Obtaining a W-2 form from past years is necessary for filing your taxes, especially if you are preparing for an audit or have been informed of possible tax refunds by an accountant. You might be asked to submit proof of your income, in case you
In today’s sluggish economy, where corporations are downsizing and sending jobs overseas, recent college graduates and disaffected workers are looking for ways to live a comfortable life outside of going the traditional employee route. This is why starting a small business has become increasingly popular
When applying for a mortgage, the potential borrower is asked to submit several pieces of documentation to the lender. Documents that are typically required include recent tax returns, pay stubs, W-2 forms, statements from any bank and investment accounts and information about outstanding debts. A
Tax season is coming upon us, and many employees are wondering how long their current or previous employers have kept their W-2 forms on file. Record retention varies depending on the documentation that is in question, but there are specific regulations regarding W-2 retention. The
Identity theft is a serious problem throughout the world. Banks and other businesses need to take active steps to stop it from occurring. When appropriate measures are taken, identity thieves can be stopped in their tracks. It is especially important to verify the identity of
https://blog.4506-transcripts.com/wp-content/uploads/2016/04/4506t-flat-sm-1.jpg?w=640 Most banks, legal institutions, tax firms, legal firms and even government agencies can request IRS tax transcripts for various reasons. The retrieval process for tax transcripts can be cumbersome and tedious, involving signing up online, waiting for verification via mail, calling the IRS or a
It’s not uncommon to wonder if filing a 4506-T form might trigger an IRS audit. Some borrowers are hesitant to file the 4506-T out of concern that any discrepancy between their loan application and their prior tax filings could lead to an audit or even
Fannie Mae and Freddie Mac require mortgage lenders to obtain an income tax transcript from the IRS for each loan applicant. The tax transcript is necessary to verify the income of the borrower. Lenders can remain in regulatory compliance and ensure the quality of their
Businesses work in tight timeframes and each minute in business has to count. Tax return filing and generation of forms from the Internal Revenue Service(IRS) has been made quick, easy and efficient. Technological advancements over the recent past have made tax verification easy as the
In today’s fraud-addled mortgage market, both borrowers and lenders should become familiar with IRS Form 4506-T. This document enables lenders to request a transcript of a borrower’s tax return from the Internal Revenue Service. The form covers multiple years of income tax filings, contains an