"Certified" W-2?

[SunTaxMan]

Client is applying for a home mortgage. Mortgage company, in the absence of a filed 2009 tax return (return is on extension), wants a "certified" copy of taxpayer's W-2s, and advises that I or taxpayer can take a copy of the W-2s to an IRS office and they will "stamp" the W-2s as "certified." (This follows mortgage company attempt to get a transcript of 2009 return from IRS, which failed since 2009 return has not been filed.)

This "certifying" is a new idea to me. Two questions:

1. Can it be done?

2. Does it matter who takes the W-2s to an IRS office?

Thanks,

[GeneInAlabama]

Seems to me that the only one that could "certify" a W2 would be the one that issued it. How would the IRS know that it is accurate?

[jainen]

>>attempt to get a transcript of 2009 <<

You have an inexperienced loan officer who asked for the wrong thing. A W2/1099 transcript is available.

Still, the mortgage company is being very flexible. Make sure your client understands that this is no time stretch the truth. They WILL verify the tax return after filing, and they will send a live investigator to verify owner occupancy and everything else. Funding the loan is somewhat towards the beginning of the process when you go limited docs.

[OldJack]

>> A W2/1099 transcript is available.<<

I didn't know that!! Damn Jainen you are good! :)

[MAMalody]

He probably didn't asl for the wrong thing, he just didn't now what else he could ask for.

[kcjenkins]

If he asked for a tax return transcript, and the return had not been filed by the taxpayer, it would come up blank, BUT the W-2s will still show if you ask for the transcript of all income, since those were filed by the employer.

[SunTaxMan]

If he asked for a tax return transcript, and the return had not been filed by the taxpayer, it would come up blank, BUT the W-2s will still show if you ask for the transcript of all income, since those were filed by the employer.

Resolution, "Wage and Income Transcript" for 2009 was issued by IRS. But, it was issued from taxpayer's record, not employer's record (even though the 2009 1120s nor the 1040 have been filed). Mortgage company was not looking for all employees, just the one who applied for mortgage.

Thanks for response.

[Lion EA]

I think that was what KC was telling you, that even if no return has been filed yet, the W-2s still exist in the taxpayer's income transcript since the employer already filed those.