Classify, extract and analyze data from 1040 forms in minutes with end-to-end intelligent document processing
Ocrolus supports document classification and data extraction of IRS Form 1040s for faster, more accurate lending decisions. Our Human-in-the-Loop automation solution processes and analyzes a variety of 1040 forms with over 99% accuracy.
Why should lenders use Ocrolus for IRS Form 1040 data capture and form processing?
Loan underwriters process IRS Form 1040s to verify borrower income. Without a reliable intelligent document processing solution, lending professionals spend hours manually processing 1040s to verify a borrower’s income, often resulting in human error and inaccuracies.
Ocrolus’ automated IRS Form 1040 processing solution provides a better borrower experience by speeding up the entire underwriting process and empowering underwriters to make smarter decisions with trusted, accurate data.
Advantages of Ocrolus’ automated IRS Form 1040 processing
Retrieve data from tax forms regardless of format or image quality
- Verify borrower income in minutes
- Develop robust, data driven income assessments
- Increase originations with an expedited underwriting process
IRS Form 1040 types we capture, process & analyze
1040 Schedule 1
1040 Schedule 2
1040 Schedule 3
1040 Schedule 4
1040 Schedule 5
1040 Schedule 6
1040 Schedule 8812
1040 Schedule A
1040 Schedule D
1040 Schedule EIC
1040 Schedule F
Ocrolus’ 2021 document processing stats
financial pages analyzed
documents flagged for suspicious activity
business loan applications analyzed