IRS Releases Homebuyer Tax Credit Information

A week after the original launch date, IRS officials released information about filing for the Home Buyer Tax Credit – 1st Time and Existing.

IR-2010-6 is the official news release and it provides you with links to the filing forms and instructions. It is important for consumers to attach the Settlement Statement with all pertinent transaction information when filing. We have the NEW Form 5405 and Instructions at our website, www.mnrealtor.com.

REMEMBER: Time is running out for existing homeowners to take advantage of the Tax Credit.
WASHINGTON – The Internal Revenue Service released the new form that eligible homebuyers need to claim the first-time homebuyer credit this tax season and announced processing of those tax returns will begin in mid-February. The IRS also announced new documentation requirements to deter fraud related to the fist-time homebuyer credit.

Read the entire Official News Release: IR-2010-6

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