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PDtax
PDtax, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 4106
Experience:  35 years tax experience, including four years at a Big 4 firm.
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I need to speak with an accountant, Florida, Yes, Yes. My

Customer Question

I need to speak with an accountant
JA: What state are you in? It matters because laws vary by location.
Customer: Florida
JA: Has anything been filed or reported?
Customer: Yes
JA: Anything else you want the lawyer to know before I connect you?
Customer: Yes. My question relates to rental income that I didn't file in 2015 (I was planning to file an amendment). I am trying to qualify for a mortgage and I can't because I didn't file the income in 2015 returns (they are counting the mortagage payment against my debt to income ration). I am trying to figure out what to do in order to fix the mistake I made and qualify for my mortgage
Submitted: 1 month ago.
Category: Tax
Expert:  PDtax replied 1 month ago.

Hi from Just Answer. I'mCustomer and can assist.

Expert:  PDtax replied 1 month ago.

Best is to prepare the amendment (1040X - on paper) and keep a copy for your mortgage lender. The lender will be able to see the mortgage interest you want to report, and use the income as a qualifying factor.

Send it to IRS, certified mail, with a return receipt. The green receipt will serve as proof that IRS has the return, as many lenders are using IRS filed returns, not just the copy you might provide) to support your application. Since mailing your return in will take some time for IRS to receive and process, you can prove IRS has it, and that should remove that potential holdup.

Thanks for asking at Just Answer. Please rate my assistance if I have answered your questions, or ask any follow up you need. Positive feedback is appreciated. I'mCustomer

Customer: replied 1 month ago.
Thank you. I have another questions (I can pay extra if you provide a response).I have a LLC but the LLC has had no income. I want give myself paychecks, produce the w-2's and include that in my 2015 and 2016 tax returns. If I do:1) How do I pay my late 2015 and 2016 FICA taxes to the IRS? Would I pay a penalty or have to file a special form because I have not paid these taxes to the IRS up to now?
2) What forms would I use to file the business taxes?Thank you!
Expert:  PDtax replied 1 month ago.

This will be more involved than you might think. An it may not work at all if you are the only LLC owner-member.

I'll address your additional questions by posting an Offer of Premium Service to assist.

I will answer your questions upon acceptance. Please also confirm your ownership structure, and when you first set up the LLC.

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