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Tax return preventing me to get home loan (1st time home buyer)

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ezdriver
Senior Contributor

Re: Tax return preventing me to get home loan (1st time home buyer)

I have filed my own taxes for many years and was self-employed for many of those years. I use Turbotax and I can tell you that I've had to read and re-read questions/instructions in Turbotax to avoid making mistakes as you have. Turbotax won't stop you from making mistakes. It will flag things sometimes but you assumed that it is error-proof and it isn't. also, telling an IRS representative that it is Turbotax's fault won't cut it with them. You are responsible for your tax returns regardless of what tools are used to prepare your retun or who prepared them.

 

If it were me, I'd go to the local IRS office and request help from their reps to amend your tax return right there ... and they will do it for free. if you don't have an IRS office nearby, then pay a CPA or a tax-prep company to do it for you.

 

 

Message 11 of 24
DWill02
Established Member

Re: Tax return preventing me to get home loan (1st time home buyer)

I definitely will get with a tax professional immediately
Starting Score TU EQ EX 626
Current Score TU EQ EX 573 (4/22/14)
(10/12/15)TU 653 EQ 642
Goal 750 all 3


Texas Trust Credit Union Secured MC Cd $300 limit
Capital One unsecured $500
Credit One unsecured $600
Victoria Secret $250
Message 12 of 24
DWill02
Established Member

Re: Tax return preventing me to get home loan (1st time home buyer)

Thanks for the feedback, I guess trying to save money for tax preparations bitten me in the butt. I feel horrible..
Starting Score TU EQ EX 626
Current Score TU EQ EX 573 (4/22/14)
(10/12/15)TU 653 EQ 642
Goal 750 all 3


Texas Trust Credit Union Secured MC Cd $300 limit
Capital One unsecured $500
Credit One unsecured $600
Victoria Secret $250
Message 13 of 24
Anonymous
Not applicable

Re: Tax return preventing me to get home loan (1st time home buyer)

Don't feel horrible. Tax filing is a convoluted nightmare for all of us, and I've made my share of innocent errors myself. The whole IRS thing is a mess.

Message 14 of 24
StartingOver10
Moderator Emerita

Re: Tax return preventing me to get home loan (1st time home buyer)

I agree with all of the above posters.  And, it is easy to make an error when filing.  Best to leave some things to the professionals anyway.  Get a tax professional that knows what they are doing so you don't end up having to pay more in penalties. As mentioned, the more quickly you handle this error, the better it will be for you in the long run.

Message 15 of 24
DWill02
Established Member

Re: Tax return preventing me to get home loan (1st time home buyer)

Yes I agree thank you again for all the advice! I definitely will take care of this immediately..
Starting Score TU EQ EX 626
Current Score TU EQ EX 573 (4/22/14)
(10/12/15)TU 653 EQ 642
Goal 750 all 3


Texas Trust Credit Union Secured MC Cd $300 limit
Capital One unsecured $500
Credit One unsecured $600
Victoria Secret $250
Message 16 of 24
Anonymous
Not applicable

Re: Tax return preventing me to get home loan (1st time home buyer)

DWill, if you work on finding someone ASAP you could be back to applying for a mortgage in just a short period of time. Don't get frustrated, and don't get freaked out. You are not the first one to make this mistake I'm sure. IF the IRS finds it before you amend it, they aren't going to haul you off to jail or anything. Just find someone quickly and get everything corrected so that you can finally reap the benefits of your hard work.

Good Luck!!
Message 17 of 24
DWill02
Established Member

Re: Tax return preventing me to get home loan (1st time home buyer)

I sincerely appreciate your encouraging words MRSWATTS!!!
Starting Score TU EQ EX 626
Current Score TU EQ EX 573 (4/22/14)
(10/12/15)TU 653 EQ 642
Goal 750 all 3


Texas Trust Credit Union Secured MC Cd $300 limit
Capital One unsecured $500
Credit One unsecured $600
Victoria Secret $250
Message 18 of 24
Pway
Valued Contributor

Re: Tax return preventing me to get home loan (1st time home buyer)

I agree with all the other posters here.  You need to get a professional to amend your tax returns.  I have been doing taxes for around 6 years now and if you would have told me that I would of looked at you crazy and said are you serious.  Most of your income is going to non reimbursed expenses.  How are you living?  I look at the whole picture when I am doing taxes, I can get slammed and penalized by the IRS as well as the client I am representing.

Thank you for the wealth of knowledge I have learned from these forums. I am logging off as of November 9, 2022. I wish everyone great success.
Message 19 of 24
DWill02
Established Member

Re: Tax return preventing me to get home loan (1st time home buyer)

I understand..
Starting Score TU EQ EX 626
Current Score TU EQ EX 573 (4/22/14)
(10/12/15)TU 653 EQ 642
Goal 750 all 3


Texas Trust Credit Union Secured MC Cd $300 limit
Capital One unsecured $500
Credit One unsecured $600
Victoria Secret $250
Message 20 of 24
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