Category Archives: Small Business Loans

Are credit unions good for a small business?

Using a credit union for your small business can be a big decision with far-reaching effects. There are lots of factors to consider with this decision, but the first thing you need to ensure is you understand exactly what a … Continue reading

Posted in 4506-Transcripts, Financial, Small Business Loans | Tagged , , , , | Leave a comment

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

Posted in 4506-Transcripts, Financial, Home Mortgage, IRS and Tax Transcripts, Small Business Loans | Tagged , , , , , | Leave a comment

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

Posted in 4506-Transcripts, IRS and Tax Transcripts, IRS Tax Audits, Small Business Loans | Tagged , , , , | Leave a comment

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

Posted in 4506-Transcripts, Home Mortgage, IRS and Tax Transcripts, Small Business Loans | Tagged , , , , , , , | Leave a comment

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

Posted in 4506-Transcripts, business taxes, Home Mortgage, IRS and Tax Transcripts, Small Business Loans | Tagged , , , , | Leave a comment