IRS Revamps 4506T for HAMP Apps
By Jon Prior

In an attempt to streamline the Home Affordable Modification Program (HAMP) process, the Internal Revenue Service is making available a quick form version of the familiar 4506T form, often used for income verification.

When refinancing or modifying an existing mortgage, taxpayers need copies of their tax return information. Form 4506T-EZ is used to order a Form 1040 series tax return transcript free of charge, according a release from the IRS.

The new form is only for individuals who filed a Form 1040 series. Those who need transcript information from other forms must still use the Form 4506T.

Exact copies of tax returns are available, but each one costs $57 and may take 60 days to process.

HousingWire previously reported on the anticipated release of the 4506T-EZ form when the Treasury announced plans to launch a new short sale program.

Write to Jon Prior.