Lenders, are you prepared for changes from the IRS?
The IRS had initially set a deadline of March 1, 2022 to conform to their new 4506-C clean form requirements, but they’ve recently extended the cutoff date to October 1, 2022. Although lenders now have an additional seven months to abide by the updated conditions, several other major changes on the horizon will cause a seismic shift in how lenders and borrowers interact with and submit tax return verification requests.
Source: housingwire.com
