{"id":78,"date":"2010-02-26T10:34:37","date_gmt":"2010-02-26T18:34:37","guid":{"rendered":"http:\/\/www.jerrybice.com\/wordpress\/?p=78"},"modified":"2010-02-26T10:34:37","modified_gmt":"2010-02-26T18:34:37","slug":"irs-clarifies-whats-needed-to-claim-tax-credit","status":"publish","type":"post","link":"https:\/\/www.jerrybice.com\/wordpress\/irs-clarifies-whats-needed-to-claim-tax-credit\/","title":{"rendered":"IRS Clarifies What&#8217;s Needed to Claim Tax Credit"},"content":{"rendered":"<p>Daily Real Estate News\u00c2\u00a0\u00c2\u00a0<strong style=\"padding: 0px; margin: 0px;\">| <\/strong> February 22, 2010<\/p>\n<p><span style=\"font-family: arial, helvetica, sans-serif; font-size: 16.5px; line-height: 40px; font-weight: bold; color: #000000; padding: 0px; margin: 0px;\">IRS Clarifies What&#8217;s Needed to Claim Tax Credit<\/span> <br style=\"padding: 0px; margin: 0px;\" \/><span style=\"font-family: Arial; font-size: x-small; padding: 0px; margin: 0px;\">The Internal Revenue Service has clarified which documentation taxpayers need to submit to claim the first-time and move-up homebuyer tax credit.<\/span><br style=\"padding: 0px; margin: 0px;\" \/><br style=\"padding: 0px; margin: 0px;\" \/><span style=\"font-family: Arial; font-size: x-small; padding: 0px; margin: 0px;\">While the IRS is still requiring the filing of Form 5405, it is not demanding that all parties\u00e2\u20ac\u2122 signatures be on the HUD-1 settlement document in areas where requiring both the buyer and the seller to sign the document isn\u00e2\u20ac\u2122t common. <\/span><br style=\"padding: 0px; margin: 0px;\" \/><!--more--><br style=\"padding: 0px; margin: 0px;\" \/><span style=\"font-family: Arial; font-size: x-small; padding: 0px; margin: 0px;\">The IRS clarification says: &#8220;In areas where signatures are not required on the settlement document, the IRS has clarified that it will accept a settlement statement if it is completed and valid according to local law. \u00e2\u20ac\u00a6 The IRS encourages those buyers to sign the settlement statement prior to attaching it to the tax return.\u00e2\u20ac\u009d<\/span><br style=\"padding: 0px; margin: 0px;\" \/><br style=\"padding: 0px; margin: 0px;\" \/><span style=\"font-family: Arial; font-size: x-small; padding: 0px; margin: 0px;\">For repeat buyers, the IRS is seeking documentation that home buyers have lived in the previous property for a consecutive five of the past eight years. Proof can include property tax records, home owner insurance records, or mortgage interest statements.<\/span><br style=\"padding: 0px; margin: 0px;\" \/><br style=\"padding: 0px; margin: 0px;\" \/><em style=\"padding: 0px; margin: 0px;\"><span style=\"font-family: Arial; font-size: x-small; padding: 0px; margin: 0px;\">Source: Washington Post (02\/20\/2010)<\/span><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Daily Real Estate News\u00c2\u00a0\u00c2\u00a0| February 22, 2010 IRS Clarifies What&#8217;s Needed to Claim Tax Credit The Internal Revenue Service has clarified which documentation taxpayers need to submit to claim the first-time and move-up homebuyer tax credit.While the IRS is still requiring the filing of Form 5405, it is not demanding that all parties\u00e2\u20ac\u2122 signatures be &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.jerrybice.com\/wordpress\/irs-clarifies-whats-needed-to-claim-tax-credit\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;IRS Clarifies What&#8217;s Needed to Claim Tax Credit&#8221;<\/span><\/a><\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[1597,2007],"tags":[2224,2248,2281],"_links":{"self":[{"href":"https:\/\/www.jerrybice.com\/wordpress\/wp-json\/wp\/v2\/posts\/78"}],"collection":[{"href":"https:\/\/www.jerrybice.com\/wordpress\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.jerrybice.com\/wordpress\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.jerrybice.com\/wordpress\/wp-json\/wp\/v2\/comments?post=78"}],"version-history":[{"count":0,"href":"https:\/\/www.jerrybice.com\/wordpress\/wp-json\/wp\/v2\/posts\/78\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.jerrybice.com\/wordpress\/wp-json\/wp\/v2\/media?parent=78"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.jerrybice.com\/wordpress\/wp-json\/wp\/v2\/categories?post=78"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.jerrybice.com\/wordpress\/wp-json\/wp\/v2\/tags?post=78"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}