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IRS Releases Instructions on how to Claim Homebuyer Tax Credit

Dennis Norman

If you are one of the million-plus homebuyers that was fortunate enough to qualify for the Home Buyer tax credit, read on for information on how to claim your credit.

Today the Internal Revenue Service released a new form that eligible homebuyers must need to use to claim the first-time homebuyer credit this tax [...]

Will you owe taxes on a short-sale or foreclosure?

Dennis Norman

Depending on which estimate you believe, somewhere between one-third and one-half of the homeowners with a mortgage in the U.S. owe more on their homes than their homes are currently worth. This has lead to an unprecedented amount of short-sales and in many cases, a lender “forgiving” you of the short-fall (the amount [...]

New updated info from IRS on Homebuyer Tax Credit

First-Time Homebuyer Credit Extended to April 30, 2010; Some Current Homeowners Now Also Qualify 

WASHINGTON — A new law that went into effect Nov. 6 extends the first-time homebuyer credit five months and expands the eligibility requirements for purchasers.

The Worker, Homeownership, and Business Assistance Act of 2009 extends the deadline for qualifying [...]

First-time homebuyer credit provides tax benefits to 1.4 million familes to date according to the IRS

Dennis Norman

By: Dennis Norman

“I’m from the IRS and I’m here to help you.”

Yeah, sure.

Actually, in this case the IRS is trying to help. The IRS has a website and has even published a video on YouTube to help first-time buyers and potential buyers understand the first-time home buyer tax credit as well [...]

IRS Warns Taxpayers to Beware of First-Time Homebuyer Credit Fraud

The Internal Revenue Service this week announced its first successful prosecution related to fraud involving the first-time homebuyer credit and warned taxpayers to beware of this type of scheme.

On Thursday July 23, 2009, a Jacksonville, Fla.-tax preparer, James Otto Price III, pled guilty to falsely claiming the first-time homebuyer credit on a client’s federal tax [...]