IRS

Many layoffs so far have been in the Small Business/Self-Employed Division, but the Large Business & International Division has also been affected.

The lender is asking U.S.Tax Court to find IRS adjustments in error and clear the company of any liability or penalties.

The agency plans to restrict access to a system that provides borrower tax returns to mortgage lenders beginning June 30. Left out of the loop, small-business lenders say getting credit to borrowers will become more difficult as a result.

Two tax experts share the key strategies for financial planners and tax professionals to discuss with clients in the fourth quarter.

The expanded relief on tax income data will become accessible this fall, according to a press release LoanBeam issued this week during Freddie Mac's Connect client conference.

The Mortgage Industry Standards Maintenance Organization drew up the recommended wording in consultation with a group of lenders and investors after the passage of the Taxpayers First Act last year.

The Mortgage Industry Standards Maintenance Organization is working with stakeholders to come up with a common means of handling new tax transcript authorization requirements in the Taxpayers First Act.

Learning to understand the risk rather than adding steps to the mortgage application process is the way to mitigate fraud.

The Structured Finance Industry Group wants Treasury and the IRS to issue a notice that a change from Libor to an alternative index would not be treated as a taxable exchange.

Borrowers and financial institutions may be feeling the strain from reduced operations at the FHA and IRS, which has suspended the release of certain income documentation during the budget impasse.