4506-C Update – Clean Form Requirements from the IRS when working in Encompass®
As you may have seen from your 4506-C provider, the IRS has released the new 4506-C form. Effective March 1, 2023, the newly published Form 4506-C will be the only form IVES participants can use. Both versions of Form 4506-C will be accepted until February 28, 2023.
Download the form from this link -
How Does This Impact You?
The new 4506-C form will have new fields and sections to optimize IRS processing, including some new required fields.
In preparation for the IRS Clean Form Requirements, please follow the guidelines below:
Keep the original integrity of the form: No changes to the page layout, line spacing, margin or fonts.
Be clear of any editing marks: Strikethroughs, circles and arrows are not allowed even if initialed by the taxpayer.
ONLY identify the taxpayer(s), form number and tax year(s).
List the data in its assigned field: The form has been updated with new fields and sections to optimize the form for processing. The information must be entered in the appropriate field for IRS acceptance. Common mistakes would include putting the Zip code in the Street address field or the Client address in the Client name field.
Please ensure you take the time to prepare for this change and update internal processes to support the new IRS form.
ICE Mortgage Technology™ initially posted this communication. Please visit the Release HUB on the Encompass Resource Center if you need more information. It’s your one-stop shop for release resources- from release dates to release notes and special events.
