The Internal Revenue Service will on Monday resume processing requests for tax transcripts made through its Income Verification Express Service program — a service that has been suspended since the partial government shutdown began on Dec. 22, 2018. IVES is used by mortgage lenders to verify income as part of loan originations, and the shutdown threatened timely settlements.
American Bankers Association staff strongly advocated with the Treasury for the IRS to resume its transcript service. In a message to trade associations announcing the reopening, a Treasury official noted that transcript requests may take longer to process as the program ramps back up to normal operations and clears the backlog since Dec. 22. For more information, contact ABA’s Rod Alba.