Industry Expresses Support for E-Signatures on Form 4506-T

Starting January 2013, the ""IRS"":http://www.irs.gov/ will accept electronic signatures on Form 4506-T, which will make the process for requesting tax return transcripts easier.

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""National Credit-reporting System, Inc."":http://www.ncstrv.com/Home (NCS), a full-service consumer reporting agency specializing in income, identity, and credit intelligence, announced the news in a release after receiving communication from the IRS as a participant in its ""income verification express service"":http://www.irs.gov/Individuals/Income-Verification-Express-Service (IVES).

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""This is most welcome news and builds on technology the IRS has deployed, such as the IVES program,"" said Bob Knuth, president and CEO of NCS.

According to a company release, NCS executives, led by SVP Cecil Bowman, have presided over NCS and multiple financial industry discussions with the IRS to back the use of e-signatures on 4506-T requests.

Bowman, a 35-year veteran of the IRS, is chair of the Mortgage Banker Association's (MBA) Form 4506-T Workgroup.

""MBA"":http://www.mbaa.org/default.htm also announced its support for the change in a release, stating it ""should speed the process for closing or modifying a loan.""

""The current process for requesting a borrower’s tax return transcript is labor intensive and time consuming,"" said MBA president and CEO David H. Stevens. ""With this announcement, the IRS is making this process much easier and more efficient.""