Monthly Archives: July 2012

Made-in China

Posted on July 30, 2012 by Sandra James

We recently came across a piece of news, which said that Chinese banks had been given the permission to buy major stakes with their American counterparts. These deals have been signed between the U.S. and China hoping to strengthen the … Continue reading →

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Should Borrowers Sign 4506-T for Refinancing?

Posted on July 23, 2012 by Sandra James

The IRS form 4506-T is an important part of the home loan process. Even though you may not notice such a form amidst the numerous papers that you sign, 4506-T is bound to be one of them. In the current … Continue reading →

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Student loans require verification process under new rules

Posted on July 16, 2012 by Sandra James

Moving away from the business of mortgages, let us look into another area where for 4506-T comes into play. It is the education sector, specifically colleges. The U.S. Department of education selects random students for verification and according to the … Continue reading →

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Will I face an Audit for filing Form 4506-T?

Posted on July 9, 2012 by Sandra James

4506-Transcript form is a way for mortgage lenders to get insurance about the information you provide to them in regards to the previous year’s tax returns. Often the concern is, ‘Will filing the form raise any audit from IRS for … Continue reading →

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Can IRS delay your transcript even with a correctly filled 4506-Transcript form?

Posted on July 2, 2012 by Sandra James

According to the current rules, a mortgage lender cannot approve a loan without verifying a customer’s tax information, received after submitting the form 4506-T. Any discrepancies with the filing can cause a delay for the lender and eventually for the … Continue reading →

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