The Federal Tax Credits Blog

Posts Tagged ‘tax-credit’

Question: Tax credit for new homeowners.?

I know there is an extension for armed service members serving outside the us. This is all the info i can find on it. Any one know the times you have had to serve over seas to obtain the the april 30th 2011 deadline. I just got back from my Iraq second tour in Aug. 2009. Any one know if this extension applies to me?

- Members of the Armed Forces and certain federal employees serving outside the U.S. have an extra year to buy a principal residence in the U.S. and still qualify for the credit. An eligible taxpayer must buy or enter into a binding contract to buy a home by April 30, 2011, and settle on the purchase by June 30, 2011.

Answer: Armed service members get until May 31, 2011 to qualify for the first tiem home buyer credit. Yes it would apply to you but you will need proof of being in the service as well as mortgage documentation when you go to file the FTHBC form 5405

MORTGAGES: Bill won’t help strategic defaults

What happens if you walk away from a mortgage you can afford to pay?

Reid Leads Passage of Homebuyer Tax Credit Deadline Extension

Question: Is the new $8000 First time Home Buyer Tax Credit Taxable Income?

If we get the $8000 tax credit for buying a home, is this considered taxable income when we file our taxes the following year?

Answer: Tax credits are not taxable income.

US Money Supply Plunges at 1930′s Pace and Housing Index Dives

The M3 money supply in the United States is contracting at an accelerating rate that now matches the average decline seen from 1929 to 1933, despite near zero interest rates and the biggest fiscal blitz in history.

New tax credit good news for first-time home buyers.(Business)(Taxpayers may be eligible for up to $8,000 that does not have to be paid back): An article from: The Register-Guard (Eugene, OR) $9.95 This digital document is an article from The Register-Guard (Eugene, OR), published by The Register Guard on February 26, 2009. The length of the article is 655 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: New tax credit good ne…

8000 Tax Credit First Time Home Buyer – Tulsa Mortgage Companies – ZFG Mortgage – 918-459-6530

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 $130.00 …

Salt Lake City Deserves Clean Air (v2)

Question: Do i have to submit my tax by april 16 or get an extension?

i don’t have to pay taxes and always get a refund since i claim one but this year i’ve purchased a condo and am signing the papers tomorrow. i heard that the tax credit for the 8000 first home time buyer’s is being extended to June so can i file my taxes after april 16 so i can get all my condo papers in order? you only have to file before then right if you owe but now if you are getting a refund? confused by all of this-
but i thought i only have to submit by april 15 if i’m paying- i have heard that if you are getting a refund you have to file in a two year period to get your refund.

Answer: File now; amend when you close on the condo. That way you can at least get part of your refund now (assuming you’re due one) and you don’t have to wait on the 12-16 week delay with getting FTHB.

Community Calendar

Submissions for Community Calendar are required 14 days preceding the date of publication. Send to: Nile’s Managing Editor, Pioneer Press, 3701 W. Lake Ave., Glenview IL 60026. Information may be faxed to (847) 486-7495 or e-mailed to mbottari@pioneerlocal.com.

Tax Credit Extended

Question: Will there be any Federal Tax Credit for the purchase of a new hybrid car(2009 Prius model)?

Thanks for the answers.

Can we expect any thing similar in future? Is any one trying to extend that Tax Credit period.
Nova, I can understand your feelings, but you can go for a hybrid minivan or a hybrid suv. Govt shd encourage using hybrid vehicles as it reduces gas usage and makes US less dependent on Gulf countries. US already saved 180,000 gallons of gas by using Hybrid vehicles. But still US consumes 400 Million gallon of gas. Dont you think its too high?

Answer: This IRS web site shows the qualified cars and credit amounts for all 2008 Model Year Hybrid Vehicles:

http://www.irs.gov/irs/article/0,,id=176409,00.html

(There’s only 1 reference to the 2009 model year in the chart. Who knows what will occur that far in the future? Depends on what happens in the upcoming elections.)

Nine O’Clock

Wage and pension cuts never to be reversed, says Governor’s adviser Lucian Croitoru.

Garmin nüvi 265W/265WT 4.3-Inch Widescreen Bluetooth Portable GPS Navigator with Traffic $130.00 …

Electric Car NISSAN LEAF on sale April 2010 $25280 after US tax credit