Wednesday, January 27, 2010

Applying for the Home Buyer Tax Credit for a closed escrow after November 6th? You MUST use the correct IRS form...

Taking advantage of the home buyer tax credit as a part of HR 3548, the extension and expansion legislation that was passed November 6th?

The IRS released a new version of Form 5404 last week for folks applying for the tax credit... According to the IRS, you MUST use this new version of the form in order to receive the tax credit.

For the new expanded and extended home buyer tax credit, you need to have closed escrow after November 6th, 2009, and/or be in contract by April 30th and close escrow by June 30th, 2010.

Here is Form 5404 from the IRS website.

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