IRS REOPENS INCOME VERIFICATION SERVICE DESPITE SHUTDOWN

NSTPIncome Verification Service (IVES), Internal Revenue Service (IRS)

Despite the partial government shutdown, the Internal Revenue Service has reopened the Income Verification Express Service used by mortgage lenders to verify borrowers’ income, relying on user fees to help pay the salaries of IRS employees working in the unit. The inability to process the tax transcript forms was holding up mortgage applications around the country. As a result, 400 furloughed IRS employees were called back to work on Monday in Cincinnati, Ohio; Ogden, Utah; Kansas City, Missouri; and Fresno, California. The IRS announced last Monday that it was calling back a number of employees to help with tax season, the new tax law, and to make sure tax refunds are processed in time. In a statement last week, the IRS explained its decision to reopen the IVES service. “While the IRS remains closed during the partial government shutdown, the agency recognizes the immediate hardship incurred if information is not available through the Income Verification Express Service (IVES) program as well as by taxpayers who have been unable to certify their residency in the United States for certain tax treaty benefits or by those who have been unable to obtain photocopies of tax returns,” said the IRS statement. “Following an extensive … Read More