Veri-Tax Launches E-Signature Solution for Income Verification

""Veri-Tax, LLC"":http://www.veri-tax.com/Default.aspx, and its subsidiary, Verification Bureau, LLC, announced the launch of a Form 4506-T electronic signature solution as the Internal Revenue Service (IRS) gears up to accept electronic signatures on income verification requests.

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An electronically signed Form 4506-T releases a taxpayer's previous years' income tax transcripts from the IRS to an authorized third party. The process is considered the most secure method of verifying a borrower's income during the loan origination process.

In order to come up with their own e-signature solution, Veri-Tax and Verification Bureau collaborate with Adobe, the leading electronic signature provider, to integrate ""Adobe's"":http://www.adobe.com/ EchoSign platform into Form 4506-T documents. After a lender creates a tax transcript request, Veri-Tax facilitates the e-signature process directly with the borrower, allowing them to verify their information before submitting the form to the IRS.

The solution minimizes IRS rejection rates and saves time, leading to increased customer satisfaction. It also reduces signature forgery, lost paperwork, and distorted data, problems that plague the paper-based method. Additionally, Veri-Tax and Verification Bureau will accept electronic signatures on the Form 4506-T from other e-sign vendors that adhere to the IRS' strict e-sign compliance guidelines.

""We anticipated releasing our 4506-T electronic signature option even before the IRS announced the e-sign pilot last year,"" said Veri-Tax president Michael Chon. ""Today, a process that takes lenders a few days to complete can now be completed within hours, helping to further streamline the verification process and close loans faster than ever before. The reduced time, effort, and cost savings will truly benefit all parties involved.""

Based in Irvine, California, Veri-Tax provides a full array of tax verification services.