ModernTax
ModernTax provides automated IRS tax transcript retrieval APIs and borrower verification software for commercial and SBA lenders.
Founded
2021ModernTax provides automated IRS tax transcript retrieval APIs and borrower verification software for commercial and SBA lenders.
The ModernTax platform delivers an automated tax transcript and verification pipeline featuring a loan processor portal and developer APIs. The solution automatically pre-populates Form 8821 authorizations, verifies business tax filing election statuses, and retrieves official IRS returns including Forms 1040, 1065, 1120, and 1120S in under 24 hours.
Key features include automated tax return parsing into structured JSON and standard PDF formats, IRS wage and income verification for W-2 and 1099 filings, and tax balance payment verification. The system integrates directly into existing loan origination systems and credit underwriting pipelines with automated webhook notifications.
ModernTax delivers standard 24-hour turnaround for IRS transcripts compared to legacy vendor processing times that typically stretch across two to four weeks. The platform eliminates manual form generation errors by automatically validating taxpayer filing requirements and generating pre-filled Form 8821 documents.
Additional advantages include digital signature workflows with a 96 percent IRS acceptance rate, upfront business verification preventing billable rejections, and dedicated Practitioner Priority Service lines operated under individual practitioner Centralized Authorization Files. The dual portal and REST API architecture supports both manual credit operations and automated programmatic underwriting.
ModernTax operates a usage-based pricing structure starting from $39.99 per business entity verification with transparent transactional terms. The platform offers new lending teams an initial onboarding trial consisting of three complimentary entity transcript requests without requiring upfront credit card commitments.
The pricing model protects lender margins by never charging fees for form rejections or unauthorized re-pulls behind the customer's back. For high-volume loan originators, wholesale credit resellers, and loan origination software platforms, ModernTax provides tiered volume rates and customized API enterprise agreements.