The Federal Tax Credits Blog

Posts Tagged ‘home buyer’

Question: I’m buying a home on contract from my Dad, am i eligible for the homebuyers tax credit? Not a firstime buyer.?

Am I eligible for the home buyers credit of $6500 even if I am not a first time buyer? I read where there is a buyers credit for any new home buyer if you have a contract.

Answer: Dear P: Look at IRS Form 5405 instructions and your dad is a close relative and that nixes the deal.

This advice was prepared based on our understanding of the tax law in effect at the time it was written as it applies to the facts that you provided. Click on my profile to read more Errol Quinn Enrolled Agent

Los Angeles Acting Schools and Coaches

The following is a list of Los Angeles–area stage and film acting schools, teachers, and coaches organized by category and alphabetically.

Collier Swecker on First Time and Repeat Home Buyers Tax Credit

Question: 1st time home buyer credit?

i did my friend’s amended taxes since she bought a home last month. now i know that the check will be sent out after 2-3 months but does anybody know if there’s a way to monitor its status and whereabouts?
scoffs* checks. scoffs again* checks with no status inquiry. all this technology and we’re still doing checks. wow. well i’ll break it down for her. lol

Answer: The only way to check on the status of amended returns is by contacting the IRS. The online portal “Where Is My Refund” only works with regular returns.

Call at least after 12 weeks following the submission of the tax return. The IRS won’t have much info to give you under that time; the backlog for processing amended returns have lengthened to 16 weeks+. Be patient.

No cards; tax bills arrive in envelopes

The first week in December is when the Marshall County tax collector’s office starts sending out “Christmas cards” for the 2010 property tax year. This year, the format of real property tax notices has been changed to a sheet-style notice mailed in an envelope.

$8000 First Time Homebuyer Tax Credit

Question: $8,000 first home tax credit – am I eligible?

Here is the scenario. My wife and I bought our house five years ago and we still live in it. We are thinking of moving and I was wondering if we would be eligible for the first time buyer’s $8000 tax credit.

Some people have told me yes because we bought our home more than three years ago. And some people have told me no, because it is not our first home. Can someone clear this up for me?

Answer: No you are not eligible for this credit. You must not have lived in a home you owned in the last three years.

Downtown losing a ‘Spark’

Owner plans to close South Bend stationery store Dec. 31 Joya Helmuth placed her downtown South Bend stationery store on the market in August, figuring she had two years to find a buyer.

Move-Up/Repeat Home Buyer Tax Credit North Scottsdale Real Estate0

A Gold Buyer’s View of the Lopsided Risk-Reward Ratio

You’d expect gold to rise when there is consumer price inflation. And there is quite a bit of it. But not in the US…nor in most of the developed countries. Maybe some people are buying gold to protect themselves from inflation, but it looks to us as though they are buying it for another reason – because they are fearful that something is going to go wrong.

Michael Ackerman Talks Seattle Real Estate.Homebuyer Tax Credit Extension (Again!)