Will BofA deny me because of the Arms Length Transaction clause?
I have been a renter for 5 years and finally have decided to try and buy the house I have been living in. However, 3 years ago when I was just renting a room in the house, 2008, I had claimed the homeowner as a dependent on my tax return because he had lost his business and was no longer making payments to the bank. At the time I was not even considering purchasing the house so the tax benefit was nice to have. Now, 3 years later, my loan application was denied by the underwriters because I claimed him on my return 3 years ago. He moved out and lives nowhere near here for the last 2 years yet I am still being denied even though I am fully qualified. My question now is, can I go back and legally amend my 2008 tax return to show no dependents and resubmit an offer with a different mortgage company? Or will Bank of America automatically deny it again because it was an arms length transaction the 1st time? I have no relation to the owner in anyway - just a renter and I really like the home and have put alot of my own money and hard work into keeping it nice. If you are a real estate lawyer or BofA Short Sale Rep I would especially like to hear form you. Thank you.
Length of tax year?
When does the tax year officially begin and end? Is it strictly January 1 - December 31 every year? I am pretty sure this is the case but I just wanted to be certain.
$328 per week = How much per year?
The above answers are correct: $328 * 52 weeks = $17,056. Two things to consider: 1) this is the gross pay. Taxes will be taken from each paycheck, so your take-home pay will be ~25% less (the amount depends on how the W-4 was completed and some other factors). 2) This is a really close number, but it does not take into account the end of a payperiod. It could be the last week of year crosses into next year. If you receive the check next year, it will not be considered income for this year for tax purposes.
If you are working for 4 months how much tax refund will you get back?please help...?
It's based on the amount you earned. Not the time you worked.