IRS 4506-T set to go electronic by January 2013

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The internal revenue service announced that it will begin allowing electronic signatures on the common mortgage origination document, Form 4506-T.DocMagic eservices director tim anderson said the IRS will make the move to an all-electronic 4506-T some time in January."This is a major final step in getting to a true paperless eMortgage process.

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IRS to accept electronic signatures on 4506-T form. Lenders use the form to verify the income of borrowers. When signed by a taxpayer, Form 4506-T authorizes the IRS to release transcripts showing previous tax returns, W-2 data, and 1099 information to a third party. This third party can be a lender, employer or even one’s accountant.

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IRS Form 4506-T is a request from the tax payer to the IRS to issue transcripts of their tax returns or other information for specified financial years or periods. IRS issues the transcripts or information to the tax payer or a third party authorized by the tax payer. Form 4506-T is also known as Request for Transcript of Tax Return Form.

The debtor can request free transcripts of the debtor’s income tax returns by filing form 4506-T, Request for Transcript of Tax Return, with the IRS or by placing a request on the IRS’s free Automated Delivery Service (ADS), available by calling 1-800-829-1040.

Topic page for Form 4506-T,Request for Transcript of Tax Return

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