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An automated tax transcript solution that eliminates 4506-T hassles The Internal Revenue Service (IRS) requires that any request for copies of tax transcripts to verify a loan applicant’s income use the IRS 4506-T form. Historically, human errors in filling out these forms have resulted in the rejection of nearly a third of the orders. That has meant countless additional fees and lost time.

Taxdoor™ from Chronos Solutions is a fully automated, one-click ordering process that can prevent these costly delays.

With Taxdoor, a loan officer can initiate the order, ensuring greater likelihood that common errors are avoided. As soon as the transcript order is electronically submitted, the applicant receives a text message requesting that he or she check the order and approve it. It can all be done on a smartphone, or via computer based on the applicant’s preference. The order is then instantly routed to the IRS so processing can begin. Transcripts can arrive as quickly as within 48 hours – days ahead of manual requests.

HERE’S HOW TAXDOOR WORKS:

  • Your mortgage origination team orders the IRS tax transcripts with a single click.
  • Your applicant immediately receives a text and/or email on a smartphone or any mobile device, and instantly authorizes the IRS to release transcripts.
  • The request is immediately on its way to the IRS, and notification that the IRS transcripts are available is your loan officer as soon as they are ready.
  • That’s it. No wondering. No lost time. No additional work on behalf of your staff and no unnecessary frustration!