IRS Reopens Backlogged Income Verification Service

The IRS has reopened its Income Verification Express Service (IVES) program during the partial federal government shutdown. IVES is a user fee-based program that enables mortgage lenders and others within the financial services community to confirm a loan applicant’s income. “It will take time to bring this service up to normal operating status,” the IRS said in a statement. “The IRS advises IVES participants that it may initially take longer than the standard 72-hour turnaround time for the IRS to process these requests.”