The Federal Tax Credits Blog

Archive for June, 2010

Question: a question regarding tax credits?

I was just wondering, they received my forms on tues and wondering how long roughly from your experience they take to come through..
also does anyone no how much i can get, my partner works full time and earns 35,000 per annum and we have one baby under 1?? just roughly, im not asking exact….also my friend has got a new baby just born and her and her partner are not working,they are both claiming job seekers allowance and want to claim child tax credits, can they do this and if they do will they get more then i will?how much roughly would they get? i understand noone can say exact just rough answers would do.thanks xxx

Answer: Hello.

It can take up to 6 weeks to process your claim, but will be back dated to the date you first claimed, or the date of the baby’s birth if you have claimed within 3 months.

You will get 20.96 per week, (assuming your household income is in total between the 35K stated and less than 52K p.a) this is made up of the Basic element and baby element. Your partner’s earnings are too high to qualify for any additional amount. The Baby element ends when your wee one turns 1 after which you will only get the basic element of 545 per year or 10.48 per week. You will get your child benefit of 18.80 per week on top of Tax Credits

Your friend should indeed apply for child tax credits as well as JSA, JSA used to pay for children now anyone with a child must Claim Tax Credits for the child. She will get Basic plus baby plus child elements which works out at 61.05 for the first year and 50.57 there after. (they should also be claiming housing benefit (if they rent) and council tax benefit)

Lastly if anyone tells you the sleepless nights get easier they are lying..enjoy the wee one they just get better and better

You can work out your amounts and apply online here http://www.taxcredits.inlandrevenue.gov.uk/HomeNew.aspx

Budget June 2010: Osborne’s speech

The full text of the Chancellor of the Exchequer’s Budget speech delivered today.

The New 2009 Tax Deduction for Car Buyers

Question: How can I tell if my new asphalt roof is eligible for the nonbusiness energy property tax credit?

Just to clarify, I am referring to a roof on my primary residence.

Answer: Did the contractor that installed it provide a copy of the manufacturer’s certification that the granules used meet the EPA Energy Star criteria for the credit?

Old-fashioned family fun in Lake Placid

No one cares that the water is cold. The kids splash at the lake’s edge, play on the small sand beach as older, daring ones splash in the water and peddle kayaks, rowboats and paddleboats. Our pup eyes them all curiously.

Solar Attic Fan 20-watt with 25-year warranty $375.00 Natural Light 20-watt Solar Attic Fan Features: The environmentally sensible solution that can protect your home and save you money! EASY INSTALLATION – NO WIRING ? Reduces cooling load on AC units ? Operates on free solar energy ? Adjustable solar panel ? Three models available to fit all roof types ? Powder coated aircraft grade aluminum ? Best warranty in the industry 25-year warranty…

VoteSolar.com and Standard Solar – Tax Credit Push at DOE

Question: Tax credit for selling your SUV?

On ABC news the other night Charley commented something about a tax credit for people who have large vehicles with a 18mgp or less that buy newer more fuel efficient cars!

I have searched the internet but cannot find anymore information on the subject.

Where can I find out more details?

Answer: A credit like that has been mentioned/proposed informally, but nothing exists on the federal level at this time.

Congressional leaders address oil spill, health care, other pressing issues

Amidst the hustle and bustle of their legislative schedules, local representatives in the U.S. Senate and U.S. House of Representatives took some time last Thursday to sit down with Gazette-Journal reporters in their Washington, D.C., offices to take a look at some of the issues that are not only hotly contested in the nation’s capital, but are also close to the hearts and minds of many at home.

Garmin nüvi 265W/265WT 4.3-Inch Widescreen Bluetooth Portable GPS Navigator with Traffic $135.00 …

Salt Lake City Deserves Clean Air (v2)

Question: My amended return has been processed. How long will it take to receive a check?

I amended my 2008 tax return for the first time home Buyers Tax Credit on October 30th. I called the IRS this morning(Dec.18th), and I was told that it has been processed, but they were waiting for it to post to my account so that I can get a definite date of when the check will be mailed. About how long does this process take? Should I be expecting to receive a check sometime soon?

Answer: For you, I hope the customer servive representative was correct in their interpretation of the screen.

I truly hope they saw a pending transaction showing the $ amount, because that would mean the amount had been entered into the computer…it can take 2 1/2 weeks for a pending transaction to post and cause a check to be issued.

Given that it’s been taking months to process the credit and you mailed your form in a 7 weeks ago, I’m very surprised.

Broward considers tax rate hike, spending cuts

Property tax rates for Broward County government could increase as much as 10 percent this fall to avoid library closures and deep cuts to law enforcement and social services.

October price fall a first since end of tax credits: median slips to $346,000, but has bottom been reached?(REAL ESTATE): An article from: Los Angeles Business Journal $9.95 This digital document is an article from Los Angeles Business Journal, published by CBJ, L.P. on November 8, 2010. The length of the article is 6023 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available immediately after purchase. You can view it with any web browser.Citation DetailsTitle: October price fall a first since e…

Senator Johnny Isakson on Expanding the Homebuyer Tax Credit

Question: Will Obama Enact a Tax Credit in 2010 for First Time Home Buyers?

I am thinking about buying a house but don’t want to buy this short sale I saw if there isn’t a tax credit. The reason being I may not close by December 1st.
I know you already get up to 8k, I may not close on the place until 2010 because short sales take much longer than foreclosures and standard sales…

Answer: There is no way to know whether the first time homebuyer credit will be continued or expanded beyond the end of November 2009. You need to construct your offer for this property such that it closes before the tax credit deadline or the deal is off.

Congress to weigh regulation of financing by auto dealers

Dealers say that they’re just trying to help customers secure loans and that they’re already covered by anti-fraud regulations. But consumer advocates say more government oversight is needed. Heading into the final stages in overhauling financial regulations, a joint congressional committee is ready next week to tackle one of the thornier issues — whether car dealers will be regulated by a …

Extended and expanded First-Time Home Buyer Tax Credit