Tax News
Expanded Tax Break Available for 2009 First-Time Homebuyers
WASHINGTON — The Internal Revenue Service announced today that taxpayers who qualify for the first-time homebuyer credit and purchase a home this year before Dec. 1 have a special option available for claiming the tax credit either on their 2008 tax returns due April 15 or on their 2009 tax returns next year. Qualifying taxpayers [...]
IRS Speeds Tax Lien Relief for Homeowners
IRS Speeds Lien Relief for Homeowners Trying to Refinance, Sell WASHINGTON — The Internal Revenue Service today announced an expedited process that will make it easier for financially distressed homeowners to avoid having a federal tax lien block refinancing of mortgages or the sale of a home. If taxpayers are looking to refinance or sell [...]
IRS Seeks to Return $266 Million in Undeliverable Refunds And Economic Stimulus Payments to Taxpayers
WASHINGTON — The Internal Revenue Service is looking for taxpayers who are missing more than 279,000 economic stimulus checks totaling about $163 million and more than 104,000 regular refund checks totaling about $103 million that were returned by the U.S. Postal Service due to mailing address errors. “People across the country are missing tax refunds [...]
Hurricane Grant Guidelines Now Available
The Internal Revenue Service today released a notice designed to help eligible homeowners who received federal reimbursement grants stemming from Hurricanes Katrina, Rita or Wilma take advantage of a new tax provision. Notice 2008-95 provides guidelines to homeowners who received these grants, including the Louisiana Road Home Grants and the Mississippi Development Authority Hurricane Katrina [...]
Louisiana and Texas Hurricane Ike Victims Qualify for Disaster Relief
WASHINGTON — Louisiana taxpayers who were adversely affected by Hurricane Ikequalify for tax relief from the Internal Revenue Service, including the postponement of tax filing and payment deadlines until Jan. 5, 2009. On Saturday, Sept. 13, the federal government declared the following: Louisiana parishes a presidential disaster area qualifying for individual assistance: Acadia, Beauregard, Calcasieu, [...]
Tax Credit to Aid First-Time Homebuyers
Tax Credit to Aid First-Time Homebuyers; Must Be Repaid Over 15 Years WASHINGTON — First-time homebuyers should begin planning now to take advantage of a new tax credit included in the recently enacted Housing and Economic Recovery Act of 2008. Available for a limited time only, the credit:
