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.