by Charles Almond, Founder & CEO
If your business relies on verifying client income and tax records, there’s a good chance your business or government program is facing significant disruption in the wake of the IRS’s January announcements limiting use of the Income Verification Express Service (IVES).
Unless you’re a mortgage lender, you will likely need to find a new way to verify client income and IRS tax records.
For government agencies – federal, state, and local – your deadline is February 1, 2024.
For financial services and the rest of the private sector – SBA lending, commercial lending, lines of credit, credit cards, insurance, financial assistance programs, student lending, and just about anyone else who needs to verify income or official IRS tax records – you get a few extra months. You have until June.
If you use TaxStatus, you have nothing to worry about. TaxStatus is not impacted by the IVES changes. Your business or government program will continue without disruption.
If you rely on IVES, we are here to support you through this impact to your business.
Recognizing the critical need for viable and accurate income verification alternatives, TaxStatus never relied on IVES.
Reach out to learn about TaxStatus today
Recognizing the critical need for viable and accurate income verification alternatives, TaxStatus never relied on IVES. TaxStatus remains unwavering through this point of change and can seamlessly deliver the digital official IRS tax records businesses need to part ways with IVES without the threat of disruption.
Revisions to the IVES program are not isolated.
In 2019, the Taxpayer First Act was signed into law, which marked a pivotal moment by mandating the IRS to modernize its systems and adopt a more “taxpayer-friendly” approach. Since then, the IRS has been implementing changes to provide more automated solutions for tax professionals and streamlined experiences for American taxpayers. Today, I share our perspective on navigating these changes, which, although appear sudden, have been in the works for over a decade.
Why TaxStatus Stands Strong Amidst Changes
In the face of these industry-shaking changes, TaxStatus has remained unmoved. The secret to our stability lies in the wealth of experience held by our professional staff, many of whom previously served within the IRS for decades. This tenure within the IRS has endowed our team with an intimate understanding of the IRS’s preferred processes and procedures, enabling us to efficiently serve taxpayers and provide the support needed through evolving technological, policy, and congressional mandates.
One of the primary concerns during periods of IRS transformation is the potential impact on taxpayers’ access to their financial records. However, I want to reassure those we serve that, our method for representing taxpayers and streamlining access to their records has remained consistent for the past forty years. Unless taxpayer rights are abolished, there is little threat that TaxStatus or the taxpayers we serve will lose access to their records. As other entities adapt to a new normal, our commitment to transparency and accessibility positions TaxStatus as a consistent and dependable partner for taxpayers—and the finance professionals who serve them—seeking a clear view of their IRS account standing.
Looking Forward
As the IRS continues to implement changes in pursuit of a more taxpayer-friendly approach, TaxStatus will continue to navigate the evolving landscape with confidence. Our commitment to serving taxpayers who value transparency, ownership, and the seamless sharing of financial data remains at the forefront of our mission.
I invite you to reach out to our team to learn more about the benefits of working with TaxStatus.