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Under contract, but very worried (IRS / 4056-T form / Streamline agreement)

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Anonymous
Not applicable

Re: Under contract, but very worried (IRS / 4056-T form / Streamline agreement)

I'm in the same situation.  I have a IRS payment plan from 2005, but didn't disclose to my lender (Wells Fargo) because they only requested the past 3 years.  I'm concerned because I don't know if the transcripts or IRS will inform them that I'm on a payment plan for owed taxes in 2005. I'm officially in escrow so I don't know what to expect.  My application came back with an instant approval.

Message 31 of 32
StartingOver10
Moderator Emerita

Re: Under contract, but very worried (IRS / 4056-T form / Streamline agreement)

One more thing, even though your application came back with an "instant approval" you still have to go through the entire underwriting process. Disclose the installment debt to your LO today.

Message 32 of 32
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