Tag Archives: Tax transcripts

Why does your lender want a Form 4506-T from you?

In the simplest terms, it’s a form that lenders use to verify you filed a tax return and confirm the income you reported on your mortgage application. On the other hand, it can also prove that you didn’t file a … Continue reading

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Is a tax return transcript the same as a tax return?

When you’re applying for a mortgage, auto or business loan, you’ll be asked for a variety of documents to prove your income. The lenders will typically ask for your credit history, information on your debt, recent paystubs, legal documents like … Continue reading

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What Is a Tax Transcript and Why Might I Need One?

From time to time a person is asked to prove his or her income by producing tax returns. This is why tax preparation experts recommend holding on to tax returns for several years. But what if a person doesn’t have … Continue reading

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Why do underwriters need tax returns?

If you’re in the process of applying for a mortgage, it’s likely you’ve been providing the underwriter with lots of documents. Mortgage companies typically ask for pay stubs, legal documents, and bank statements to verify your financial well-being. The mortgage … Continue reading

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Will mortgage lenders accept a tax transcript?

Mortgage companies want to prevent fraudulent loan applications from being accepted. One way they do this is by verifying an applicant’s tax return. Lenders can go right to the IRS and request transcripts. This means there will not be any … Continue reading

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