TAX TIME AND THE GOVERNMENT SHUTDOWN

As a result of the ongoing Federal Government shutdown, NACA will delay the requirement of Tax Transcripts for new Members.  Please note that the requirement for a tax transcript for the past two years’ returns is only being DELAYED, not SUSPENDED. All affected members will need to obtain tax transcripts from the IRS as soon as the shutdown ends or an appropriations bill is passed that allows the Treasury Department/IRS to re-open.

This delay does not apply to Members that have not been able to verify they filed at previous requests.

Members must still submit their completed and signed tax returns from the past two years. For the time being, we will accept a signed statement that reads “I attest the attached 1040s are what I filed, and I will obtain transcripts when they become available” in lieu of the accompanying transcripts.

Reminders:

  • 2018 W2s are still Required as of 1/31/2019 for all Members that had W2 income in 2018.  This is for both Credit Access and Qualification submissions.
  • 2018 1099s are still Required as of 1/31/2019 for all Members that had 1099 income in 2018.  This is for both Credit Access and Qualification submissions.
  • All Self Employment Members must have 12 months bank statements in their file to determine affordability.
  • THE GOVERNEMNT SHUTDOWN HAS NOT CHANGED THE FEDERAL TAX FILING DEADLINE OF APRIL 15TH. 2018 Form 1040s are required to be submitted to your NACA file as soon as either (1) indication taxes have been filed (IRS deposit check, payment check, payment to tax preparer indicated in bank statements, tells their counselor they filed, etc.) or (2) by April 15th, 2019 , whichever comes first.
  • We do not accept the filing for an extension (form 4868) as a filing.  Most people that file for an extension wind up owing taxes and we need to verify they have the minimum required funds to purchase after taxes are resolved.
  • PLEASE REMEMBER that NACA employees are neither authorized nor qualified to give tax advice.
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