2012 IRS Tax Transcript - timing when filed for installment payments?

[JRHollywood]

Like another post I read, I too am in mortgage standstill because of the lender not being able to get my 2012 tax transcripts.

I filed my return and it was accepted by the IRS on 1/28/2013.  I owe, and requested installment payments. The IRS sent me a request for financial information about 2/20 and I sent that back in immediately.

As of today (3/22/13) the IRS still says it can't confirm my filing.  My mortgage is fully approved with the one contingency being they need to receive that transcript, as they used my 2012 & 2011 income for the loan.  (Using 2011 & 2010 wouldn't get me approved at all as my business has steadily grown and 2012 was much higher, so i need that one to be used).

The seller is getting impatient, we already had to move the close back a week, and now that is fast approaching with still no confirmation from the IRS. 

In all my research online I read that if you owe money and didn't pay in full, the IRS doesn't even process your return (to the extent where it can be confirmed and get a transcript), until May??  Is this correct?  If so then I'm really screwed and would rather just know that now then crossing my fingers day by day.

I also have a call into a tax payer advocacy group person my mortgage person has used before.  Can they actually expedite this and have the IRS get my return in the system?

Any information would be helpful, I don't know if I should be hopeful it'll get in there and be able to be confirmed sometime soon, or if its really going to be May and I just need to let this go. 

Thanks!

[TanterBeans]

Oh no!  Sending you lots of luck with this and I am following (stalking) this post because we are about to do the same thing!  We are applying hopefully for our mortgage in mid April and now that I am reading this I am going to hurry up and file our taxes TODAY!  We will also have to enter into an installment agreement for payments.

Good luck!!!!!

[JRHollywood]

Thanks! Yeah its a horrible feeling knowing after all this work of applying and providing support, and its all coming down to whether the IRS will provide confirmation of my filing or not in the next few days.  Sickening really.  I filed in January on purpose to avoid this problem but still managed to pop up right as closing approaches.

Will keep you updated one way or another how this shakes out. 

[katiedk]

Have you had any luck with this?  I am in the same boat and am supposed to close on 4/29.  The IRS lost my 2011 return and I just found this out when my mortgage company requested transcripts.  Since then I have e-filed 2012, but have been told because I owed money, my return won't even get looked at until at least May 15!  I'm currently waiting to get assigned to a taxpayer advocate.