Recent transport experiments reported a quantum spin Hall insulator phase in monolayer 1T-TaIrTe₄ gated away from charge neutrality. This phase is not predicted by band structure calculations and has been attributed to an electronic instability induced by strong correlations at a putative van Hove singularity. Here, we investigate the electronic structure of exfoliated monolayer 1T-TaIrTe₄ using micro-focus laser angle resolved photoemission. We find a strongly anisotropic band structure susceptible to density wave instabilities. Our data further reveal a saddle point singularity in the density of states. However, we find that the saddle point lies at a density for which transport experiments found no anomalies. Moreover, the quasiparticle line widths suggest weak electron correlations only. This points to a secondary role of van Hove singularities and electron correlations in the transport phase diagram of monolayer 1T-TaIrTe₄.