Let’s get into detail about what the IRS 4506-T EIDL Form is all about.
All COVID EIDL applicants must provide a signed and dated Form 4506-T allowing the IRS to disclose business tax transcripts to the SBA in order for the SBA to verify their revenue.
What is IRS Form 4506-T?
Form 4506-T, commonly known as a Request for Transcript of Tax Return, is issued by the Internal Revenue Service.
This document is used to request a tax return transcript, tax return, or other tax records.
Certain information is required for this form to be processed. It requires personal information from the individual obtaining a copy of their tax return in order to authenticate their identification.
It also requires information on the type of tax transcript requested as well as the tax year from which the information is derived.
This tax form may be completed online, printed, and mailed to the Internal Revenue Service (IRS). Before sending, double-check that you have completed all essential areas and signed the form. Otherwise, your request might not be processed.
EIDL 4506-T Error
If you are repeatedly asked to submit Form 4506-T, there may have been a mistake in your prior submission.
4 Common mistakes:
- Incorrect form (the term “Disaster” appears at the top of SBA Form 4506-T for COVID EIDL.)
- Invalid EIN or SSN (the number either contains errors or does not match the business or taxpayer name on file with the IRS)
- Incorrect mailing address (the address on the form MUST be the exact same address as listed on the 2019 Tax Return).
- Incorrect tax year was supplied (make sure you only request the 2019 Tax Return and no other years)