The Federal Tax Credits Blog

Archive for April, 2010

Hydrogen Leak Reported at Tech Park in South Charleston

Kanawha County 911 Dispatchers tell WSAZ.com there has been a hydrogen gas leak at the Tech Park in South Charleston.

Senate Session 2010-04-12 (14:00:02-14:49:58)

Nissan Opens Leaf Reservations to Public

FRANKLIN, TN – Nissan North America Inc. opened reservations for the Nissan Leaf zero-emission, all-electric vehicle on May 15 to the general public.

Question: Can I deduct sales tax and also get a hybrid tax credit on a new 2010 car purchase?

Or can you only do one or the other?

Answer: They are separate and one doesn’t exclude getting the other, but the hybrid credit on many models has expired due to the number of units sold.

Roadshow: Carpoolers could get tax break

Congress considering pre-tax credit for those who share a ride to work.

Credit Card Skimming Devices Affixed to Gas Pumps www.IDTheftSecurity.com

Question: Irs FRAUD how do i report it and what will they do?

A friend of mines mom has been claiming her children for eight years, and they have never lived with there grandma. my friend is claiming foodstamps on the kids and they live with her, and they are laughing about it recieve over 12,000 dollars for the past eight years in unearned child tax credits. and this is a slap in the face to all the hard working people in america who pay there taxes. so how do i report it and what will happen if i report this???

Answer: Contact the IRS and ask for the appropriate department. Give them the particulars such as the person’s name, address etc and details of your complaint. You do not have to identify yourself. If they see merit in the complaint they will put an investigator on the case and put the person under surveillance. Whether there will be charges and penalties levied is up to the IRS. You are doing the right thing

Homebuyers still waiting for tax credit

First time homebuyers thought getting an $8,000 tax credit would be a snap – not so apparently

www.fakepaycheckstubs.com

Question: What kind of mortgage do I need?

With the housing market like it is and my credit finally improved, what kind of mortgage do I need to get. I will be a first time home-buyer, but my situation is complex:

1. I am active military and currently overseas.
2. My sister will be living there in my absence to maintain it… NOT for rent. I do not want to purchase it as an investment property.
3. Both of the ones I am considering are under $25,000.

It will be my primary residence when I am done with active duty, and in the meanwhile, I will be moving my belongings in, I just won’t physically be there. (I don’t even have an addy for my driver’s license).

Please help me out or at least point me in the right direction. My sister has the POA to take care of everything regarding the purchase and closing and everything else and I have an awesome real estate agent that is trying to help (but doesn’t know the specifics).
Thanks!!!

Answer: you need to get approved by a mortgage professional. then make the offer and let her serve as poa BUT in a mortgage the lender will require a specific POA just for this loan no question so wait till you have acceptance and approval then get the specific number emailed to you. I am sure in the JAG office you can get this done and even fedex back in time to close
I am a mortgage banker in TN & KY

Minnesota First Time Home Buyer Incentive Ends Soon

Realtors believed the tax credit incentive has increased sales. Gary Kalligher, the Owner of Remax 1 in Duluth, said that 176 homes have sold this year, compared to 161 homes at the same time last year.

Home-buyer Tax Credit for the Military Featured on Live 5 News