Those of you lucky enough to take advantage of the First-Time Hombuyer Tax Credit might be getting a not-so-lucky tax assessment. Somehow the IRS managed to record the wrong purchase date for 73,000+ homebuyers cashing in on the credit. This IRS screw-up could be costly for the unfortunate taxpayers affected. When the First-Time Homebuyer’s Tax Credit appeared in 2008, it …
2009 Tax Planning – It’s not to late!
As 2009 is quickly coming to an end, many taxpayers are looking for opportunities to minimize the money they will owe the IRS. Considering the numerous taxpayer-friendly legislation implemented this year, I encourage you to assess your prospective tax situation (if you have not already done so) and consider some year-end tax planning. Here’s a review of the tax basics …