IRS Form 4506
This is an IRS Form 4506, Request for Transcript of Tax Return. It’s one of the standard required loan disclosures. And it’s your authorization for us to pull a copy of the tax return from the IRS.
IRS Form 4506 is an anti-fraud measure. And it makes sure that any tax documents that you might give us, tax returns, or W-2s are accurate and match what the IRS has on file to make sure there’s no fraud.
There is a critical point to know. When we generate this form for your signature make sure that the way that your name and the way that the Social Security number and the way that the address reads on this form is accurate. It must exactly match the information as you file it on your tax return. If there’s one error, a missing initial, if we have the street name wrong, if we’ve spelled out Street, but you file the tax return St. Or if we have Ln. And you’ve spelled out Lane, the form will get kicked back and won’t be completed.
So when we send you this form for signature, make sure all the information matches exactly. You would electronically sign and date it at the bottom. And that’s all that needs to happen. Just make sure everything is complete and accurate on the form.