Category Archives: IRS and Tax Transcripts

How does a lender verify income?

Buying a home is one of the most important and difficult steps many of us undertake as we try to get a foot on the property ladder. There are many parts to the process of buying a home, but one … Continue reading

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How do I get my adjusted gross income?

Tax season is approaching quickly. Few people feel comfortable filing their taxes without a professional looking at their tax return. One of the most critical aspects of a tax return is the adjusted gross income. The adjusted gross income determines … Continue reading

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What is the difference between taxable income and adjusted gross income?

When doing your taxes, you will find that there is a difference between taxable income and adjusted gross income. Understanding the difference can be useful in various areas. For instance, if you are applying for a loan or for certain … Continue reading

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What You Need to Know About the 4506-Transcript Income Verification

If you are a financial institution such as a credit union, mortgage lender or bank, you may be able to take advantage of a recap regarding how 4506-Transcripts may assist you. The IRS grants wage-income transcripts as well as W-2 … Continue reading

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What Borrowers Should Know About A 4506-T

If you’re applying for a mortgage or other loan, your lender may ask you to sign an IRS Form 4506-T. This form allows the lender to request your tax transcripts directly from the IRS for the last three years. A … Continue reading

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