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Is Your Loan Waiting For Your IRS Tax Transcripts?

how long does it take for electronic tax return

IRS Direct Tax Return Verification (4506-T) Service from Avantus is the fastest and easiest way to verify borrower income available on the market today — and with the recent integration of 4506-T Electronic Signature capability, mortgage loan originators can significantly streamline operations and get their loans to closing faster.

With more lenders requiring a 4506-T tax transcript on every loan and faster turnaround, time lost processing transcripts manually could mean fewer closed loans.

The Avantus IRS Direct Tax Return Verification Service with electronic signature automates the entire 4506-T process to verify income. Avantus customers can process requests in the Avantus online ordering system or in their loan origination system, such as Calyx, Encompass, and LendingQB. The IRS Direct Service tracks each tax transcript in real-time from submission of the 4506-T request through the delivery and viewing of the finished report. You will always know where your requests are in the process, helping you get your loans to closing quicker and easier than ever before.

Verify up to four years of previous income and receive your tax transcripts in 24 to 48 hours. By interfacing directly with the IRS, Avantus customers can be confident that they are receiving their reports as soon as they are available; virtually eliminating the time, expense and errors of manual processing.

4506-T Electronic Signature Capability

Lenders now have the capability to utilize IRS E-Signature for their 4506-T verifications with Avantus. This completely paperless process can significantly reduce costs and turnaround time by reducing errors and lag time associated with the traditional "wet" signature process. For lenders that still do not accept electronic signatures, Avantus will continue to support traditional 4506-T submission in the same secure and efficient manner as before.

Benefits of Using E-Signature on 4506-T

  • Streamlines

    documentation processes, getting loans to closing faster

  • Reduces IRS rejection rates due to errors
  • Reduces signature fraud
  • Improves the overall experience for your borrowers

Frequently Asked Questions

What is a Form 4506-T?

How long does it take to receive tax transcripts?

Note: The IRS considers any request for tax transcripts received after 2:00 p.m. EST as a next business day order.

Are there any fees to setup an account?

How are the IRS transcripts delivered?

The IRS tax transcripts are delivered electronically into your order profile on our secure website. When Avantus receives the data from the IRS an email is sent to notify the user. The transcripts come in PDF format (Adobe Acrobat is required to view document.)

How do you place a 4506-T Order?

Our tax transcript ordering process is fast, easy, and simple. You login to our website and create the order online by uploading the form 4506-T directly into our online ordering system. You will then check off the items you need to match the 4506-T form and the system takes over from there, it's that EASY!

For step-by-step instructions on ordering from the Avantus system, read How to Order Tax Return Verifications.

How many years of tax return information can I request?

You can request verification of up to the last 4 tax years.

The tax payer filed an extension this past tax year. How long does it take the IRS to add the tax return to their database?

It typically takes the IRS 6 to 8 weeks to add new filings or corrections to their database.

What are some of the most common reasons why an IRS Form 4506-T are "rejected" or not processed?

Category: Taxes

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