Verification of Income and Employment
Verify employment and sources
of income with speed and certainty
Determining customers’ ability to pay is paramount in today’s
economy. The only way to confidently verify applicant-stated
income—to help mitigate risk during the decisioning process—
is with real data via employer payroll and tax returns. As the
leader in employment and income verifications, Equifax has
several income verification options so that you can choose
a solution that fits your organization’s unique needs—whether
you want instant results or a complete picture of household
or business income.
IRS Income Verification (4506-T)
Our IRS Income Verification service enables you to retrieve
all tax transcript forms via streamlined fulfillment through
our direct connection with the IRS. The tax transcript
provides a complete picture of all household income,
including investment income as well as salary and wages.
You have access to process tracking, a summary report of
key taxpayer data elements and income variance reporting.
As an added feature, we can capture and upload electronically
signed versions of Forms 4506-T and 4506T-EZ, reducing
the time spent collecting a signature from days to minutes
by eliminating mailing or faxing.
Instant Verification of Income
Equifax leverages The Work Number ®, the nation’s
largest database of instantly available employment
and income information and fulfilled 47 million verifications
in 2014 alone for verifier organizations. These records are
contributed by more than 4,300 U.S. employers—including
more than 70 percent of the Fortune 500 and the majority
of federal government civilian employers. The information
is updated at every payroll cycle, so you always have
access to the most current information possible the
employer has provided.
What about consumers not on the database?
If an applicant’s information is not instantly available
through The Work Number, a manual verification can
be generated, which can generally be obtained in as
little as one to three business days. Verification specialists
independently validate the employer’s information and
follow-up directly to obtain the verification on your behalf.
Complete any proof of employment and
income—using reliable sources
Equifax Verification Services provides efficiency in a single
data source that is not available elsewhere. Current payperiod employment and income is available instantly with
our employer direct data, or in short order by streamlined
fulfillment with the employer, while personal and business
income tax information is delivered in just hours through
our direct connection with the IRS. Using any route, you
can customize a solution to fulfill your income determination
needs rapidly, and with ease.
CONTACT US TODAY
For more information:
info@theworknumber.com
www.theworknumber.com
Equifax and EFX are registered trademarks of Equifax Inc. The Work Number is a registered trademarks
of TALX Corporation, a wholly owned subsidiary of Equifax Inc. Copyright ©2015, Equifax Inc., Atlanta,
Georgia. All rights reserved. EFX-WS-0053-02/23/2015