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Bryant, Real Estate Pro in Raleigh, NC

Will unpaid 2012 income taxes stop my mortgage from getting approved.?

Asked by Bryant, Raleigh, NC Tue May 14, 2013

I have applied and been approved for a home loan. I have filed but not paid my 2012 income taxes (about 200 dollars). Once the 4506-T is pulled will the unpaid balance report and stop me from closing on a home?

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4
And your.2013.tax return as will

Good luck
0 votes Thank Flag Link Tue May 14, 2013
A great question for your lender, but yes it could.

Of course it's an easy fix as the IRS likes to accept payments from taxpayers and you should certainly go ahead and make that payment.

Remember to save your receipt so you can prove that you are current.
0 votes Thank Flag Link Tue May 14, 2013
You would need to have the agreement from the IRS and have paid at least 3 payments. Also your 2012 taxes would need to be validated by your lender as well in order to consider the income for that year. Meaning that the IRS has received and processed your taxes and that has been validated by a 4506T. Let me know if I can help! 919-747-7935 - Cameron Chapman - River Community Bank
0 votes Thank Flag Link Tue May 14, 2013
OK, I have read a few different things on the subject. Some say the 4506T just validates your income (along with W2's, 1040 and paystubs), and only shows tax liens and collection attempts. Do you have any insight on that?
Flag Tue May 14, 2013
Could very well become an issue. . I'd check with my mortgage lender, as the underwriters will want to verify the two most recent years of tax returns, 2012 and 2011
0 votes Thank Flag Link Tue May 14, 2013
OK, I have read a few different things on the subject. Some say the 4506T just validates your income (along with W2's, 1040 and paystubs), and only shows tax liens and collection attempts. Do you have any insight on that?
Flag Wed May 15, 2013
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