topic Re: Amex FR and 4506-C Request After 4506-T in Credit Cards

Amex FR and 4506-C Request After 4506-T

Anonymous — Wed, 21 Apr 2021 14:45:11 GMT

Hey everyone I got approved for 10k on a BCE and have used it and paid after the transaction posts and its been less than 30 days and my account is on financial review again but this time they ask for a 4506-C??? Any ideas?

Re: Amex approved after 4506-T

K-in-Boston — Wed, 21 Apr 2021 14:44:34 GMT

It sounds like perhaps there was an issue with the original 4506-T request. Supposedly the IRS is recently now only accepting the new 4506-C form so perhaps they need further data. What were the tax years you supplied with the 4506-T? 2018 and 2019?

Note: I am going to tweak your thread title as this isn't really about your approval.

Re: Amex approved after 4506-T

Brian_Earl_Spilner — Wed, 21 Apr 2021 14:46:26 GMT

More than likely the 4506-T had an issue as the IRS is only accepting 4506-C from here on out for their Income Verification Express Service (IVES).

Re: Amex approved after 4506-T

Anonymous — Wed, 21 Apr 2021 15:00:05 GMT

They didn't really asked for an specific year I put 2020 and they got and processed the 4506-t form and was approved (without providing that they were denying the application) I have used about $800 out of the $10k in several transactions but paid it down quick I don't know if that spooked them I have less than 1% of utilization reflected across my accounts

Re: Amex approved after 4506-T

K-in-Boston — Wed, 21 Apr 2021 15:20:49 GMT

It sounds like they may have mistakenly unlocked it on their end and then locked it again. Amex always asks for the two most recently available returns. 2020 returns should not be available yet. Historically, returns for the previous year have not been available until August (i.e. your 2017 return was not available for tax transcripts until August 2018), but with the tax deadline being extended in 2020 for 2019 returns, and again in 2021 for 2020 returns, this availability was likely pushed back.

Re: Amex approved after 4506-T

Anonymous — Wed, 21 Apr 2021 19:36:13 GMT

Could you elaborate on why, such as differences? Is it merely the "private" version with less exposed personal info?

I recently requested my last two years trancripts to provide the Lender for a Mortgage app since I don't have a return, Am I correct to assume those will not be accepted now?

Re: Amex approved after 4506-T

K-in-Boston — Wed, 21 Apr 2021 19:56:46 GMT

@Anonymous wrote:
Could you elaborate on why, such as differences? Is it merely the "private" version with less exposed personal info?

I recently requested my last two years trancripts to provide the Lender for a Mortgage app since I don't have a return, Am I correct to assume those will not be accepted now?

Same info, fewer parties able to receive it.

Internal Revenue Service wrote:

“Form 4506-C was created to be utilized by authorized Income Verification Express Service (IVES) Participants to order Tax Transcript records electronically for a third party. In effort to protect taxpayer information, a policy change was implemented for the Form 4506 series which no longer permits the mailing of tax returns to third parties that have not been vetted through the agency. The IVES program is a fee for service program with external customers guaranteed a 72-hour response. This collection impacts taxpayers by allowing the third parties to request a transcript of a return that will assist with securement of mortgages, loans, student aid, and other benefits.”

Re: Amex FR and 4506-C Request After 4506-T

HappyGoLucky4U — Wed, 21 Apr 2021 20:24:01 GMT

Is the BCE your first AMEX card?

Re: Amex approved after 4506-T

BetterMoves — Wed, 21 Apr 2021 23:26:54 GMT

@K-in-Boston wrote:
Amex always asks for the two most recently available returns.

They only asked one year when I applied last December. I was expecting two, but a phone rep confirmed just '19 was fine.

Re: Amex FR and 4506-C Request After 4506-T

SA0012 — Thu, 22 Apr 2021 08:28:29 GMT

Amex asked me to submit the same form 4506-C for my 3x CLI.

Requested: 3x CLI on my initial limit of 12900 on 12 of this month and I submitted it, no update as of now.