@Anonymous wrote:Not to stay siderailed, but what about people that do not file taxes? Until last year, I had not filed taxes in 10 years (yes, employed all those years, just did not file due to ignorance and fear).
@Anonymous In that case, one can file their taxes for the previous 6 years in order to be complaint with federal law and 4506-T forms would generate tax transcripts for those tax filing years. If one's income is so low that it is below the requirement for federal filing, then filing can still be done even if no tax liability were due for those years. If income was higher than the minimum amount required for federal filing, now would be a good time for a reminder that the myFICO Terms of Service prohibit discussion of illegal activities.
@dogmeat wrote:My interpretation of being 4506-T'd on an application is that you are approved pending IV. However, the details of how flexible they are with IV do matter. I have read many cases of denial where the numbers on the transcript do not match the numbers on the application, so I would prepare for that, and be very pleasantly surprised if you are approved. Regardless of this app outcome, for future apps I suggest always using an income that can be verified on a prior-year tax transcript.
I'm grateful for whatever the outcome. An approval is preferred of course, however a denial is also a point of knowledge and reference to be approved on the next go around! I am hopeful for an approval though 
@Anonymous wrote:Not worth it for a credit card and most would not know that whole process nor probably put the effort.
By the time somebody even outs in all that effort, they would be denied and the HP already wasted.
Plus paper returns (all back taxes) are not being processed, so kinda moot right now, and still leaves many people disadvantaged when there is zero recourse.
While one may consider whether it is worth it for a credit card to be subjective, some more objective reasons would be to receive refunds due for prior years, or to avoid future penalties, liens, seizures, revocation of passport, or fines/imprisonment. While the IRS is not issuing direct deposit refunds or accepting electronic filing (although this can still be done by some tax preparers) for years prior to 2020 (and neither are being done for 2020 prior to Friday), returns are being processed in the order in which they are received - including prior years.