topic Re: Denied no 2012 return processed in Mortgage Loans

Denied no 2012 return processed

Anonymous — Thu, 25 Apr 2013 20:48:26 GMT

I had to use 2011 and 2012 on application. After paying for appraisal inspections and paying my CPA for a letter i was denied because IRS has not processed my 2012 return yet. Was efiled Jan 30th.

I told them i was losing $700 and my house. Basically tuff luck try again in July, maybe we will have gotten to it by then.

I had to do 2011 and 2012 because im self employed only those 2 years.

Re: Denied no 2012 return processed

Anonymous — Thu, 25 Apr 2013 21:11:18 GMT

Holy crap man that's devestating...are there no other options, that's basically it?

I'm sweating bullets now because I am in the same boat, I will need 2012 taxes and I e-filed and the taxes were "accepted" on 03/24.

Re: Denied no 2012 return processed

Anonymous — Thu, 25 Apr 2013 21:22:07 GMT

Mine show accepted Jan 30th but in processing ever since.

Yeah thast it, no 2 returns no house.

Re: Denied no 2012 return processed

Anonymous — Thu, 25 Apr 2013 21:25:04 GMT

Woah, that's a long time. My was accepted on Jan 30th also but I got my refund 2 weeks later. Are they auditing you or something?

Re: Denied no 2012 return processed

Anonymous — Thu, 25 Apr 2013 21:31:11 GMT

If you are due a refund, they process the taxes fairly quickly. If you owed taxes, it gets put in the back of the line, even if you already paid the owed taxes. Freaking out over here, on the phone with the IRS right now trying to get through all the menus to talk to someone.

Re: Denied no 2012 return processed

Anonymous — Thu, 25 Apr 2013 21:31:23 GMT

@Anonymous wrote:
If you are due a refund, they process the taxes fairly quickly. If you owed taxes, it gets put in the back of the line, even if you already paid the owed taxes. Freaking out over here, on the phone with the IRS right now trying to get through all the menus to talk to someone.

Wow, didn't know. I'm gonna make sure that i over withhold my tax every year from now on.

Re: Denied no 2012 return processed

Anonymous — Thu, 25 Apr 2013 23:44:10 GMT

Have you contacted the Taxpayer Advocate's office? If not, you should- maybe they can help.

Did you escalate to someone higher up- President, VP, something, in your lender's company? I would try that as well, in addition to contacting the Taxpayer Advocate's office.

Re: Denied no 2012 return processed

Anonymous — Thu, 25 Apr 2013 23:48:10 GMT

What is the taxpayer's advocate's office?

BTW I've now been on hold for 2:14 and still holding to talk to the business tax department.

Re: Denied no 2012 return processed

Anonymous — Thu, 25 Apr 2013 23:51:33 GMT

Dug this up online, pretty cool...didn't know this existed. I don't know if I should wait and see if the UW will run into a problem (dont know if they will actually require transcripts or if just our copies are ok) or if I should jump ahead and see about getting the taxes processed asap.

You can also call the Taxpayer Advocate Service toll-free at 1-877-777-4778, or fill out Form 911,Request for Taxpayer Advocate Service Assistance, and fax or mail it to the address above.

The Taxpayer Advocate Service is your voice at the IRS. Our job is to ensure that every taxpayer is treated fairly, and that you know and understand your rights. We offer free help to guide you through the often-confusing process of resolving tax problems that you haven’t been able to solve on your own. Remember, the worst thing you can do is nothing at all.

TAS can help if you can’t resolve your problem with the IRS and:

Your problem is causing financial difficulties for you, your family, or your business.
You face (or your business is facing) an immediate threat of adverse action.
You’ve tried repeatedly to contact the IRS but no one has responded to you, or the IRS hasn’t responded by the date promised.

If you qualify for our help, we’ll do everything we can to get your problem resolved. You'll be assigned to one advocate who will be with you at every turn. Although TAS is independent within the IRS, our advocates know how to work with the IRS to get your problems resolved.

As a taxpayer, you have rights that the IRS must abide by in its dealings with you. Our tax toolkit can help you understand these rights.

Re: Denied no 2012 return processed

Anonymous — Fri, 26 Apr 2013 01:13:43 GMT

My guess is you would have to wait and see if the your lender needs the transcript. I used the Advocate's years ago, and they resolved my issue, but I had to provide them with written proof that the delay processing my return was adversely affecting me/creating a hardship. Since your lender hasn't requested the transcript, or put anything in writing stating your loan will be declined without it, you wouldn't have any documentation to provide the Advocate's office with.

Re: Denied no 2012 return processed

Anonymous — Fri, 26 Apr 2013 15:25:39 GMT

So today my LO says i am approved pending tax transcripts on a 30 day extension. So i have to wait and see if the IR$ gets to processing my return that they accepted Jan 30th in the next 30 days. Anyone have any idea how to possibly speed them up. Would sending payment help speed it up.

Re: Denied no 2012 return processed

Anonymous — Fri, 26 Apr 2013 15:28:29 GMT

I thought you said you already paid the taxes?

Also, I would take to an IRS Tax Advocate, they should be abel to help.

Re: Denied no 2012 return processed

Anonymous — Fri, 26 Apr 2013 19:59:02 GMT

I called tax advocate nothing they can do either.

Im going to go rent the house while i wait on IR$ to get to precessing returns.

At least im not losing the house this way, it just sucks i cant do anything with the house until i actually get clearance to buy it from IR$.

So no credit no Home Depot cant do anything with the house before then. Cant thank the IR$ enough for making what is suppose to be the best time in life the worst month of my life and counting. Cant put a fence up for my dog.

Re: Denied no 2012 return processed

Anonymous — Fri, 26 Apr 2013 23:55:27 GMT

Call back and talk to another Advocate. Get the LO to provide you with something in writing stating that the loan will be declined within 30 days, solely because your IRS transcript is not available.

Re: Denied no 2012 return processed

Anonymous — Fri, 26 Apr 2013 23:43:14 GMT

Saw on a other forum that someone with this same problem was able to resolve it by taking their taxes to a local IRS office and having them stamp the return then submit the stamped taxes to the lender.

Something has to be possible, I can not believe they would deny a loan for this, there must be tons of people in the same situation.

Re: Denied no 2012 return processed

Anonymous — Tue, 30 Apr 2013 03:16:53 GMT

I was told stamped return is no good either.

So this lender is strict and that blows because i was going to use Mortgage Lender of America but my Realtor told me to use her LO and look where that has me today.

Kicking myself but MLA may have been the same. So im stuck moving from Oregon to Florida this Friday to lease until IR$ process my returns so i can get final approval clear to close on the house. I got notice from LO i was approved with IR$ transcripts as last condition. Its just so stupid, everyone knows its just a wait for processing.

I was suppose to close today.

Re: Denied no 2012 return processed

Anonymous — Tue, 30 Apr 2013 09:12:28 GMT

Our lender is having us get our taxes stamped for our uw

Re: Denied no 2012 return processed

Anonymous — Tue, 30 Apr 2013 19:51:28 GMT

Did the lender accept them however?

Some lenders clearly have less strict rules.

Re: Denied no 2012 return processed

Anonymous — Tue, 30 Apr 2013 19:57:42 GMT

Holy crap our transcripts are actually ready! I just checked online again at https://sa2.www4.irs.gov/irfof-tra/start.do and where last week it was saying "2012 Taxes Not Found", it now says they will be mailed to me in 7-10 business days! We e-filed 03/24.

Very odd that yours are not processed yet especially since I think you filed in January? Something seems to be wrong there.

Re: Denied no 2012 return processed

Anonymous — Wed, 01 May 2013 14:48:09 GMT

Yeah its messed up for sure. Checked just now still no.

Friday i head from Oregon to Fl as a renter not a home owner.

This shows how important it is to pick the right lender and LO. Many are having success with stamped returns.

I stupidly let my Realtor talk me into using her person because she said she get them done. I got done alright.

Im leasing the house with option to buy if transcripts ever get done. We got a 30 day extension on the offer.

The poblem next is im having to fund the move from my reserves. $4500 by the time i get there. Barely leaves me closing.