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Missing Tax Returns Can Be a Red Flag for Lenders
October 15, 2020 In 4506-T Tax Transcripts, Blog, IRS and Tax Transcripts, Lender Solutions, Small Business Loans

Missing Tax Returns Can Be a Red Flag for Lenders

Missing tax returns usually means trouble, and it’s a safe bet that they weren't all lost in the mail.Even experienced loan underwriters can overlook the significance of a missing tax return. By itself, a public records check showing that a business has no tax liens

The Importance of Obtaining Verified Tax Returns
September 28, 2020 In 4506-T Tax Transcripts, Banks, Blog, Business Taxes, Credit Unions, Financial, IRS and Tax Transcripts, Lender Solutions, Small Business Loans

The Importance of Obtaining Verified Tax Returns

When it’s time to consider the financial situation of a business or individual for a loan or mortgage, lenders agree that verifying tax transcripts directly from the IRS is one of the most important steps to take when evaluating the borrower’s ability to repay the

March 6, 2020 In 4506-T Tax Transcripts, Business Taxes, IRS and Tax Transcripts, IRS Tax Audits, Lender Solutions

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 divorce decrees and your tax information.

September 17, 2019 In 4506-T Tax Transcripts, Blog, Financial, Home Mortgage, IRS and Tax Transcripts, Lender Solutions

Do Mortgage Lenders Look at Tax Returns?

Mortgage lenders are important because they make it possible for Americans to have homes. However, every time they offer a home loan, these lenders take a risk that the borrower may not be able to repay the money. Therefore, they need to look at as

January 18, 2018 In Blog, IRS and Tax Transcripts, Lender Solutions

How many years of taxes do you have to keep for a business?

As the looming tax season approaches, many taxpayers scramble to find the answers pertinent to their unique employment, investment and business-related questions from qualified accountants. The question of how long to hold on to tax-related paperwork is one of the most frequently-asked questions that preparers

December 24, 2017 In Blog, Home Mortgage, Lender Solutions

Why does a mortgage company need a transcript of tax return?

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

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