Taxes: First Time Home Buyer Credit, 2008 Year End Statements

I just received a few updates on a few income tax issues for 2008 tax year I thought I would pass along.

So, here are the most top-of-mind questions, issues and new developments facing taxpayers this season, according to H&R Block.

• Refundable First-Time Home Buyer Credit. With the Refundable First-Time Home Buyer Credit, many taxpayers who purchase(d) a first home between April 9, 2008 and June 30, 2009 may be able to claim a refundable credit equal to 10% of the purchase price. Limitations apply, so be sure to read up on the specifics.
• Tax Form deadline extended to February 17. For many investors, year-end tax forms may arrive later this year. The IRS has extended the deadline to February 17.  I am still waiting on a few statements, so you may be too.
• W-2 Accuracy. Don’t take for granted the information on your W-2. Check it carefully for errors because sometimes mistakes do happen. And, if you find any, to learn about are steps you can take visit http://digits.hrblock.com.

You can visit H&R Block for more information, and a free e-file for your Federal Tax Return with Taxcut Software.

Related posts:

1. Don’t Miss Out on These Tax Credits When Buying a Home or Making Green Home Improvements
2. Tax Advice on Unemployment Income, Self Employed, Home Office Tax Deduction, More
3. Five Tax Tips That Save You Time and Money This Year
4. How to Buy a Home That’s Owned by the Bank

Tagged as: 2008 taxes, H&R Block, IRS, w-2

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