business
Time extended for tax disclosure authorization
NEWS IN BRIEF — Posted Jan. 18, 2010
The forms that allow the Internal Revenue Service to release tax returns to lenders will now be valid for 120 days after they are signed, according to a statement issued Dec. 31, 2009, by the agency. These forms were previously valid for only 60 days. This was changed because some financial institutions and government agencies that provide loans had difficulty getting them signed and submitted within this time.
The interim rule is retroactive to Oct. 19, 2009, and is open for comment until Jan. 25. It applies to forms 4506, 4506-T, 4506T-EZ and 8821.
Note: This item originally appeared at http://www.ama-assn.org/amednews/2010/01/18/bibf0118.htm.












