Monthly Archives: June 2017

Agencies like the USDA have strict rules concerning income verification for home loans. In the past, it was standard practice for lenders to submit a borrower’s tax transcript ad associated IRS Form 4506-T Request for Tax Transcript. Delays and rejections … Continue reading →

Freddie Mac customers have reported that, a few times, requests submitted through the IRS Form 4506-T have been returned with a rejection code, “Limitations.” These sorts of rejections combat identity fraud and stop unqualified access to taxpayer info. Rejections of … Continue reading →

When a loan is submitted to the Small Business Administration (SBA), the agency reviews it to determine if it will honor or deny the guaranty. As part of this process, it requires lenders to submit certain documentation, including transcripts of … Continue reading →

IRS Form 4506-T The U.S. Internal Revenue Service (IRS) provides Form 4506-T for those who seek past records of W2, 1099 and tax returns filed in previous years. Since many individuals file taxes online, these tax records may be kept … Continue reading →