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Tax Transcripts (4506-T)

Determine a borrower’s income quickly and reliably.

Transcripts are used to verify the validity of a borrower’s income, by referencing tax returns filed with the Internal Revenue Service.

**NOTE From the IRS:
Internal Revenue Manual (IRM) procedures require the IRS to verify address information provided by the taxpayer on their Forms 4506T or 4506T-EZ as part of the IRS validation process. If the address information provided by the taxpayer, either their current address or their previous address shown on their last return filed does not match what is on the IRS master file records, the request will be rejected.

Benefits

  • Turn-around is 3-4 business days (holidays, tax season, and year-end could cause delays)
  • Accept Electronically Signed 4506T with e-Signature audit trail certification documentation
  • 1040 Individual Income Tax Returns with or without W-2/1099
  • W-2 Wage Income Transcripts & 1099 All Wage and Income Transcripts
  • 1065 Partnership Income Tax Returns
  • 1120 Corporation Income Tax Returns
  • K-1 All Forms Income Transcripts
  • Low-cost method to determine a borrower’s income quickly
  • Streamline the loan approval process

Highlights

  • Obtain Transcripts directly from the IRS, to compare the documentation provided by the borrower with what was actually filed with the IRS
  • Fraud prevention tool
  • Perform Quality Control on funded loans
  • A convenient method to verify income information, for documentation which may have been misplaced or is unavailable to the borrower
  • 1040 information is reported to the IRS by the Taxpayer
  • W-2/1099 information is reported to the IRS by the Employer
  • For 1040, The 4506T needs to reflect the Taxpayer’s Tax Return Name & Filing Address(es) for the person and years being ordered
  • For W-2/1099, The 4506T needs to reflect the Taxpayer’s W-2/other Income Address(es) for the person and years being ordered

IRS Phone Numbers

  • IRS Customer Service 800-829-8374
  • IRS Identity Protection Security Unit 800-908-4490
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