IRS 4506-T Fees To Drop

Posted by Orb Staff on September 18, 2009 No Comments
Categories : Mortgage Servicing

As a result of an Internal Revenue Service (IRS) costing analysis on 4506-T processing procedures, the IRS will reduce 4506-T fees by 50% beginning Oct. 1, risk analysis provider NCS Inc. reports.

‘The IRS affirmed their commitment of fall 2006 to revisit the $4.50 fee,’ says the IRS' former business modernization official and NCS senior manager, Cecil Bowman.

According to Bowman, ‘Stabilization of the IRS' electronic processing environment and the huge increase in 4506-T requests required new IRS costing methodology. The re-costing showed a decline in operating costs and required a reduction in fees."

The Federal Office of Management and Budget requires that the IRS' fees reflect "the full cost of goods and services," though fees cannot generate a surplus.

SOURCE: NCS Inc.

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