4506-t Mortgage IRS tax forms and the government shutdown.
The 4506-t form is normally pulled to verify your tax return used during the mortgage process. The term “4506-t” refers to the actual form that is filled our when making the request for IRS transcripts. This process will normally take 1-2 days except in the month of April and the first half of May. During that time the delay can be as much as two weeks. We have never gone through a government shutdown this long, since the verification of tax transcripts as been standard practice in the mortgage industry. I would expect that every day they are shut down will add a day to the turn times of the 4606-t forms. What should you do if you are a mortgage lender? watch this video to find out.