All Posts Tagged With: "4605"
What If I Don’t Sign The Lender’s Form?
Question: When applying for a mortgage we were asked to sign a form which would allow the lender to check past tax returns. This doesn’t seem right. What happens if we don’t sign?
Answer: Most probably you have been asked to sign IRS Form 4506. This form authorizes the IRS to provide tax returns for selected [...]
Why Do Lenders Want Tax Returns?
There are several reasons why lenders want to review tax returns for the past two or three years.
First, they want to assure that the income you claim in your loan application is also the income you report to the IRS.
Second, if you are self-employed lenders may be able to “add back” items which are deductible [...]
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