Hi, My name is XXXXX XXXXX my goal is to provide you with Excellent Service
1. How many years of income tax returns did the lender request ?
2. What is your reason for not filing income tax returns for 2010 ?
They requested two years returns which I gave them - they didn't fill in the years on the 4056T form - I believe they use it to verify the years I submitted for income but I don't know if they pull the max years available for transcripts regardless - how common it would be to do that - I think they can pull up to three
Not filing in 2010 I was having serious financial trouble at that time and procrastinated
That is the form - I transposed numbers
Thank you, XXXXX XXXXX clearing that up.
The 4506-T is used to request a transcript of, among other things, the taxpayer's 1040.
It is used by mortgage lenders to cross check sources of income. Since you did not fill in for which years the lender could request a transcript, they could very well add 2010 in also. I am not trying to alarm you, but rather to alert you to this fact so that you can have a responsible reason to give them for not filing a return. If it is at all possible, I would file a tax return for 2010. Since you will eventually have to file one for that year unless you had no income in that year, you might as well file it now.
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