The Federal Tax Credits Blog

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Hearthstone Equinox Wood Stove

Macroeconomics of Taxes and Tax Reform [Roger W. Garrison]

Budget fires consume Wilmington, many other cities

From fire trucks to potholes, needs outrunning resources in American cities.

Led shirts, Headphones

Question: Did you think the Patriot Act was Bad?

Post online comment? Feds want your name.

A federal prosecutor in Nevada is trying to get the names, telephone numbers, IP addresses and possibly even the credit card numbers of newspaper readers who participated in a forum about a tax protest case.

http://www.worldnetdaily.com/index.php?fa=PAGE.view&pageId=101348

Even the ACLU is up in arms about it.

“In the ACLU of Nevada’s view, the subpoena violates the important First Amendment rights of anonymous commenters. We at the ACLU of Nevada have always fought for the fundamental right to engage in anonymous political speech and we want to protect the rights of anonymous commenters.”
Seems nobody read the thread and missed the point, you all complain about the Patriot act and how bad it is yet you’re willing to let 0bama delve into your private life and find out who you are, where you are and haul you before the courts if he doesn’t like what you’re saying…WAKE UP EVERYONE.

Answer: I despise the patriot act! It disgusts me to no end that the federal government monitors what I read.

BRIEFLY: April 9

Read about what’s happening in and around Plymouth.

Alaska Reality Shows Get Sarah Palin Socialist Tax Credits

Question: Existing homebuyers tax credit?

We sold a home we lived in for the past 5+ years. The closing on that home was the first week of October. We are now in the process of buying a home….we put the offer in back in September but it is in short sale and we are still waiting to get an accepted offer from the bank. Will we qualify for the existing home-Buyers Tax Credit that Pres. Obama signed into law on November 6th? I can’t find any information about dates for buying and selling that apply to this credit. Also, is the credit in the form of a rebate check or is it an actual credit on our taxes?
Thanks for any usable information!

Answer: Under the new law, an eligible taxpayer must buy, or enter into a binding contract to buy, a principal residence on or before April 30, 2010 and close on the home by June 30, 2010. For qualifying purchases in 2010, taxpayers have the option of claiming the credit on either their 2009 or 2010 return.

Also, since you lived in your previous home for at least five of the past eight years, you meet that qualification.

Provided the date on your contract to purchase is on or after November 6, 2009, and you meet the income and all other qualifications, you should qualify for the $6,500 tax credit.

It is a credit against any tax you owe. Let’s say after doing your taxes, you owe the IRS $1,000. After your homebuyers tax credit, you would get a refund of $5,500.

Or, let’s say you did your taxes and you are expecting of refund of $1,000. After your homebuyers tax credit, you would get a refund of $7,500.

Travel bug, hospital ache

People next door and those not so near have some common concerns. The Telegraph tracks their before-and-after budget thoughts What are your expectations for yourself from the budget?

President Obama Signs Tax Cuts and Unemployment Insurance Legislation