""Equifax"":http://www.equifax.com/home/en_us approved of ""DocMagic's"":https://www.docmagic.com/ eSign for electronic 4506-T requests. This means Equifax clients can use DocMagic's eSign for electronic signatures when submitting orders.[IMAGE]
The IRS first began accepting electronic signatures January 7 for 4506-T forms, which are used by the mortgage industry to verify income during the application process.
""The IRS has very strict requirements for accepting these orders electronically,"" said Melanie Feliciano, chief legal officer for California-based DocMagic. ""Our eSign product[COLUMN_BREAK]
meets these requirements and the team at Equifax has reviewed our product and confirmed that. Now, all DocMagic's customers can place their orders for IRS 4506-T with Equifax and use DocMagic's eSign technology to sign them electronically.""
Submissions must be through an Income Verification Express Services (IVES) participant such as Equifax. According to a company release, in order for an electronic signature to be accepted, the submitter must also prove that the signer had sole control over the signature; the signer must consent to electronically signing, and the electronic signature must be unique to the individual and establish the signer's intent to be bound by the terms of the 4506-T, among other requirements.
""Equifax customers are embracing electronic information requests, which has served to streamline their operations, saving them time and money,"" said Jeff Knott, senior director of poduct management at Equifax Verification Services. ""As an early advocate for this technology, we're proud to offer our customers this opportunity to accelerate business and improve customer service. Our customers that depend upon DocMagic for documents and compliance will now find it easy to get the tax verification information they require.""