How Our Services At 4506-T Can Benefit Your Business

Businesses work in tight timeframes and each minute in business has to count. Tax return filing and generation of forms from the Internal Revenue Service(IRS) has been made quick, easy and efficient. Technological advancements over the recent past have made tax verification easy as the services have been digitized. Some of the institutions that can use our services include financial institutions and law firms. Banks, lenders and law firms can have access to their client’s information within a reduced time frame that helps them to know their genuineness before they can lend their services to them.

Honesty between a business transaction is of essence but not all people are honest. People have at times complained of being conned or had a transaction with a fraudster. Our services will help you have access to a person’s history on the tax return filing. Having information on a client based on their history will help you make the right decision to avoid any inconveniences that may arise thereafter after transacting.

Our services will help you in retrieving tax receipts from the IRS in easy and simple steps. Our services assure efficiency, accuracy and good communication with the clients through the entire process of form retrieval. We ensure that you receive your documents as soon as possible with our fast delivery plan. One of the major service provided is the IRS transcripts that provide resourceful information about a client. One can also request for their social security forms by processing them from our services. This has been made possible through the integration of our services.

We offer our services, retrieving IRS forms, in case one is filing tax returns, processing a mortgage loan, immigration applications and also when applying for student loans. Our services can also be very helpful as proof of tax filing in case of any legal inconveniences.

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How Can A 4506-t Form Keep Fraud In Check?

In today’s fraud-addled mortgage market, both borrowers and lenders should become familiar with IRS Form 4506-T. This document enables lenders to request a transcript of a borrower’s tax return from the Internal Revenue Service. The form covers multiple years of income tax filings, contains an exhaustive list of each line item entered on a tax return and can also provide information regarding payments and penalties on an account.

Prior to 2008, it was rare for a lender to require a borrower to furnish copies of federal tax returns: Form 1099s, W-2s and 1040s were sufficient. Sometimes borrowers could simply “state” their incomes. Even borrowers with poor credit, insufficient savings, and high debt were given access to home loans. When countless of these “subprime mortgages” went into default, it became clear that this practice of lending without scrutiny was hugely problematic. Ultimately, this brand of lenient lending gave way to the housing crisis of 2008 and the resulting economic downturn.

In order to prevent a future economic crisis, Congress enacted legislation requiring creditors to assess a borrower’s ability to repay a loan before being offered a mortgage. This assessment includes a thorough evaluation of a borrower’s income, which protects the creditor from fraudulent claims and the consumer from predatory lending.

Requiring a borrower to sign a 4506-T at the time of a mortgage application is one such measure that can be used to verify their financial standing. Form 4506-T allows lenders to obtain up to four years of tax data, though borrowers can specify that fewer years be accessible.

Once the form is signed, the lender has the right to examine the borrower’s past tax filings. The lender can then utilize the 4506-T tax transcript to compare the borrower’s W-2s to his or her reported income. If the findings on the 4506-T match the borrower’s reported income, then the lending process can resume. If not, and there are income irregularities or indicators of fraud present, the lending process will be delayed or terminated and the borrower may be investigated further.

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Easy and Fast Order Processing With 4506!

Whenever you need help processing those pesky IRS forms that hinder your growth as a business, look for easy and fast order processing with 4506!

What is 4506-Transcripts.com?
Expert leaders in the tax verification field, 4506-Transcripts.com has helped numerous clients process their 4506-T forms. Thier service has worked with banks, mortgage bankers, and legal firms process these time-consuming requests and ensure that no form is sent in wrong.

Located in Walnut Creek, California, the company was founded in 2010 by Sandra James, who is also the President and Founder of Private Eyes, Inc. (PEI), a pre-employment screening company launched in 1999.

While her company offered their own 4506 transcript service, she recognized the need for a primary service dedicated to solely helping clients file these forms while responding to federally mandated requirements.

What They Offer
An authorized bulk vendor of the IRS, 4506-Transcripts.com order and process thousands of clients’ IRS documents a month. With their industry-leading system, they help file W-2’s, 1099’s, and other IRS forms within a matter of days.

4506-T IRS TRANSCRIPTS
4506-Transcripts.com provides banks, lenders, brokers, and law firms quick access to their client’s information. When requesting a 4506-T from the IRS, it can take anywhere from 30-60 days to have the document processed.

With their service, they can provide fast and accurate transcripts without having to spend time dealing with red tape.

SSA-89 FORM
4506-Transcripts.com also offers integrated processing for Social Security Administration SSA-89 form.

How You Can Get Started With 4506 Today!
The process is simple and fast. Upload your 4506-T to their website, and let experts review the document for compliance and accuracy before sending it off to the IRS. That’s it!

To get going with your pesky 4506-T forms, feel free to call 4506-Transcripts.com’s number at 1-925-927-3333 or email to schedule a free consultation.

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How Can Mortgage Lenders, Banks, and Credit Unions Benefit From 4506-Transcripts?

Before you lend money, it is important to establish the financial worthiness of your client. Traditionally, that was done by checking the client’s credit rating and asking for a copy of his tax return, but that only tells you part of the story.

Tax Returns

While it is great to ask for tax returns, you may be missing out on important information such as:

  • Whether the return was ever accepted by the IRS
  • Whether changes were later made to the return
  • Did the client pay the tax liability in full

4506-T Request for Transcript

An IRS transcript is better proof of income than the return. It is third-party confirmation of the amounts reported on the return, and it gives you a truer picture of the client’s true ability to pay back a loan. It is also a requirement for many types of loans.

Speedy Reply

Requesting a transcript by mail can take 10 days or more, and that is if it is filled out correctly and does not get rejected by the IRS. Many potential clients do not want to wait 10 minutes to know if they qualify for a loan, forget 10 days. With 4506-Transcripts on your side, the transcript request is double-checked for errors before it ever leaves the office. You can get a quick response that allows you to close the deal sooner and with the confidence of knowing you have properly vetted to prospect.

Other Services

Beyond transcript requests, 4506-Transcript is prepared to help you with the following services:

  • SSA-89
  • Verification of assets
  • Employment verification

If you work for a mortgage lender, bank, or credit union, benefit from the rapid, accurate services provided by 4506-Transcript and turn prospective clients into happy customers.

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Getting a Home Mortgage With Your 4506-T

After the housing market crash of 2008, lenders have increased the amount of verification needed to qualify for a mortgage loan. One of the current requirements is form 4506-T, which is an IRS form that requests a tax transcript. This form has been in use for years, but usually only for borrowers with unordinary income and only at closing. Now, however, lenders are asking for the 4506-T from everyone up-front and at closing.

The reason for this increased income verification is that a lot of loans prior to 2009 had exaggerated income statements that led lenders to approve mortgages based on higher incomes. This occasioned many foreclosures for people who could not make the mortgage payments.

Fannie Mae (FNMA) and Freddie Mac (FHLMC) are government-sponsored enterprises created by Congress. They do not originate loans but instead purchase secondary mortgages. These two major enterprises have required lenders to obtain the 4506-T both at the application and at closing for all loan applications since September 1, 2009.

Form 4506-T ensures that the income information provided on the mortgage application matches the actual tax returns filed by the borrower. If the income amounts do not line up with the tax return amounts, then the lender can either modify the original application to align with the tax return or deny the loan request.

The borrower specifies the year(s) of tax returns transcripts needed. A maximum of four years is available for request, but borrowers can request a fewer number of years. This is important because borrowers should only have the relevant tax year information given to the lender.

Having just the necessary information sent to the lending institution curtails the amount of personal information that can be viewed by numerous and unknown people at the lending institutions. With the increasing amount of personal information fraud, borrowers should always protect their personal information as much as possible.

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