The 4506-T (or 4506-C) is a form used by mortgage lenders to obtain formal tax return transcripts from the IRS.
Mortgage lenders are required to use the 4506-T (or 4506-C) form to obtain formal tax return transcripts from the IRS.
Once completed and signed by the borrower, the form is used as an electronic request for the IRS. The transcripts are used to verify the authenticity of tax returns and/or W-2 forms used in a loan file. Sometimes, the mortgage lender is required to send this request form to the IRS during the closing process; other times, the form only needs to be signed and included in the loan file.
Because the IRS processing turn times vary (e.g., they are much slower during tax season), JVM Lending may request you provide your own copy of tax transcripts from the IRS online website, in order to help prevent closing delays.