Overview
Accelerate tax transcript retrieval with simplicity
AutomatIQ Borrower Tax Transcripts offer a suite of tailored solutions to speed up your IRS tax transcript retrieval. Whether you’re searching for the convenience of borrower-assisted, the reliability of the 4506-C industry standard, or the flat-rate, cost-effective pricing of the IRS Form 8821, you can have it all while ensuring unparalleled efficiency for your specific needs.
Accelerated processing speed
With AutomatIQ Borrower Tax Transcripts, you’ll experience almost instantaneous verification. This solution is designed specifically for the urgent timelines of the financial and lending sectors.
Improved accuracy
Experience unprecedented accuracy in income verification. Our integration with IRS harnesses IRS API and data connections to reduce human error and provide reliable, current data.
Guaranteed cost savings
You can now ensure fewer IRS rejections with AutomatIQ Borrower Tax Transcripts. That means, less money lost to resubmission fees, administrative handling, and delays.
Accelerated processing speed
With AutomatIQ Borrower Tax Transcripts, you’ll experience almost instantaneous verification. This solution is designed specifically for the urgent timelines of the financial and lending sectors.
Improved accuracy
Experience unprecedented accuracy in income verification. Our integration with IRS harnesses IRS API and data connections to reduce human error and provide reliable, current data.
Guaranteed cost savings
You can now ensure fewer IRS rejections with AutomatIQ Borrower Tax Transcripts. That means, less money lost to resubmission fees, administrative handling, and delays.
User-controlled privacy
ID.me sign-in in AutomatIQ Borrower Tax Transcripts allows users to manage their information disclosure. This creates a safer environment for accessing IRS services while preserving user privacy.
Features
Three products, one solution
With AutomatIQ Borrower Tax Transcripts, you get three distinct products designed to streamline your access to IRS tax transcripts, and each product can be tailored to meet unique needs.
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Speed and savings at one go
The 4506-C Borrower Assisted waterfall approach delivers near-real-time transcript access with borrower approval on the IRS website. Rejections are not charged, it automatically transitions to the traditional 4506-C process.
Instant transcript access with Form 8821
Form 8821 offers near-instant transcript access with borrower approval on the IRS website. Flat-rate pricing includes unlimited requests per loan, and transcripts are processed even if the taxpayer takes no further action.
Fannie Mae® and Freddie Mac® approved
4506-C Direct is authorized by Fannie Mae’s Day 1 Certainty program. Halcyon’s Form 8821 service has been approved by both Fannie Mae and Freddie Mac.
Minimize errors, expedite processes
AutomatIQ Borrower Tax Transcripts seamlessly integrates with major Loan Origination Systems (LOS) to expedite the loan approval process through smooth, efficient processing, reduced manual data entry, and minimized errors.
3-4
average business days to get the tax transcripts using the traditional method.
14.10%
of all orders are rejected by the IRS
84.74%
of these rejections are due to incorrect address, name or SSN.
FAQ
What forms are needed for this process?
For 4506-C Direct, the 4506-C form is required. For Borrower Assisted, no form is needed, and for 8821, the Form 8821 and Halcyon Consent forms are required.
What is Halcyon?
Halcyon is an IRS-integrated income verification solutions company that, in partnership with Cotality, seeks to revolutionize the income verification process in the lending and mortgage industry. Cotality has integrated Halcyon’s advanced income verification technology, using IRS Form 8821, into its AutomatIQ® Borrower platform.
What is the IRS rejection rate?
Of all 4506-C orders, 14.10% are rejected by the IRS based on our three years of data.
Can the transcript authorization forms be e-signed?
Yes, both wet-sign and eSign signatures are accepted.
How will the transcript authorization form fit into our workflow?
Lenders can choose to include the transcript authorization forms in their initial disclosure package to simplify the process when it is time to order transcripts.
