Tax returns and applying for a mortgage

If you are thinking of applying for a mortgage you can run into problems if you aren’t current with your tax return filings. If you are late and past the Efile deadline (this year Nov 30th), then your return must be paper filed. Paper filed returns have longer processing times and the delay in receiving an income tax Notice of Assessment could mean going past application deadlines.

If you plan on purchasing real estate or refinancing in the next year but have outstanding tax returns now is a good time to get caught up. Give us a call and book a free 1/2hr consultation and we’ll explain what tax saving opportunities you have. Regardless of how many years need to be filed we have the experience and qualifications to minimize late penalties and interest. You may even have refunds that are approaching expiration if not claimed so don’t delay.