Taxes before closing?

[Anonymous]

Hi all! I'm scheduled to close on my new build home in early April and was just wondering if the lender might require me to do my taxes before then as a condition? I'd really rather not because I think I will owe about $1000. I know I can just ask my LO but I'd like to know if that is something that is usually required before I bring it up with them. Thanks!

[Anonymous]

If you are this close to the end and it has not been required as a condition, I doubt it will become a last second condition. It is always best to run it by the LO for clarification.

[leahkline86]

Is it before April 15? If so, they shouldn't ask you to.

[cartwrna]

If your truly worried about filing now you can always ask for an extension on your taxes as well, they can't force you to file if extended. Unless your surpass the deadline before the transaction is complete. Hope this helps

[Anonymous]

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@cartwrna wrote:
If your truly worried about filing now you can always ask for an extension on your taxes as well, they can't force you to file if extended. Unless your surpass the deadline before the transaction is complete. Hope this helps

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Thanks forthe tip! I think I will give that a try!

[jd403]

I asked the same thing to my LO and she told me that as long as closing is before April 15th, no LO can force you to file 2015 taxes.  

[DallasLoanGuy]

file extension to be safe. 

[flan]

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@cartwrna wrote:
If your truly worried about filing now you can always ask for an extension on your taxes as well, they can't force you to file if extended. Unless your surpass the deadline before the transaction is complete. Hope this helps

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in general, though, the IRS requires you to pay the tax you owe by April 15 (actually, the 18th this year because of Emancipation Day).  If you don't, you will owe interest and possibly penalities. 

[cartwrna]

That's true, but the interest on 1k will be minimal. Better than not getting a home IMO.

[Anonymous]

Thanks for your input everyone! Much appreciated!