INDUSTRY NEWS UPDATES
RE: COVID-19 CRISIS
How it affects our clients.
IRS IVES Slowly Re-opens 4506-T Processing
INDUSTRY UPDATE | April 27, 2020
This morning, we received status notification from the IRS that all four IVES processing centers are slowly reopening starting Monday, April 27.
We wanted to provide you with an update regarding the current state of our operations. Starting April 27, 2020, we plan to have limited staffing in our service centers to begin processing previously submitted requests. We will not be accepting any new work until we significantly reduce existing inventory. A subsequent update will be provided when new work will be accepted. Due to limited staffing, processing time will be delayed.
Thanks for your patience and please stay safe.
~ IRS IVES Team
While honoring safe distancing rules, their workplace operations will be at 50% capacity or less which include centers in Austin (TX), Fresno (CA), Kansas City (MO) and Ogden (UT). There will be a dayshift operating at each site with 25 employees in each of the IVES sites. They will also have a night shift with 25 employees working at each site.
Read more from Federal News Network on bringing 10K IRS employees back to work.
On March 27, when the centers were mandated to close operations, the IRS had about 350,000 backlogged 4506-T order requests in inventory.
The IRS will begin working on that backlogged inventory today and as they begin to work through that, they will make a decision maybe later this week to open back up the FAX lines to begin receiving new fax orders for 4506-T from the IVES Participants.
We will keep this post updated with any new notifications from the IRS.
IRS Office Closures
INDUSTRY NEWS | March 31, 2020
Update 4/8: As you already heard, nearly all IRS employees were notified of mandatory evacuation last Friday, March 27. The following Monday, any workers who are authorized and can work remotely were instructed to do so.
"The IRS is reviewing remote working options for the IVES program, factoring all available resources and logistical elements", says an IRS source on Monday. IVES 4506-T processing is not considered "mission-critical function" by the government as of yet. We continue to work closely with the IRS, MBA, CDIA, and other industry advocates to push for the completion of tax transcripts as mission-critical duties.
In the meantime, the pandemic effects has resulted in a backlog of IRS tax transcript requests (4506T processing) industry-wide.
"We continue to investigate alternative work flows, but at this time the safety of our employees remains our top priority." ~IRS, 4/8/2020
All four IRS IVES processing centers are closed as follows:
Austin, TX: Closed until further notice.
Fresno, CA: Closed until further notice.
Kansas City, MO: Closed through Friday, April 24.
Ogden, UT: Closed until further notice.
SSA electronic signing for SSN identity
verifications is now an urgent matter.
ADVOCACY | March 30, 2020
Electronic signatures. In an effort to to make the mortgage loan process completely digital in verifying the identity of credit applicants, the Social Security Administration (SSA) selected user participants back in September 2019 to rollout a new electronic Consent Based Social Security Number (SSN) Verification (eCBSV) service. Unfortunately, the availability of the new electronic signature service is not scheduled until June 2020.
Advocacy efforts. In today's new working environment where digital processing is more urgent than ever, our team is pushing advocacy efforts to help expedite the final development of e-signatures. We hope to keep you posted soon with updates.
Efforts To Hurry IRS IVES 4506-T Processing
ADVOCACY | March 27, 2020
The IRS has had to temporarily close all the IVES processing centers due to the coronavirus crisis. The following is a notification from the IRS to IVES participants on March 27:
"Due to staff limitations resulting from facility closures, the IRS has temporarily suspending acceptance of new Income Verification Express Services (IVES) requests at this time and are experiencing delays with existing IVES processing."
Our leadership team is communicating frequently with the Treasury, IRS, MBA & CDIA, and other applicable trade associations. "We will continue to be a squeaky wheel in hope of getting the IRS IVES to 4506-Ts processed for lenders as soon as possible", says Curtis Knuth, CEO of SERVICE 1st. Please check back as we continue to keep you posted with developing updates here.
Bill to stop negative credit reporting during coronavirus pandemic.
INDUSTRY NEWS | March 18, 2020
Disaster Protection For Workers' Credit Act. For the next four months while the nation gains control of the coronavirus pandemic, this bill puts in moratorium all negative credit reporting of anyone financially affected from the COVID-19 impact. Read more >>