01-23-2014 06:58 PM
I would go ahead and order the transcripts. Also, have copies of any payment agreements and your bank statements showing any and all payments.
We are quite ecited, but I am not celebrating until I have a key in my hand!
01-28-2015 07:28 PM - edited 03-20-2015 03:27 PM
I know this is an old topic, but I wanted to ask: Gladius, were the payments to the IRS visible on your bank statement? My husband is an independent contractor with two installment plans for 2012 & 2013 with both the Feds & the state of Virginia. We'll owe money this tax season too & we're nervous about being asked to file 2014's taxes & set up/get proof of an installment agreement & display 6 months of ability to pay before being considered for a loan. We don't have many debts, so even with the new tax payments, our DTI should be fine, I just don't want to wait all that extra time.
I'll come back & post updates as they occur for future users.
Update March 20, 2015
We're currently waiting on our Certificate of Eligibility for a USDA Direct loan & when I finally got through to the IRS yesterday to add 2014 to the agreement, the rep told me that the IRS won't begin working on the accounts that owe money until around mid-May, so transcript requests will be delayed until at least then, possibly the beginning of June. He said to just keep making payments (he told me the new amount to pay) & that the proof of payments may help the loan officer determine the DTI.
01-29-2015 08:35 AM
I am supposed to be closing tomorow. My transcripts for 2012 and 2013 had a business loss. I am on a payment plan for 2013 and I showed them my payment plan that the IRS lady emailed to me. I have been scrambling all week to get my 2014 taxes filed, per one of my conditions that hsows no business loss. I had to show them a payment plan for that as well. My CPA tax person gave me an installment agreement and the underwroter took it. As of last night - i am clear to close.