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Topic: Dan Boone
Tennesseans file nearly 36,000 claims for first-time homebuyer credit
September 18, 2009 | 
Taxpayers Must Close Before Dec. 1 to Qualify
Nashville — With the deadline quickly approaching, the Internal Revenue Service today reminded potential homebuyers they must complete their first-time home purchases before Dec. 1 to qualify for the special first-time homebuyer credit. The American Recovery and Reinvestment Act extended the tax credit, which so far has provided a tax benefit to more than 1.4 million taxpayers nationwide, including 35,892 in Tennessee.
The number of claims filed by Tennesseans is the 13th highest in the nation. “IRS is glad to see that many Tennesseans have taken advantage of the homebuyer credit,” said IRS spokesman Dan Boone, “but the clock is ticking for those who hope to and have not.”
The credit of up to $8,000 is generally available to homebuyers with qualifying income levels who have never owned a home or have not owned one in the past three years. The IRS has a new YouTube video and other resources that explain the credit in detail.
A house for sale in Clarksville, TN by Crye-Leike reality
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Buy home or new vehicle, get tax break
July 19, 2009 |
Purchase of Home or New Vehicle Could Generate Tax Break
NASHVILLE – If you’re considering buying a main home or a new vehicle, the Internal Revenue Service wants you to know you may qualify for a tax credit or a deduction after the purchase.
“Qualifying homebuyers generally can file for the First-Time Homebuyer Credit immediately after they purchase a home,” said IRS spokesman Dan Boone. “However, the deduction for buying a new vehicle is taken when you file your 2009 tax return next year.”
Homebuyers can get a tax credit, while new vehicle buyers can get a tax deduction. A tax credit comes directly off the taxes you owe, while a deduction lowers your taxable income, indirectly reducing your taxes. «Read the rest of this article»
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