Real Estate Really

Schemes and Scammers

 
IRS impersonation schemes particularly flourish during filing season. These schemes may take place via phone, fax, Internet sites, social networking sites and particularly e-mail. The IRS does not send taxpayers unsolicited e-mails about their tax accounts. 

Many impersonations are identity theft scams that try to trick victims into revealing personal and financial information that can be used to access their financial accounts. 

Some impersonations may be commercial Internet sites that consumers unknowingly visit, thinking they're accessing the genuine IRS Web site, IRS.gov. However, such sites have no connection to the IRS.

For additional information  see http://www.irs.gov/newsroom/article/0,,id=217794,00.html

Protect Yourself!

Tax Credit Expiring!

 In an effort to stimulate the economy and revive the housing market, Congress enacted legislation providing a tax credit of up to $8000 for first time home buyers.  This enhanced tax credit provides an outstanding opportunity for buyers.  It is an improvement of their 2008 tax credit in that, the amount has been raised from $7000 and does not have to be paid back.  That's right....no payback on this baby.

This year, qualifying taxpayers who purchase a home on or after 1/1/2009 and before 12/1/2009, can claim the credit on either their 2008 or 2009 tax returns.  Buyers do not have to repay the credit, provided the home remains their main home for 36 months after the purchase date.  They can claim 10% of the purchase price up to $8000 or $4000 for married individuals filing separately.

Between the declining property prices, the low interest rates, a variety of loan programs and this tax incentive, now is the best time to buy your new home in Fairfax County, Prince William County or anywhere in Northern Virginia.  Let me know if you want more information on the program.  Your lender or accountan will also have details on this.  But don' wait, because the program is going to end soon.