What Do Underwriters Look For On Tax Transcripts

If you need your prior year adjusted gross income (agi) to e-file, choose the tax return transcript type when making your request.If you only need to find out how much you owe or verify payments you made within the last 18 months, you can view your tax account. But the larger issue is the nature of loan processing and underwriting a loan.

Our tax account transcript does show out correct income but still has all the fraudulent info on it too. All the IRS did was. Underwriters often need to request tax return transcripts from the IRS to confirm whether a client owes money to the IRS and whether a payment plan is in place.

Tax return transcript for mortgage underwriter : RealEstate – Tax return transcript for mortgage underwriter (self.RealEstate) submitted 3 years ago by DUMBledore_thegray. I am trying to close on a house this weekend and the only thing that our mortgage company is waiting on is our tax return transcripts for 2014 and 2015.

Re: What exactly are underwriters looking for on tax transcript? Last 2 years of tax transcripts, very rarely is a 3rd year needed. If you know you are delinquent on other federal debt (such as the IRS) that needs to be disclosed though, so best to file all at once as if they keep on finding that you just filed they may want to continue to confirm that you have filed all of your past tax returns.

Some Guests may be able to obtain the tax transcripts from the IRS by mail. They will need to go through the irs identity protection Specialized Unit – 800-908-4490. Documentation that the transcripts were obtained from the IRS is required and the tax transcripts must match the tax returns.

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Your tax return is still being processed: Still Waiting For My IRS Refund after a Month. 2014 Return Underwriting takes place after the loan officer has assembled the application and originated the loan. The file then moves on to the FHA underwriter who carefully reviews it to make sure it meets the lender’s minimum guidelines. What Does the Underwriter Look at? In a Word, Everything. So, what does the FHA underwriter look for?