IRS transcripts not updated and holding up closing!

[mwv813]

---

@CS800 wrote:

Since the IRS is still processing taxes, a lot fo transcripts are still not posted. The IRS is slow? newflash right?

What I did since I knew we were going for a mortgage is to handfile the return. I had the IRS lady stamp the front page of my returns and give me a copy. What I did with my lender is that I gace him the long form PDF that I filed and then a copy of the stamped front showing I filed and the date.

Lenders must expect this specially during the tax seasons.

---

Great idea.  I am going ot give this a shot as well.

[CS800]

---

@mwv813 wrote:

---

@CS800 wrote:

Since the IRS is still processing taxes, a lot fo transcripts are still not posted. The IRS is slow? newflash right?

What I did since I knew we were going for a mortgage is to handfile the return. I had the IRS lady stamp the front page of my returns and give me a copy. What I did with my lender is that I gace him the long form PDF that I filed and then a copy of the stamped front showing I filed and the date.

Lenders must expect this specially during the tax seasons.

---

Great idea.  I am going ot give this a shot as well.

---

Lenders must understand that and have procedures to accept proof of filing with long form pdf that the borrower gives them to verify. The stamped front page of the returns shows the IRS office location and date filed and the information on that front page would match the long form PDF that you filed anyway. They just want to make sure that your income info match.

If lenders didn't have that flexibility ,then they would not be lending any money to anyone from April 16th to end of May because they needed transcripts that bad.

[QueenBeeOC]

---

@mwv813 wrote:
I paper filed my taxes on April 14th and they are still not showing as received or processed with the IRS. My LO and UW say they need them before we can move forward. I am self employed so they need these to prove my income is what it is.

Does anyone have experience with this? Can self employed people just not close on houses this time of year? This is so frustrating.

---

Exact same thing held us up. 

the transcript updates 3 weeks after you have paid in full is what I was told. And it was the case for us. If you have a payment arrangement, it will probably be 3 weeks from that arrangement. did you check online already? 

[QueenBeeOC]

+1

[Anonymous]

we are having this same issue. i have been a little nervous about posting until we get our C2C but today, our mortgage processor send an email saying the only things pending were the IRS transcripts and rent verification. i dont owe the IRS and filed at the end of January. we are scheduled to close May 29th. how long does it take the IRS to verify? this is the most anxious i have ever been in my life. got our approval with conditions over 2 weeks ago and immediately sent the documents in. now our hell week begins. monday is a holiday which means we have to get everything done by tomorrow or the process starts again on tuesday. Darn!!

[Anonymous]

You can go pull the IRS transcripts, right now, by going to the website. Just create an account, verify identity, and they will be right there. Good luck! 

[Anonymous]

No you can't the online transcript is currently down and the message at the top of the page says:

Alert:

The online Get Transcript service is currently unavailable. Transcripts may still be ordered using the Get Transcript by Mail service. We apologize for any inconvenience.

It was up earlier yesterday but when I got home to check once again about 3:30 in the afternoon it was no longer available

[Anonymous]

Not good. I've never seen this happen before. Really bad timing for those that need transcripts now. 

[Anonymous]

Yeah, I've been stalking down my 2014 Return transcripts morning & night, waiting for them to come online since the IRS guy I spoke with a couple months back told me they'd be available May 21st. I'm hoping this downtime means they're just uploading everything or upgrading the system or something short-lived.

[Anonymous]

For those that need them, I would call and ask for the IRS is there is an estimated ETA for this.  Not sure that it will help, but it may keep you from wasting a lot of time (which is exactly what I would be doing in your shoes - refreshing over and over and over and over....)