IRS

Paycheck information gleaned from bank accounts is emerging as an alternative to verifying a mortgage applicant's income and employment with a 4506-T tax transcript request to the IRS.

The itemized deduction for investment fees may have been eliminated, but clients still need guidance on paying IRA expenses. Here's what to tell them.

Financial services groups are calling for more funding for the Internal Revenue Service that could fix flaws in the agency's system for verifying the income of mortgage applicants.

Problems with the IRS-managed Income Verification Express System, or IVES, have stoked concerns about delayed mortgage closings when volume picks up this spring.

Here's a look at what happens at five federal agencies that support the mortgage industry during a government shutdown.

The IRS has taken corrective actions to speed up its income verification system, avoiding a possibly crippling slowdown for the mortgage industry, but long-term issues remain.

Top officials at the Internal Revenue Service met with mortgage industry groups this week to discuss possible fixes to the agency’s verification system, which lenders rely on to process mortgage loans.

Mortgage lenders are bracing for big delays in the processing of mortgage applications, citing a problem with the income verification system at the Internal Revenue Service.

The expected refund is tied to loans that investors bought when they acquired the failed BankUnited in 2009.

Rep. Patrick McHenry, R-N.C., plans to reintroduce legislation requiring the IRS to fast-track income verification, which proponents say could reduce the financial industry's dependence on credit bureaus.