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There are various resources that PHAs can use to verify income.
Resources may vary from state to state, and can include:
EIV System: A HUD-provided Internet-based
wage and benefit tool that allows PHAs to validate the accuracy
of tenant-reported income from an independent source that systematically
and uniformly maintains income information in computerized form
for a large number of individuals.
The
Work Number: An automated service that provides controlled access
to a national database of almost 40 million employment and income
records, The Work Number can provide quick and accurate employment
and wage information.
Advanced
HR Solutions: An automated employment and wage verification
program for companies and their employees. Verification requests
of employment or wage information from banks, credit card companies,
and government agencies can be handled quickly and confidentially
through this automated system.
Experian:
Electronically links and gathers data from various sources to deliver
consistent, accurate, real-time view of customer data. Experian
maintains and manages customer information, from names and addresses
to vehicle numbers and credit information. Its extensive data resources
provide better insight into how a customer behaves.
Social
Security Administration (SSA) Form 7004: This SSA form
may be used by a PHA to request a tenant’s Social Security Earnings
Statement. The statement provides a record of the tenant’s Social
Security earnings history, year-by-year and provides an estimate
of benefit payments that the tenant and the tenant’s family may
qualify for now or in the future.
See http://www.ssa.gov/mystatement
for more information.
Internal
Revenue Service (IRS) Form 4506-T: This IRS form may
be used by a PHA to request a tenant’s tax return transcript. The
transcript shows most line items contained on the return as it was
originally filed, including any accompanying forms and schedules.
Tax return transcripts are generally available for the current and
past three years. If a statement of the tenant's tax account, which
shows changes that the tenant or IRS made after the original return
was filed, you must request a “Tax Account Transcript.” This transcript
shows basic data including marital status, type of return filed,
adjusted gross income, taxable income, payments and adjustments
made on the tenant’s account. There is no charge for the transcripts
and should be received within 10 business days from the time the
IRS receives the request. See http://www.irs.gov/faqs/faq1-6.html
for more information.
Internal
Revenue Service (IRS) Form 4506: This IRS form may be
used by a PHA to request a tenant’s exact copy of a previously filed
and processed return and all attachments (including Forms W-2).
Copies are generally available for returns filed in the current
and past 6 years. There is a $39 fee for each tax year requested.
See http://www.irs.gov/faqs/faq1-6.html
for more information.
Note: This list is not all-inclusive. There are
many vendors that offer income and employment verification services.
PHAs should confirm with the vendor, the source from which income
and employment information is delivered.
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