First time homebuyers must file for their tax credit on paper not on line.
The first time homebuyers filing for the $8,000 tax refund are required to use IRS form 5405 and must file on paper. There are instructions on the form outlining what documentation is needs to accompany the form. The stricter filing regulations are intended to prevent fradulent claims. According to the US Treasury 90,000 taxpayers falsely applied for the credit.
Realty Times had a comprehensive article today outlining the documentation that first time homebuyers will need to include with their return and also the documentation that existing buyers requesting the $6,500 tax credit will need.
Contact Pam Dent, e-PRO, SRES, NHD, REALTOR®, Real Estate III, Charlottesville, Virginia at 434 960-0161 to buy a property in the following areas in Central Virginia: Charlottesville, Albemarle County, Keswick, Glenmore, Ivy, Crozet, Earlysville, Free Union, Cismont, Scottsville, Fluvanna County, Palmyra, Lake Monticello, Louisa County, Louisa, Mineral, Spring Creek, Orange County, Gordonsville, Orange, Barboursville, Greene County, Ruckersville. Email Pam Dent.
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