Category Archives: IRS and Tax Transcripts

Why is a 4506-T required?

A form that many people first meet when they’re applying for a loan is a 4506-T. Although this form may seem daunting at first, it’s a relatively simple form that most people can complete quickly. Today, we’re going to look … Continue reading

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Do lenders verify tax returns?

When you are applying for a mortgage, your potential lender wants to make sure you are telling the whole truth about your income and assets before approving your loan. To make sure there is no fraudulent activity, your lender will … Continue reading

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What are the types of business taxes?

The Types of Business Taxes When running a business, it’s best to keep up with your taxes to avoid penalties. Throughout the year, a business can pay the taxes that they owe from their annual income quarterly or yearly. In … Continue reading

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Why does my bank need a 4506-T?

A 4506-T is an IRS form also known as a “Request for Transcript of Tax Return.” This form requests that the IRS send you a copy of the tax return information they have on record, up to ten years prior. … Continue reading

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What happens if you get audited?

There is a five-letter word most of us fear: audit. Movies and television shows have portrayed being audited as a scary experience with men in suits coming to your home and grilling you like a common criminal. The good news … Continue reading

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