by Renu Vardhan | Aug 3, 2010 | Efile, Homebuyer Credit, t, Tax Administration, Tax Credits and Deductions
If you forgot to include some income or to take a deduction or to claim a credit(including the first time homebuyer or repeat homebuyer credit) on your tax return – you can correct it by amending your tax return. Generally, to claim a refund, you must file Form 1040X...
by Renu Vardhan | Aug 3, 2010 | 2010 Credits/Deductions, Homebuyer Credit, Tax Credits and Deductions
Eligible taxpayers who contracted to buy a home, qualifying for the first-time homebuyer credit, before the end of April now have until Sept. 30, 2010 to close the deal.The Homebuyer Assistance and Improvement Act of 2010, signed by the President, extended the closing...
by Renu Vardhan | Nov 6, 2009 | Homebuyer Credit
First-time home buyers, who are defined by the law as buyers who have not owned a principal residence during the three-year period prior to the purchase, get a tax credit for 10{eb914d8c00d6b744d02a9a8064b0bfd5c559be7136358887c29ad495da2b8d17} of their purchase price,...
by Renu Vardhan | Jul 9, 2009 | Homebuyer Credit
Under the American Recovery and Reinvestment Act of 2009, qualifying taxpayers who purchase a home before Dec. 1 receive up to $8,000, or $4,000 for married individuals filing separately. People can claim the credit either on their 2008 tax returns due April 15 or on...