Tuesday, August 10, 2010

Aug. 15: Last day to apply for state first-time buyer tax credit

The Franchise Tax Board (FTB) recently announced it will accept applications for the California first-time home buyer tax credit through midnight on Sunday, Aug. 15, 2010. The FTB believes it will have received more than enough applications to cover the $100 million allocated for eligible first-time home buyers. It will continue to accept applications for the new-home portion of the state tax credit.
Due to the high volume of faxes the FTB is receiving, consumers may experience some delays and difficulties in connecting to the fax number during normal business hours. It can take several minutes or possibly up to an hour to connect and transmit the fax. Buyers who receive a busy signal are advised to try again later. The fax number is open 24 hours a day, so consumers may fax applications during non-business hours when the line is not as busy.
For more information about the California state tax credits for first-time buyers and buyers of new homes, including eligibility requirements, please visit http://www.ftb.ca.gov/individuals/new_home_credit.shtml.
We at the Sanborn Team are here to help you with all of your real estate needs. Our website at: www.sanbornteam.com offers great information about probate and trust sales and how they work. We have over 30 years of experience working with heirs, conservatorships, professional fiduciaries as well as administrators of an estate. We look forward to hearing from you!