The Federal Tax Credits Blog

Archive for February, 2010

Question: what can you earn in scotland and still be entitled to child tax credit ?

i have a 4 week old me and my partner both work. what can you earn in scotland and still get some sort of child tax credit, and how much would we get depending on income. think both our income will be around 35,000 a year?

Answer: ask at your local dss office, always worth it

Iowa’s first lady explains Earned Income Tax Credit

FORT MADISON –– It’s been around since 1975, but Iowa first lady Mari Culver says she has found many Iowans don’t know it exists. The first lady is making the rounds this week, stopping in Fort Madison Wednesday, to change that by educating Iowans about the Earned Income Tax Credit.

Optimizing Child Tax Benefits by Jackson Hewitt ®

Question: Is there only a certain amount of $ available for First Time Home Buyer’s $8k tax credit?

We reside in FL and are looking at purchasing our first home. After looking at homes for months, talking to various banks (pre-approved by 2 of them w/ totally different amounts) and working with a realtor. The bank we’re considering using has just informed us that the $8k First Time Home Buyer money has a cap on it, meaning that each state, county, etc. only received a certain amount. That being said, our county where we live only got $300k for the program which equals to 37 1/2 homes/buyers. Since our area is a buyers market, I know that if that is true, there is no way we’d be able to receive the $8k because it would be gone. Any info on this? Thanks

Answer: There are no caps; local, regional, or national.

The banker has no idea as to what he/she is talking about.

Rangers top Senators, 4-1

OTTAWA — And so the Rangers approach this afternoon’s 3 p.m. trade deadline with their first three-game winning streak since late December, with an expanding amount of salary cap space with which to work, but without Marian Gaborik for an indefinite period of time. That leaves it up…

Answers with Ray the Realtor Ep6 First time Homebuyer’s Tax Credit

Destiny Resource Services Corp. Announces Shareholder Approval of Merger With Logan Oil Tools and 2009 Results

CALGARY, ALBERTA– – Destiny Resource Services Corp. announces its shareholders overwhelmingly approved the previously announced merger with Logan Holdings, Inc. at a Special Meeting held today.

Lynnwood For Rent – MARION, IA

Solar Storms Could Be Earth’s Next Katrina

Every few decades, the sun experiences a particularly large storm that can release as much energy as 1 billion hydrogen bombs. Officials from Europe and the U.S. say an event like that could leave millions on Earth without electricity, running water and phone service.

IAPMO ETS: The Water and Energy Connection: What Does it Mean for You? – Part Two

Question: IRS Form 5405 Housing Credit?

Ok my wife and I are purchasing a home next month and know that we are qualified to receive the full $8000 tax credit. We have already filed our taxes this year as most people have. The question is do we just file the form 5045 when we purchase the house or do we have to wait until next year and file it with our tax returns.

Answer: File a 1040-X for your 2008 taxes. There is a good chance that it will not take the usual 8-12 week time frame. The IRS is watching for 1040-X returns that are being filed only to get the Housing Credit and is giving them priority status (to get the money into circulation ASAP as part of the Stimulus Bill).

Students & Parents Can Take Advantage of College Tax Credit

The American Opportunity Credit is offering a tax credit to students and parents help with higher education expenses. read more

IRS Self Employed Tax Deductions & Write Offs 2009, 2010