Im trying to get a mortgage and thay my tax return for the 08 and 09, but I dident file in 09?

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It asks for the 08 and 09 return. Did not file 09th What all mortgage brokers and banks to ask for my tax return?

6 Comments
  1. Reply
    Frank
    May 3, 2011 at 4:50 am

    Yes. But you can file a late return and provide a copy of that.

    After three years, you forfeit any refund, but you can still file. If you don’t owe any money, there is no penalty for filing late.

    If you didn’t file because you didn’t have any income that year, you may have a challenge getting a mortgage even if you file now. Before you go to the trouble of filing, make sure the broker is aware that you had no income that year.

  2. Reply
    Bash Limpbutt's Oozing Cyst©
    May 3, 2011 at 5:43 am

    Virtually all lenders want copies of the last 2 to 4 years of tax returns to verify income. That’s common industry practice.

    If you were not required to file a return for 2009, send a Form 4506-T to the IRS and request a verification of non-filing letter. The IRS will provide that letter if you did not file a return AND their records indicate that you would not owe any tax if you did file. The underwriter will accept that, but will most likely treat your 2009 in come as $ 0, which won’t help you in getting a loan.

    If you were required to file a return for 2009, you must file it now. However since we are in the middle of the 2010 filing season, it may take 3 or 4 months before the IRS processes a prior year return and gets the data loaded in the system so that the underwriter can pull copies of your IRS transcripts. (You’ll have to provide several signed 4506-T forms for the underwriter to use to pull transcripts. Refusing to provide them generally means you will be denied the loan.

  3. Reply
    Dave
    May 3, 2011 at 6:03 am

    Yes, all lenders ask for that. WHY didn’t you file in 2009?

  4. Reply
    the kid
    May 3, 2011 at 6:34 am

    Yes, they all ask for them. Why didn’t you file in 2009? If you were not obligated to do so, the IRS will provide you with a notice that states this. If you simply didn’t do it, do it now.

  5. Reply
    tro
    May 3, 2011 at 6:44 am

    yes

  6. Reply
    morene
    May 3, 2011 at 7:26 am

    The best place to get your 4506-T tax transcripts is at http://www.veri-tax.com. They can get up to 4 past years to you in 1-2 business days.

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