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Tax Tips & News: First-Time Homebuyer Credit

10 New 2011 Tax Laws

10 minutes read

10 New Tax Laws That May Affect You

The good news for taxpayers working on their 2011 tax returns is there aren’t many major surprises this filing season.

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First-Time Homebuyer Credit Under Tremendous Scrutiny by IRS

2 minutes read

The First-Time Homebuyer Credit (FTHC)–where qualifying taxpayers can receive up to an $8,000 tax credit–is under tremendous scrutiny by the IRS as it has been earmarked this year as a credit that is likely to be abused. This is not surprising considering the huge amount of money the IRS could stand to lose due to erroneous claims. However, those that legitimately qualify for this credit MUST be diligent in the documentation they provide in order to receive this credit. The IRS has just...

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