Recent Posts

Archive

Tags

IRS' IVES Working Group meeting to discuss Taxpayer First Act, Section 2201.

Updated September 26, 2019


SECTION 2201 -- The IRS' IVES Working Group is scheduled to meet early October via an IRS hosted conference call. Topics include discussion of the IRS’ cost analysis for required system development contained in the Taxpayer First Act, Section 2201. This section addresses the "Modernization Disclosure of IRS Taxpayer Information for third-party income verification."

The cost analysis will define the NEW ADDITIONAL USER FEE to pay for the IRS Application Program Interface (API) system upgrade modernizing transcript processing. Turn-times will reduce from days to within a second.

NCS’ SVP Cecil Bowman, is one of 8 IVES Working Group advisors involved in the implementation discussions. Bowman estimates tax transcript volume via the API will dramatically increase with the removal of antiquated fax delivery mechanisms.


Section 2201 mandates the tax transcript API must be delivered by 2023. Following the 2023 date, the expectation is that the IRS user fee of $2.00 per transcript year will dramatically decrease due to efficiencies of the new system.

OFFICE HOURS

Redding, CA 96002  |  8:00am - 5:30 pm PT

Egg Harbor City, NJ 08215  |  8:30am - 9:00pm ET

  • LinkedIn
  • Twitter
  • Facebook

CONTACT

 ph • (877) 814-1178

 fax • (877) 813-7178

---

info@SRV1st.com

support@SRV1st.com

 © 2019-20 Service First Information Solutions, LLC | A National Credit-reporting System Affiliate  •  Privacy Policy 

We keep lenders compliance with up-to-date security certifications so you can focus on closing more loan with confidence. Using our system security reassures your borrower data is protected at 100% compliance standards.

AICPA-SOC_edited.png
soc2-armour.png
pci-dss.png