Saturday, August 1, 2009

$8000 First Time Home Buyers Tax Credit - Get your credit on your 2008 tax return!

Yes you can receive this credit even if you already filed your 2008 Federal Tax Return.

Here is how it works.

If you purchased a home in 2009 after you filed your 2008 Federal Tax Form, all you have to do is file an amended form for this year. You are in the money. It is that easy.

TaxSmarty.com can help you with the amendment and you will be waiting at your mailbox for the credit in no time. www.taxsmarty.com

Many questions have been asked – one is do I qualify for the First Time Home Buyers Tax Credit? Here is the answer:

A first time home buyer is you (single) or your spouse (if married) and did not own any other main home three years prior to buying the new home in 2009. If this is you, apply for the tax credit which is 10% of your new home’s purchase price up to $8000. If you are married and filing separately, it is $4000.

Don’t forget this IRS zinger: You must remain in your new home for 36 months or guess what… the IRS wants the $8000 back. So ensure this is your plan before applying for the First Time Home Buyers Tax Credit.

Visit www.taxsmarty.com for all of your federal and state income tax preparation and planning needs.

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