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Form 4506-C and tax transcripts for lending
A lender’s transcript request is a request to verify tax records. Review the authorization, requested transcript and filing history before assuming a bookkeeping report will satisfy the same purpose.
This guide describes common bookkeeping practice, not a legal or regulatory requirement.
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General information, not legal or tax advice.
Understand the taxpayer’s authorization
IRS IVES lets a taxpayer authorize a bank or lender to access tax records. The IRS supplies those third-party records only with taxpayer consent, through the account authorization process or Form 4506-C. Confirm the intended recipient and requested periods before signing.
Select the transcript that answers the request
The form distinguishes a return transcript, which generally reflects the return as filed, from an account transcript showing payments and later adjustments. A record of account combines both. Ask the loan officer which record is needed rather than substituting one based on a similar name.
Sources: IRS Form 4506-C instructions
Check signature timing and processing requirements
Form 4506-C must reach the IRS within 120 days of signature. The supplied instructions also require the signature-authority box and describe submission through the IVES participant. Let the lender manage its submission channel while you retain the approved authorization and a record of what was requested.
Sources: IRS Form 4506-C instructions
Reconcile the lender packet with the filed return
SBA lending guidance requires verification of applicant returns against IRS transcripts. As bookkeeping preparation, compare the financial statements with the version of the return actually filed and identify later adjustments. A transcript is not a photocopy of the original return, so preserve both where requested.
Sources: IRS - Transcript types; SBA SOP 50 10 8.1 (effective October 1, 2026)
Sources: understand the taxpayer’s authorization
Prepare a consistent lender packet
Tidwell helps reconcile the books and organize supporting schedules for your business decisions. We work with your CPA on tax questions and the financial records they need.