2009 Tax Updates

 
As a few notables for the 2008-2009 Tax Year, here are some of the most asked questions affecting taxpayers this season. efundable 1st Time Home Buyer Credit
 
Taxpayers who purchase(d) a first home between April 9, 2008 and June 30, 2009 might be able to claim a refundable credit of equal to 10% of the purchase price. Some limitations apply, so be sure to read up on the specifics of this tax credit.  There may be a new provision coming from a stimulus package that may include up to a $15,000 credit for new purchases.

 

Year End Tax Form Deadline Extension

 
Year-end tax forms may arrive later this year. The IRS has extended the deadline to February 17. This may affect 1099 and W2 information that you may receive later, as the regular deadline is January 31st.

 

W2 Reminder

Check your W2 carefully for errors because sometimes mistakes do happen. And, if you find any, there are steps you can take.

For more information consult a tax professional.  Get Prepared for your Taxes