Information regarding the 2008 Form 5405 First-Time Homebuyer Credit Changes have been made to the first-time homebuyer credit by Public Law111-92, the Worker, Homeownership, and Business Assistance Act of 2009,which was enacted on November 6, 2009. As a result, this … (0 comments)
first time buyer tax credit: The latest word on the TWIN TAX CREDITS from the Internal Revenue Service. - 11/30/09 11:43 AM
Here is the latest missive from the IRS regarding the TWIN TAX CREDITS -- just in case you missed it last week while concentrating on turkey. What it does not clearly get across is: If you close on the purchase of a home after November 6 but before the end of 2009, you can still claim either of the credits against your 2008 tax return by filing the new, as yet unpublished Form 5405 (claiming the credit itself) and a Form 1040X (amended return). If you read my post from the week prior to Thanksgiving, you have no need to read … (4 comments)
It is the first time home price have fallen so severely in a generation. To illustrate that, I'm going to reproduce here, one more time, the graph of the Portland, OR home prices over the last 22 years - as reported by the Case-Shiller Index (as reported by Standard and Poors and the Wall Street Journal) Your metro area may vary. (Only 20 cities are reported. Eighteen of the … (39 comments)
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If you've looked on line lately to see if the Internal Revenue Service has gotten around to publishing a new Form 5405 so your clients can file for their First Time or Move - On Home-buyer Tax Credits for purchases that closed after November 6 , 2009, you know they haven't.
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