We use cookies to improve your experience and optimize user-friendliness. Read our privacy policy for more information on the cookies we use and how to delete or block them. To continue browsing our site, please click accept.
2023 Tax Calendar
VIEWpoint Issue 2 | 2022
Inflation Reduction Act: Highlights of Key Changes for You and Yo...
The 2022 Gift Tax Return Deadline Is Coming Up Soon
HUD Strengthens the Effects Test
President Biden’s Proposed Budget Includes Notable Tax Provis...
On March 13, 2020, the United States Department of Housing and Urban Development (HUD) issued approval for a 30-day extension for all financial statements having a due date of March 31, 2020 due to the novel COVID-19 virus outbreak.
According to the FAQs released, audited financial statements for these mortgagees will be due on or before April 30, 2020. This extension will be automatic and updated in the Lender Electronic Assessment Portal (LEAP), and as such does not require preapproval from HUD for FHA lenders.
It is important to note, at this time, Fannie Mae and Freddie Mac are not extending their reporting requirements beyond March 31.
Doeren Mayhew is committed to completing our clients’ financial statements as originally scheduled to satisfy reporting requirements. Should your institution require the additional time provided by the extension, please contact your engagement shareholder.
This publication is distributed for informational purposes only, with the understanding that Doeren Mayhew is not rendering legal, accounting, or other professional opinions on specific facts for matters, and, accordingly, assumes no liability whatsoever in connection with its use. Should the reader have any questions regarding any of the news articles, it is recommended that a Doeren Mayhew representative be contacted.
A quick registration is required to view our resources.
You will only be asked to do this one time (unless you don't save your browser cookies).