IRS Blames Budget Cuts for Lengthy Turn Times on Tax Trascripts – Will Your Closing be Delayed??

March 27, 2015 — Leave a comment

jeopardyLet’s play a little IRS Tax Transcripts Jeopardy

Answer: Because the IRS is ‘underfunded’ thanks in part to massive federal budget cuts

Question: Why in the HECK are Tax Transcripts taking forEVER to process????

Update from one of the larger Third Party Validation Services explains why these transcripts, which lenders require to process a home loan, are taking considerably longer than usual.

  • IRS Blames Budget Cuts for Lengthy Turn Times on Transcripts
  • From: *RAIVS Communication Sent: Wednesday, February 25, 2015 4:26 PM Subject: IVES Requests As you may be aware, the IRS is operating at the lowest level of funding since 2008, and the lowest since 1998 when inflation is considered. All areas of the IRS are affected by the difficult choices these budget cuts have forced us to make. We recognize the importance of providing timely IVES products to you and your customers. We will continue to expedite IVES service and make every effort to handle your requests as quickly as possible. However, you may experience a longer turnaround time than in the past. Thank you in advance for working with us as we work through this change.

now back to your regularly scheduled programming,

-Cole

Advertisements

No Comments

Be the first to start the conversation!

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s