If you purchased a home after November 6th, 2009 or are planning on purchasing a home this year and taking advantage of first time home buyers tax credit, there are a couple of changes you need to know.
New Form – form 5405 is the form you need to claim the first time home buyers tax credit. But if you purchased your Spring Texas home after November 6th, 2009, not just any form 5405 will do. You need to use the revised form 5405. You can download the revised form 5405 and its instructions.
No e-file– that’s right only snail mail will do. Due to six year old children claiming the first time home buyer tax credit, the IRS is requiring buyers to provide a copy of their HUD-1 settlement statement as proof that a house was actually purchased. Smart idea on our government’s part to require documentation. But not as convenient for you to claim the home buyers tax credit.
Longer wait– Due to the snail mail requirement and the IRS not being ready to process any first time home buyers tax credits until mid-February, your check will be showing up in your mailbox a couple of weeks later. The IRS typically processes refunds in 4 to 8 weeks but early filers should expect the processing time to be 7 to 11 weeks.
My family and I have moved many times and have had several realtors in various locations. Jill Wente is hands... read moreMy family and I have moved many times and have had several realtors in various locations. Jill Wente is hands down the best real estate agent in Spring Texas and certainly the best we have ever used. She has represented us as a buyer and seller and then most recently a buyer again the Spring TX area. She helped us figure out what would fit our needs today and what our needs would be 5 and 10 years from now. She was always thinking about future resale value and guided us in the process of making a wise financial decision. She negotiated hard for us and treated our money as if it was her money. She was always available and worked around our schedule. If you are looking for someone with unparalleled knowledge of the Spring TX area look no further, she’s the one you want on your side. I LOVE our new home but if I ever move again, Jill Wente will be who I call. read less