| Pages From the IRS Web Site Click Here to see the very simple Tax Form you would file (Form 5405). And here are the Instructions for Form 5405 To learn more, also see these interesting pages provided by the IRS: Overview of Tax Credit About the Extension of the Credit Helpful Q & A's |
| John R. Hastings Associate Broker Licensed in Arizona |
| * * * * Homebuyers' $8,000 Tax Credit * * * * |
| ALL NEW - 11/06/09 $8,000 1st Time Buyers' Tax Credit - Deadline Extended and Law Expanded to include Current Homeowners with a $6,500 Tax Credit! Everyone who considers buying a home needs to know about this great tax credit program which is available for a limited time only. Due to new law signed 11/06/09 the 2009 Homebuyer's Tax Credit has been extended and expanded to include more buyers. Perhaps you can take advantage of this special tax refund credit to couple with today's low home prices and reasonable interest rates in ways that eliminate many obstacles to purchasing your home. Begin to build your future today!!! Consider this - purchasing a $200,000 home under an FHA loan program requires a down payment of only $7,000. With an $8,000 check from the IRS you can more than cover that down payment and in today's Buyers Market you can likely get the seller to pay most or all of your closing costs. But you must act quickly, as the purchase must be completed before July 1, 2010 to qualify, and the home must be used as your primary residence. And yes, there are ways to get the money in advance (such as changing your employment W-4 withholding or reducing estimated tax payments) so you can “save up” the down payment – AND per the IRS you can treat a qualifying purchase in 2009 as if the purchase was done 12/31/2008 so that you can get the Tax Credit check based on the return you file for 2008. Or you can use it on the 2009 return you file in 2010, or your 2010 return to be filed in 2011 if that suits your financial situation better. Because I am not a lawyer or tax professional I will not try to explain all the rules and considerations you need to know for this program. However I am available to help you find the right home to fit your budget - and I offer the pages below to help you begin to acquire the knowledge you need about this wonderful Tax Credit opportunity. Get going, learn how you can qualify for this fantastic opportunity, and contact me - and then I'll Get to Work for YOU !! |
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