News regarding the Home Buyer Tax Credit and How to file for it......Owensboro, Ky home buyers as well as other home buyers,  please read this......

 

Via Leslie Ebersole (Baird&Warner Real Estate):

From CNNMoney.com, we have just learned that the way the IRS is "handling" the tax credit is turning into yet another stumbling block to helping the real estate market recover. This seems to me to be so unfair! Anyone who qualified for the credit probably could really use that money, whether to repay mom and dad for the down payment loan or as cash to repair that fixer-upper they bought. I'm going to email the article and link this out to my clients IRS Form 5405.

Home Buyer Tax Credit: No e-file and four month delays

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By CNNMoney.com Les Christie staff writer

January 16, 2010: 6:54 AM ET

NEW YORK (CNNMoney.com) -- Good news homebuyers: You can file for your $8,000 first-time buyer tax credit again. Bad news: You still can't e-file your taxes if you want the cash. And there are long delays.

On Thursday, CNNMoney revealed that buyers who purchased their properties after Nov. 6 were unable to claim the refund because the Internal Revenue Service had yet to release a new form and instructions. But on Friday, the IRS finally posted the new form 5405.

The two-month delay was frustrating to Florida resident Charles Teschke. "We are not broke or anything, but nevertheless we were still counting on getting the tax refund to help pay for the appliances and stuff we needed for our new home," he said. "The IRS told me they estimate it will take four months for me to get my refund!"

First-time buyers were able to immediately file for the tax credit after Congress approved it last February as part of the stimulus program. All they had to do was file an amendment to their 2008 tax returns (the ones they filed last April) and claim the promised refund of 10% of the purchase price, up to $8,000.

 

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If you would like to buy or sell a home in Owensboro, Kentucky, please call  270-315-5354, or you can visit www.Maverick270.com  or email me for more specific information on the communites I serve.  Click here to view all properties  for sale in Owensboro Kentucky and surrounding areas. 

Vickie McCartney, Realtor, Broker Associate, ABR,~ Maverick Realty, Owensboro, KY

 

14 Comments on How to File for $8,000 Tax Credit

JAN
20
2010
112,426 Points

Hi Vickie-thanks for the re-blog. This is unsettling news and I know my clients from the past 10 months will not be happy.
5:17am • #1
JAN
22
2010
258,641 Points 1 Featured Post Outside Blog Attended Rain Camp

the delay should not be happening! that is horrible...
9:12am • #2
JAN
25
2010
179,750 Points 2 Featured Posts Outside Blog

Hi Vickie,

This is off the subject but how do you get all those little icons to link separately when they are on the same line.  I was trying to add those to my signature last night and when I woul add a new one it would capture the one before it so that facebook became the same link as youtube when I did youtube as the second icon.  The only way I could prevent that was to put them on separate lines.

 

 
8:50am • #3
439,212 Points 2 Featured Posts Outside Blog Called Shot Master

Hi Paul~  My friend, Barb Szabo from ActiveRain and her husband walked me though how to do it over the phone a while back.   I would be happy to help you, but I am afraid I may not remember how we did it! 
12:21pm • #4
JAN
27
2010

Vickie, thanks for keeping us informed...GROAN...at least we can look informed as we fall on our Hero swords!
1:05pm • #5
FEB
07
2010

Just stopped by to let you, and anyone reading this, know that there's an ActiveRain Super Bowl Party going on. Stop by if you have a chance.
8:03pm • #6
FEB
11
2010
637,065 Points 10 Featured Posts Localism Sponsor Outside Blog

Hi Vickie - This is great information that I'm sure will be used by many first time home buyers. Are you tired of the snow yet?
7:46am • #7
FEB
13
2010
392,659 Points 12 Featured Posts Localism Sponsor Hit Router Called Shot Master

Hopefully it will get easier for the buyers of 2010. 
11:30am • #8
625,934 Points 1 Featured Post Outside Blog

Hi Vicki, I had not seen Leslie post but I am glad you reposted it. I was not aware of this.
12:08pm • #9
FEB
15
2010
273,297 Points 2 Featured Posts Localism Sponsor Outside Blog

Great information to get out about the delay.  Thanks for the heads up.
5:22pm • #10
FEB
16
2010
698,000 Points 15 Featured Posts Outside Blog Called Shot Master

Thanks for this reblog.  I refer back to it often when people call me about the tax credit.  It can be so confusing for the general public.  And, I usually just advise them to talk to their tax professional anyway. 
9:42pm • #11
FEB
17
2010
1,352,557 Points 42 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

This has to be so frustrating to people who are buying and expecting to get the credit quickly.  Thank you for spreading the information.
12:17am • #12
FEB
19
2010
712,458 Points 118 Featured Posts Localism Sponsor Outside Blog Called Shot Master

Vickie,

This is a useful post!  thanks for reblogging it.

Mike in Tucson
4:00am • #13
FEB
21
2010
1,352,557 Points 42 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

I love Active Rain.  I had a client asking for this form just tonight, so I came back looking for it.

 

Thanks.
11:09pm • #14


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Owensboro KY Real Estate Agent Vickie McCartney Broker Owensboro Ky

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