The Federal Tax Credits Blog

Posts Tagged ‘stimulus’

Question: FIRST TIME HOME BUYER CREDIT?

I have a customer who is interested in purchasing a home. They sold a home in 2006 and the title transferred June 1st 2006. They want to take advantage of the first time home buyer credit in the 2009 Economic Stimulus Package, can they take title to a new home on 6/1/09 and qualify for the $8,000 tax credit?

Please advise.

Answer: To play it safe, they should schedule a closing after June 1.

Unwinding stimulus measures to be main challenge for governments in 2010

SINGAPORE: Heading into 2010, governments worldwide will have to start addressing the issue of when to withdraw stimulus measures.

2009 First Time Homebuyer Tax Credit

Question: How stupid are Republicans for not voting for the stimulus bill?

THe exact same people who vote for massive bank bailouts, corporate welfare, corporate tax breaks, offshore tax shelters, etc now don;t vote for a bill which will help AMericans. Infrastructure spending, health care spending, increasing pell grants, middle class tax breaks, expanding the child tax xredit, tax credits for college, investing in green technology and alternative energy, etc. THe Republican party has become the party of Rush Limbaugh, the college dropout oxycontin junkie, which is just sad and pathetic. tHey will lose big time in 2010 for being obstructionists to econmic grotwh.
Bob FDR lowered the unemployment rate from 25.2% in 1932 to 14.6% in 1940.
yeah they were in favor of smaller government voting for massive corproate socialism and bank bailouts.
James climate research can create jobs and improve our environment.

http://www.eriposte.com/economy/other/demovsrep.htm

Answer: More fellow Americans are stupid than you will ever imagine. They cried, rant and complained that Obama would bring this country down, worse than bush……they pouted, complained that we should stay on course with Bush/McCain policies…..hell, just yesterday Obama signed the equal-pay to women into law…..this in iteslf is a testimony of getting things done for our country once and for all.

Seriously, take a look around at all the cry-babies that dreaded watching Obama take the oath as our next president. He is doing a more for this country in his first week than bush did (in breaking more than 150 laws of the constitution) in his entire 8yr run.

2009 an eventful year in Norwood Young America

Editor’s note: This is a look at the first six months of 2009 around the NYA area. The last six months of the year will appear in next week’s Times.

Steve Chen

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.

TAKE 5

Companies wont be sending out the W2 forms needed to complete income tax returns until next month, but the time to start preparing for tax season is now. With only a few days left before the clock runs out on 2009, there still may time to take action to reduce tax liability, said certified public accountant Bob Miller, a director of the Maner Costerisan accounting firm in Lansing. Its time to …

HomeBuyer Tax Credit Explanation Nov. 6, 2009