IRS site reliable source for homebuyer tax credit
As a recent first time homebuyer, I was personally very excited to learn about the expanded 2009 first time homebuyer credit. Back in the spring, while going through the process, 
there was very little information available. We relied heavily on the Internet and some long-winded IRS sites for help in securing our tax credit.
We took advantage of the option to file an amended return to our 2008 taxes. Fortunately, though at times wordy and a bit confusing, the IRS website did have all the information needed to complete the necessary forms to receive this credit. The Question and Answer page on the credit answered most of our initial questions while subsequent pages attached to the actual forms had enough instructions to allow us to successfully complete the process.
Suggestion to agents out there: do your homework first and make these forms and information readily and easily available to clients. You will have a better understanding of the credit and it will make it much easier on clients!
Contrary to popular belief (and even what the IRS stated), the credit can even be direct deposited (interest included) to your bank account! When filing the amended return, we were also able to file our change of address forms, securing that all new paperwork and information came to our new home address.
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About Susan C.: Susan Wright is a Professional Development Specialist at the Pennsylvania Association of REALTORS®. You may follow her on Twitter: @cswright23 |
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