Document Updates: New Additional Tax Transcript Functionality for 4506-C (Cx3095)

IRS Form 4506-C is used to request tax return information. Specifically, Form 4506-C was created to be utilized by authorized IVES participants to order tax transcripts with the consent of the taxpayer. Due to the IRS announcement regarding requiring “clean versions,” and because of the way certain tax verification software services are set up, many clients may now need to be able to trigger additional copies of the 4506-C for each borrower. These additional copies need to have different data populate on lines 6, 7, and 8 on Form 4506-C, even though the rest of the data on the documents remains the same.

In order to support this in a manner that does not interfere with existing functionality, we have created a new Multi-Doc Collection that we will use for our generic copy of the 4506-C, Cx3095. The new MDC is “4506C – Additional Form Requests” and is intended to generate one copy for each Borrower AND one copy for each additional tax form request if a corresponding indicator is set to ‘Yes’. The first copy of Cx3095 will print the same as it does today, using the same fields. The second/third/fourth copies are optional and will trigger based on two new sets of fields; one set that operates on a “per borrower” level, and one set that operates on a “per loan” level, as shown below.

If the client wants to trigger the new Request 2, Request 3, or Request 4 copies per borrower, the following fields should be used:

Print Borrower 1 4506 Request 2 (FI 152915)
Print Borrower 1 4506 Request 3 (FI 152916)
Print Borrower 1 4506 Request 4 (FI 152917)
Print Borrower 2 4506 Request 2 (FI 152918)
Print Borrower 2 4506 Request 3 (FI 152919)
Print Borrower 2 4506 Request 4 (FI 152920)
Print Borrower 3 4506 Request 2 (FI 152921)
Print Borrower 3 4506 Request 3 (FI 152922)
Print Borrower 3 4506 Request 4 (FI 152923)
Print Borrower 4 4506 Request 2 (FI 152924)
Print Borrower 4 4506 Request 3 (FI 152925)
Print Borrower 4 4506 Request 4 (FI 152926)

If the client wants to trigger the Request 2, Request 3, or Request 4 copies at a loan level for all borrowers, the following fields should be used:

Print 4506 Request 2 (FI 152912)
Print 4506 Request 3 (FI 152913)
Print 4506 Request 4 (FI 152914)

Note that the new Request 2, Request 3, and Request 4 copies will use new fields to populate the document differently only for lines 6, 7, and 8. All other sections of the 4506-C will use the same fields as the first copy (Request 1). While either the “per borrower” or “loan level” print trigger fields above can be used, the new fields listed for each 4506-C line below are triggered based on existing field “Use Borrower-specific Fields on 4506-T” (FI 111704). Like today, if “Use Borrower-specific Fields on 4506-T” is “Yes” the “per borrower” fields will be used throughout Cx3095. By default, the “loan level” fields are used. The fields used to control lines 6, 7 and 8 are:

Line 6. Transcript requested.

“Loan level” fields populate Cx3095 by default, so line 6 by default uses:

4506-T Sect. 6 Form Name Request 2 (FI 152987)
4506-T Sect. 6 Form Name Request 3 (FI 152988)
4506-T Sect. 6 Form Name Request 4 (FI 152989)