember, lending companies are in business to issue loans, not deny them.

Hopefully this information helps in the future...

us.aicpa.org

https://www.yahoo.com/now/got-irs-math-error-letter-152411992.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAIahNV6dlecnLVLdWckGDqkkCEidUyTP11zAhh0ZikTvDQiugMI7lICchMfJKRqZREsNItusr4Sa4Y76HPYJWaKVrxP8raKbcw4Qg1NwSAxsTdeSGWuJLgZ2ylwQW0g1svHuqQz_wICpwuQCj33PzWW2Xf0pHvH55tnwXqRBThLv

Got an IRS ‘math error’ letter in the mail? Here’s what’s going on 11 million taxpayers get the frustrating, confusing note.

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