Conditional Approval

[Anonymous]

Hello,

i am currently at the 'final' stage of my conditional approval. recieved final closing disclosure and signed on 08/01/16.

Conditional Approval   07/29/2016     Appraisal Ordered   07/05/2016     Submitted to Underwriting   06/24/2016

THE underwriter has accepted all of my conditions except 2.

1. they are asking for a 2015 IRS extension

i do not have this because i dont owe the IRS i just havent filed yet. I have provided all W-2's  and past tax returns fom privious years. I had a business that stopped operating in 2015 which the underwriter has recieved proof of and accepted. i am no longer relying on self employment income (in addition to my regular salary job). I only have my salary moving forward.

MY QUESTION: i am suppose to close on AUG 6, 2016. will not having the 2015 extension prevent me from closing? (since i dont owe the IRS anything i am still within my time frame to file for my refund right?)  Is the only way around this to file my 2015 taxes? even then i will have to wait for the official IRS transcript right?

just looking for some guidence as to what to expect and what to do.

the loan : FHA LOAN

2. condition wa just letter of explantion for a couple of large deposits (which i recently turned in tonight.

Thanks !

[Anonymous]

April 18th was the filing deadline unless you were given an extension whether you owed taxes or not

[Anonymous]

Is there a reason your hesitant to file taxes? Like the previous poster said the deadline was April 18th for filing. Usually April 15th but there was a short extension due to the weekend or holiday.

[Anonymous]

You may want to ask for a extension from your seller also if you haven't already.

[Mrsg714]

I understand you didn't file you taxes yet, but did you file an extension so you can file later in the year?  I closed on my loan May 9th, but filed an extension so I'd have more time to complete my taxes (long story).  This was all they needed.  I have an FHA loan as well.  You might want to contact the IRS and see if you can still file an extension.  Not sure how that works since you missed the deadline.  

[DallasLoanGuy]

file an extension. problem solved.

[Anonymous]

You will need the extension if you haven't filed. The extension should show zero tax liability for 2015 - this is the easiest solution.