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#709339 - 03/30/07 04:46 PM Loans for Tax Returns
NM Tiger Offline
Member
Joined: May 2004
Posts: 79
New Mexico
I know that if we make a loan to pay taxes the bank needs to make the check payable to the IRS, but are we responsible for the portion that they are not borrowing. If a customer owes $2500.00 and he borrowers $2000.00 are we responsible for the $500.00 that he does not borrow?

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Lending Compliance
#709347 - 03/30/07 04:54 PM Re: Loans for Tax Returns
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 85,438
Galveston, TX
I'm not sure how you could be.
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#709376 - 03/30/07 05:25 PM Re: Loans for Tax Returns rlcarey
NM Tiger Offline
Member
Joined: May 2004
Posts: 79
New Mexico
Thanks, that was what I was thinking, but had a loan officer ask.

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#709379 - 03/30/07 05:26 PM Re: Loans for Tax Returns rlcarey
NM Tiger Offline
Member
Joined: May 2004
Posts: 79
New Mexico
Thanks, that was what I was thinking, but had a loan officer ask.

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