Question by  Marybeth (841)

Could I get in trouble if I have never filed my taxes and am buying a house?

I am in the process of buying my new house and am afraid that I will get in trouble because I have never filled taxes.


Answer by  flamiss22 (5081)

What is the reason you have never filed taxes? If you were never required to or have never worked that is alright. If however you purposely did not file contact the IRS right away. You might have to pay back taxes and penalty but if it is a large amount you can get a payment arrangement.


Answer by  Chaneygirl (1755)

The lending company will ask for a copy of your return, possibly past 2 years. They may also ask for you to sign a form 4506-T that they file with the IRS to get a copy of the return. This would create more problems with the loan than the IRS currently, but if you needed to file, do so ASAP.


Answer by  Roland27 (16334)

You can get in trouble if you have not filed taxes but should be filing you can get in trouble. You have to file taxes if you make over $500 in a year. If you are buying a house you are obviously are making money and should be filing taxes.


Answer by  Kurt (4579)

Yes you can get in trouble. The IRS may not notice that you bought a house compared to tax returns that are filed but you need to catch up ASAP.

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