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Home » Store » Originations » Lenders Wait for IRS to Resolve 4506-T Backlog

Lenders Wait for IRS to Resolve 4506-T Backlog

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In the aftermath of the 16-day partial government shutdown, mortgage lenders have decided to continue suspension of the tax transcript requirement for borrower income verification until the Internal Revenue Service has caught up with the backlog of requests for the transcripts. According to lenders, even though normal operations have resumed at federal agencies, the IRS has fallen behind on processing lender requests for the 4506-T Form, which is a borrower’s transcript of tax return provided by the ...
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