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Monday, August 10, 2009

NY Tax Credit For First Time Home Buyers

by taxnick on August 10, 2009

New York State yesterday rolled out a mortgage tax credit for first-time home buyers, a federal income tax deduction that can be taken each year they pay interest on the loan.
The program, called the Mortgage Credit Certificate, would allow home buyers to take a dollar-for-dollar deduction of 20 percent of mortgage interest paid, Gov. David [...]

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Tax Bill Stall Delaying Tax Refunds

by taxnick on August 10, 2009

Silena Davis had counted on an early tax refund to pay for getting her teeth fixed. Now, because Congress has dawdled all year on a tax bill, she and millions of other early filers could have to wait extra weeks for refunds that last year averaged $2,291.
The Internal Revenue Service is looking hard at delaying [...]

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