Posted on: 11th Feb, 2010 01:13 pm
This question might best be answered by a underwriter, or former underwriter.
When the lender sends the signed 4506 form to the IRS, to request copies of tax transcripts. What exactly does the IRS send back to the lender? Complete tax returns?Summary of report? List of W2's submitted?
When the lender sends the signed 4506 form to the IRS, to request copies of tax transcripts. What exactly does the IRS send back to the lender? Complete tax returns?Summary of report? List of W2's submitted?
Hi pcicorp!
Welcome to forums!
As far as I know, once you sign form 4506, your lender would be able to receive copies of your tax return directly from the IRS for as far back as 4 years.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
As far as I know, once you sign form 4506, your lender would be able to receive copies of your tax return directly from the IRS for as far back as 4 years.
Feel free to ask if you've further queries.
Sussane
I know they will be able to review my transcripts as far back as 4 years. My question was what will the IRS send them for review? Complete tax returns? Sumarry of tax return? W2's from your employer?
the irs sends a transcript of your tax return. if you really want to see what they're getting, you can request your own from the irs. w2s are not included, nor any other attachments. it's simply the 1040 that you filed with them.
this can trip up a borrower now and then. if someone submits a tax return to a lender that wasn't legitimate, and the lender gets the transcript showing a different set of numbers, that will squash a loan request at once.
this can trip up a borrower now and then. if someone submits a tax return to a lender that wasn't legitimate, and the lender gets the transcript showing a different set of numbers, that will squash a loan request at once.
