MiamiRealEstateKing

Information Resource for Tax Credit Info

In First-Time Buyer, government, Home Buyer, IRS, new rules, real estate, tax credit, Tax Matters on February 4, 2010 at 12:08 pm

There is a lot of confusion about the tax credit buyers may qualify for after closing on their first or dream move-up home.

There are several places to go for information and buyers should only seek official websites (as opposed to official-looking).

The National Association of Realtors (an entity that is over 100 years old), has great information for consumers that answers the following questions and provides links to other sources like the IRS.

Visit: http://www.realtor.org/home_buyers_and_sellers/2009_first_time_home_buyer_tax_credit

Some of the FAQs explored are:

Who Qualifies for the Extended Credit?

Which Properties Are Eligible?

How Much Is Available?

How is a Buyer’s Credit Amount Determined?

If the Buyer(s)’ Income Exceeds These Limits, Can He/She Still Get a Credit?

Can a Buyer Still Qualify If He/She Closes After April 30, 2010?

Will the Tax Credit Need to Be Repaid?

Obviously, you should review this information and the information provided in the related links with the IRS so that when you sit with your tax preparer, you are not caught by surprise and more importantly, so that you are comfortable knowing whether your tax preparer is well versed on the subject.

Your comments welcomed 🙂

Advertisements

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: