The Federal Tax Credits Blog

Archive for July, 2010

Multi-Color Corporation Announces Results for First Quarter of Fiscal 2011

Multi-Color Corporation today announced first quarter increases in net revenues and gross profit.

Question: Can I still amend my 2008 tax return to get the new home buyer’s credit?

I recently purchased a house this year and also got married. I don’t want to file my 2009 taxes jointly in order to get the entire home buyer’s credit. Am I too late to file an amendment for my 2008 taxes (where i filed single) and get the full credit? I am in the military and stationed overseas, and at the moment also currently deployed, if that offers any other kind of extensions)

Answer: yes, you can claim home buyer’s credit on 2008 amended tax return. you can still file it.

On the amended tax return Form 1040X, enter the credit on line 15 of Form 1040-X and enter “Form 5405″ in the white space at the end of line 15, and attach the Form 5405. Attach a copy of the HUD-1 or RESPA settlement sheet as proof.

Lack of credit extension would dash hopes of home buyers

Up to 180,000 home buyers will lose their tax credit through no fault of their own if Congress fails to pass an extension to the home buyer tax credit by June 30 when the closing deadline expires.

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DeMint Speaks Against Misguided Housing Tax Credit