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Refinance tax transcription, please help!

Refinance tax transcription, please help!# Living

z*e2014-06-18 07:06

1 楼

Hi,
I am in the middle of refinance.
On June 11 I was told that they ordered my 2013 tax transcription and IRS
told them that they did not have my tax return for 2013. On the same day I
sent them my copy.
Today June 18 I was told that they are waiting for additional tax
transcripts which were ordered. The supposed closing date is June 23. I am
afraid that we will not able to get it before June 23.
I did GOOGLE search and found that I can actually call IRS to fax the tax
transcription.
Should I do that? I am wondering why the loan office does not know that. How
many days will it usually take to get the tax transcripts? If IRS told them
they did not have it, why they are waiting for it? And why IRS did not have
it? IRS cashed my check in 4/24/2014.
Please help,
thanks,

r*d2014-06-18 07:06

2 楼

可以自己直接却当地IRS拿。现在确实慢

z*e2014-06-18 07:06

3 楼

will it be different from my copy?

z*e2014-06-18 07:06

4 楼

I got it from http://www.irs.gov/Individuals/Get-Transcript.
The problem is, IRS has my 2013 account transcript (showing the check I sent
to them and they cashed it on 4/22/2014), but not my 2013 tax transcript.
I filed with paper return. I wonder if that is the reason they did not have
record of it yet.
Any experience of how to deal with this problem.
Thanks,

z*e2014-06-18 07:06

5 楼

When will my Tax Transcript be available?
If you filed your taxes electronically, your transcript should be ready to
be requested two to four weeks from filing. If you mailed in your tax
return, it could take an additional four to six weeks before the tax
transcript will be available.

z*e2014-06-18 07:06

6 楼

Can anyone help me to understand how important the tax transcript is in
refinance. If it is not available yet from IRS, which substitutes (such as w
-2) are OK,
Thanks

I*A2014-06-18 07:06

7 楼

Lender generally will request the tax transcript from IRS to compare the
actual one you provided to make sure all numbers are match, and once it was
verified, they can proceed to use whatever income you filed on tax because
it is true and valid. If they only use your copy, even with W2, how are you
going to show lender that your copy is the final one, and you didn't alter
anything on it? So tax validation is one of the necessary verify process.
For those who filed in April, since IRS has a huge volume at the time, their
processing time will be longer (although they may cash your check right
away), especially those not e-filed, mail out will take even longer. We have
clients mailed out exactly on the deadline and still no record showing on
IRS now.
Some lenders do understand the situation, so if you are purely on W2 which
is the simplest income and has no schedule C or E, some may give exception
to close without 2013 tax validation. Try this.

o*p2014-06-18 07:06

8 楼

eFile 税季需up to 4 weeks, paper file 更久。
你的loan agent 应该帮你想办法，拿exception.

R*12014-06-18 07:06

9 楼

给您几个解决方案做参考：
1. Lender要transcript的目的是要把transcript和你提交给lender的税表对一下以确
保你给lender的税确实就是file到IRS那里去的。你可以把IRS cash走的你的支票正反
面交给银行，同时把你的银行转帐记录show给银行看，显示IRS已经把钱取走，且数额
刚好与tax return上你欠IRS的钱match。一般银行都能拿这个替代IRS的transcript。
2. 如果上述不行，那么看看能不能叫某个CPA写个letter，证明你给lender的tax
return就是你实际file给IRS的，也能有用。
3. 如果还不行，那么你可以马上赶快跑到IRS local office自己去拿一份2012年的tax
transcript，用来替代2013年的（别让lender自己向IRS要，那要至少3个business
day，赶不及你的closing date）, 然后把2012年的tax return也给lender。Lender应
该会接受，因为他们至少需要一年的transcript on record。（IRS的delay，总不能让
这个理由让申请人的贷款死掉吧？）只有一个情况会让此方法不行，那就是你是自雇（
self-employed）且你需要用到2013年税表上的收入。
Hope it helps and good luck!!!

w

【在 z****e 的大作中提到】

: Can anyone help me to understand how important the tax transcript is in
: refinance. If it is not available yet from IRS, which substitutes (such as w
: -2) are OK,
: Thanks

z*e2014-06-18 07:06

10 楼

Thanks everyone!
I called IRS this morning, and confirmed that they received my payment with
return (account transcript), but their system did not have the tax return
yet. Meaning, they received my tax return, took the check, and cashed the
check. Then the tax return is transferred to another department to process.
It could be the tax return got lost during the process, or they haven't
finished my tax process yet.
I also sent my lender the bank statement, which showed the check cashed by
IRS on 4/22/2014. The check has my name and address on it. The number is
exactly the same as the tax return I gave them, and the same as the account
transcript from IRS.
Then I called the lender, and explained to her. She called me back in 4
hours, and told me my loan is ready to close.