Bulletin W13-057 – Reminder, Tax Transcript Requirements
Topic included in Bulletin W13-057:
- Reminder, tax transcripts are required for all qualifying borrowers
- Loans that are closing on or after June 15, 2013 (Note date) tax transcripts are required
- Borrowers that have filed an extension the following is needed:
- Copy of cancelled check evidencing tax payments made to the IRS, and
- 2012 Tax Transcript showing “No Record of Return Filed”, and
- For salaried borrowers: current YTD paystubs, the most recent year(s) available tax transcripts, tax returns, W2s, 1099s, etc. as required by AUS and program guidelines.
- For self-employed borrowers; 2010 and 2011 tax transcripts and a P&L for 2012. Any qualifying income derived from borrower’s tax returns (Schedule B, C, E, etc.) will be based on the 2011 and 2010 returns, if the 2012 tax returns are not on the record with the IRS.
Download: Bulletin – W13-057 (PDF)