Citi Request for IRS Form 4506-T: Advice Sought
Feb 9, 2016, 6:48 pm
#46
Suspended
Join Date: Sep 2014
Posts: 3,072
It's common for Citi to request additional info. as part of someone's first Citi application.
In your case, if your tax returns don't match the income you put on the app, you're probably asking for trouble by continuing with the process. Might want to lay low for a few months and try again.
In your case, if your tax returns don't match the income you put on the app, you're probably asking for trouble by continuing with the process. Might want to lay low for a few months and try again.
Feb 9, 2016, 7:09 pm
#47
FlyerTalk Evangelist
Join Date: Jan 2005
Location: home = LAX
Posts: 25,934
Did you list your income differently on some other credit applications in the last year or two? In at least some cases the income you list on credit applications can get put on your credit report, and Citi perhaps might have noticed that the income you listed on this application did not come close to what your credit report showed you as having listed before, and that could be what led them to the 4506-T request. (Note: I'm not referring to the Amex apps you did the same day; the info from those, other than the pulls perhaps, would not have made it to your credit report yet at the time Citi processed your application.)
Meanwhile, you don't get to choose what to provide for your 4506-T. The 4506-T simply authorizes Citi to request what they (presumably) pre-printed on the form as what they will request directly from the IRS. (The IRS will send them [a slightly redacted copy of] your tax return; Citi won't accept the tax return from you. If the form doesn't have a tax return year pre-printed on it, they'll get whatever year the IRS gives them. It's either Citi's choice or the IRS's choice, not your choice, as to which year they get.
Meanwhile, are you sure you're going to be able to meet the minimum spend on 3 cards all at about the same time anyway? You already have 2 cards from Amex that you have to do the spend on simultaneously, now you want to add a third from Citi???
Finally, do you know for a fact you're receiving a 4506-T in the mail, or do you just know you're receiving something in the mail? I don't know that 4506-T is the only thing that Citi sends in the mail (well, they also send denial letters, for one thing!). They could be asking for something else for all you know (perhaps copies of utility statements to prove your address, for example, in case again the address you furnished does not match the address showing on your credit report because you moved in the past year or so).
(And you didn't explain what type of card you applied for, so in case it was a business card, there may be still other stuff they could be requesting.)
Meanwhile, you don't get to choose what to provide for your 4506-T. The 4506-T simply authorizes Citi to request what they (presumably) pre-printed on the form as what they will request directly from the IRS. (The IRS will send them [a slightly redacted copy of] your tax return; Citi won't accept the tax return from you. If the form doesn't have a tax return year pre-printed on it, they'll get whatever year the IRS gives them. It's either Citi's choice or the IRS's choice, not your choice, as to which year they get.
Meanwhile, are you sure you're going to be able to meet the minimum spend on 3 cards all at about the same time anyway? You already have 2 cards from Amex that you have to do the spend on simultaneously, now you want to add a third from Citi???
Finally, do you know for a fact you're receiving a 4506-T in the mail, or do you just know you're receiving something in the mail? I don't know that 4506-T is the only thing that Citi sends in the mail (well, they also send denial letters, for one thing!). They could be asking for something else for all you know (perhaps copies of utility statements to prove your address, for example, in case again the address you furnished does not match the address showing on your credit report because you moved in the past year or so).
(And you didn't explain what type of card you applied for, so in case it was a business card, there may be still other stuff they could be requesting.)
Last edited by sdsearch; Feb 9, 2016 at 7:17 pm
Feb 10, 2016, 2:36 pm
#48
Join Date: Jan 2015
Location: New York City
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Posts: 18
Finally, do you know for a fact you're receiving a 4506-T in the mail, or do you just know you're receiving something in the mail? I don't know that 4506-T is the only thing that Citi sends in the mail (well, they also send denial letters, for one thing!). They could be asking for something else for all you know (perhaps copies of utility statements to prove your address, for example, in case again the address you furnished does not match the address showing on your credit report because you moved in the past year or so).
Did you list your income differently on some other credit applications in the last year or two? In at least some cases the income you list on credit applications can get put on your credit report, and Citi perhaps might have noticed that the income you listed on this application did not come close to what your credit report showed you as having listed before, and that could be what led them to the 4506-T request.
On a side note (and hopefully not a relevant one), I had ~64k in combined CL’s across issuers at the time of applying. Is there any chance their systems pick up on that, and determine I do not need anymore credit? Can’t imagine Citi having better screening than Amex…
Meanwhile, you don't get to choose what to provide for your 4506-T. The 4506-T simply authorizes Citi to request what they (presumably) pre-printed on the form as what they will request directly from the IRS. (The IRS will send them [a slightly redacted copy of] your tax return; Citi won't accept the tax return from you. If the form doesn't have a tax return year pre-printed on it, they'll get whatever year the IRS gives them. It's either Citi's choice or the IRS's choice, not your choice, as to which year they get.
Thank you again for your thorough response. I guess I need to sit and wait, or perhaps call the reconsideration line (only did it once and they told me I needed to provide something by mail).
Mar 29, 2017, 9:33 am
#51
Join Date: Jan 2014
Posts: 1,269
Citi may have implemented a faster, easier income verification process
After churning Citi cards successfully for years, we stopped getting auto-approved for my wife's applications. Consistently, Citi would say further processing was required, and they would mail an IRS form 4506 to request permission to obtain a transcript of our return from the IRS. We had no problems sending the form in, but it added literally four weeks to the application process. It took up to two weeks for Citi to mail us the form, then we had to mail it back, then Citi had to request the transcript from the IRS, then our complete file would be reviewed and approved. It took too long, but we always got approved.
For our latest application, Citi sent an e-mail asking us to mail in W-2s. If that is the new procedure they'll use for verifying income, it's great because it will be much faster and much less cumbersome for both Citi and for applicants.
For our latest application, Citi sent an e-mail asking us to mail in W-2s. If that is the new procedure they'll use for verifying income, it's great because it will be much faster and much less cumbersome for both Citi and for applicants.