Back in February, I posted an article regarding the First Time Home Owner’s Credit. It gave a pretty thorough breakdown of the program requirements.  While doing my daily browsing to stay abreast on various topics, I ran across an article that’ s alarming to me!  This money is available, but only for qualified individuals.  No, the government isn’t giving away any free money or money that you were entitled to that someone didn’t tell you about…….

First Time Home Buyers still have time to take advantage of this first time refundable Home Owner’s Credit.  You have until November 31, 2009 to complete the closing on your new home.  Of course there are some requirements, view here, but you may be able to receive up to an $8,000 refundable credit.

If you have already filed your 2008 tax return, you may amend your taxes to include this credit. It will be refunded to you or you can include this information on your 2009 Return and it will be refunded if eligible.

Per the IRS, the credit is 10 percent of the purchase price of the home, with a maximum available credit of $7,500 ($8,000 if you purchased your home in 2009) for either a single taxpayer or a married couple filing a joint return, but only half of that amount for married persons filing separate returns. The full credit is available for homes costing $75,000 or more ($80,000 if purchased after Dec. 31, 2008, and . 1, 2009).

The IRS also states that you must have bought the home after April 8th, 2008 but before December 1, 2009 to qualify for the credit.  If you have a home constructed, the first day you occupy the home is the date that is considered as your purchase date.  You can’t claim the credit before the sale and purchase is completed at closing.  Furthermore, you aren’t even eligible if you have owned a principal residence three years prior to this purchase.

J. Russell George, Treasury Inspector General for Tax Administration, questioned the eligibility of some 100,000 claims out of the 1.5 million who have sought to take advantage of the $8,000 tax credit economic stimulus package enacted last February. incorporated in the

He said claimants include those who could possibly be illegal immigrants and that 580 people seeking $4 million from the first-time home buyer credit were under the age of 18. The youngest taxpayers receiving the credit were 4 years old, his office said.

George said more than 19,000 people filed 2008 tax returns or amended returns claiming the credit for homes they had not yet purchased. Those claims amounted to $139 million and it was not clear that the IRS planned to go back to verify that those purchases actually took place, he said.

He said his office had identified another $500 million in claims, by some 74,000 taxpayers, where there were indications of prior home ownership.

Yes, times are hard.  The Recession is real, but there is still no reason to legally obtain funds that you are not entitled to receive.  You see, Taxpayers suffer in the long run because of your poor decisions.  You may get this money, but you are risking fines, penalties, imprisonment, and your credibility forever!! Congress is debating whether to extend this credit deadline date, because of these fraudulent act. This could affect the individuals that really do qualify!

IF IT SOUNDS TO GOOD TO BE TRUE, IT IS! Ask yourself these questions:

• Why are we the only area that’s receiving this money?
• Why haven’t I seen this claim advertised by legitimate news sources?
• Why would the government front me a large sum of money in advance without wanting present or future verification?

These were just a few questions that would appear to be logical to the average person!  Even if you do not think logically, you still have an OBLIGATION TO RESEARCH INFORMATION TO THE BEST OF YOUR ABILITY!!

When there is any doubt or you just need confirmation about anything IRS related, go to www.irs.gov to research.  If you don’t find the answer you are looking for, call a representative Toll Free @ 800-829-1040 anytime Monday through Friday from 7:00 a. m. to 10:00 p. m. Eastern Standard time.  You will be able to speak directly with a Representative that will be more than happy to answer your questions!

Source 1

Source 2

Pic Source

• Combining Finances When Getting Married. Just the other day, Green Panda Treehouse wrote up a great post discussing joint accounts, budgeting and married couples. And while I gave her my thoughts on it for her post, it reminded me that I wrote a post in May of 2007 about what we did after we got......
• Best Personal Finance Reads of March 2009 I love the month of March, not only because it is my birthday month, but also because the weather starts to change for the better and we finally get a hint of spring.  To close out the month, I'd like to share with you my favorite reads of the month......
• How To Make Fast Free Money From Online Gambling by David_Turner How To Make Fast Free Money From Online Gambling Who doesn't want to make money gambling for free? Someone said that the best things in life are free and I guess that includes gambling. Nothing compares to the rush of blood in your head and excitment in......
• Tossing away free money from your employer? If your employer offers a 401(k) with matching, that's exactly what you're doing. We were chatting with friends this weekend and the topic got steered to money. (Not by me, actually!) We talked about: Starting up an ING Savings Account Ways to cut down on the little expenses that eat......
• Get Your Lending Club Loan Documentation Early For a Few Days of Free Money I was reading about LendingClub loans (I forget where, sorry) and I came across the following statement from Lending Club made to a lender on LC. Our loans expire two weeks after posting. This expiration date is the borrowers actual payment date, however some loans will fund early. Here is......

So, I am out and about and I randomly hear conversations while standing in line about some Individuals not understanding where they fit into this equation of the Economic Stimulus Bill that President Obama signed on Tuesday, February 17, 2009. I especially hear the Elderly conversing about them having to tap into their savings to make ends meet. They are paying more money for health care and prescription costs. Yet, they aren’t receiving an increase in their fixed incomes. Some Elderly couples income are too much to receive assistance, but not enough to fully make ends meet; some are even having to apply for Food Stamps for the first time in their lives.

If you are Elderly, Disabled, or considered to be living in Poverty as more than 37 million and counting Americans are you will be happy to know that…….

President Obama allotted billions to help aid the Poverished during these times ! I have created a small list below to describe some of what this plan includes for the poor:

• Depending upon the State that you reside in, more funds for TANF( Temporary Assistance for Needy Families) will be available, because he allotted $3 billion dollars in Emergency Funds! ( LIKE SOME INDIVIDUALS NEED MORE MOTIVATION NOT TO LOOK FOR A JOB!!!!)
• If you lost your job and could no longer afford health benefits or just NEVER had a job , have no fear, $87 Billion Dollars was allotted for Medicaid! ….And you mean to tell me that some Elderly people who had no choice but to work and was highly illiterate have to pinch pennies by no choice of their own (some of them)  when some Bomquisha’s pinch pennies to go get her HERR did and to park a Lexxus in front of a housing project? What is wrong with that pic?
• Most Bomquisha’s Individuals that receive Food Stamps will get more to sell!!!
• Supplemental Income recipients (Disabled and Elderly) will receive a ONE time payment of $250 while Bomquisha’s continue to get $241 per child TanF!
• If you are receiving unemployment or may receive it in the near future, your benefits will be extended, oh, and you get a $25.00 per week increase! When you go to file your taxes in 2009, the first $2400 of that money will not be taxed.
  
• There will be an expansion of Earned Income Credit (EIC), a new refundable tax credit for workers, and the Child Tax Credit.

I really have nothing against Individuals that need help, but for those that take advantage of the system…..WE PAY FOR IT, the one’s who make too much to qualify, but too little to belong.

• Senate approves jobs bill to stop teacher layoffs [/caption] WASHINGTON – Congress is moving rapidly just weeks before the start of the school year to speed billions of dollars in emergency education aid to states in hopes of reversing the layoffs of tens of thousands of teachers. Some $10 billion in aid to school districts is set to......
• Obama's $787 Billion Economic Stimulus Plan: The Least You Need To Know President Obama signed a modified economic stimulus bill into law yesterday, a plan with a $787 billion price tag.  The purpose of this article isn't to debate the merits of the stimulus plan, however, but to examine what the average taxpayer can expect to get out of it.  The direct......
• We Got Our Economic Stimulus Check! Photo Credit: Pascal Vuylsteker We finally got our economic stimulus check yesterday! During my lunch break, I'm depositing into the bank. Once it clears, we're sending the whole amount $1,200 toward paying down the car loan. I'm excited about it. My husband is "happy for me". It's hard to......
• How Much Does A Dog Cost? [/caption]My wife and I have been thinking about getting a dog for over a year now. It seems that whenever we think about it seriously, we have an important trip planned. (Case in point, I'm writing this flying somewhere over Kansas - I think). We've started to begin the search......
• Beyond the Emergency Fund: Preparing for Economic Collapse The following article is the third in a five-part series, Beyond the Emergency Fund. Previous posts discussed ways to store water for emergencies, and how to store food long term. It's hard for most Americans to imagine what a full economic collapse may look like. Unfortunately, many other countries are......

If you are one of the many of Homeowners who are not First Time Home Buyers, but you are seeking to save money in the future………..

President Obama signed the Economic Stimulus Bill on Tuesday, February 17, 2009. In this Bill he increased the 2008 First Time Home Buyer’s Credit from $7500 to $8,000.  He made the 2009 $8,000 tax credit refundable. You can familiarize yourself with my post on this REFUNDABLE CREDIT if you haven’t already!

Now, I know that as time passes, we need to make repairs and adjustments around our homes. Some of the homes that we buy aren’t purchased brand new and are still in need of some form of renovations or maybe you just want to change a few things up for a new look. Well, whether your home is in need of repair or you just want to modernize your home, you may want to keep these points in mind as they are included in the stimulus package (More than $42 Billion dollars was allocated in this bill for Energy-Related Investments):

• You can receive up to $1500 or a 30% tax credit when you purchase high efficiency residential
  • Heat Pumps
  • Air Conditioners
  • Furnaces
  • Add additional Insulation to your attic
  • Replace drafty windows

Now, I know you all may react like, “Is this incomplete?”, but this is all that I could find at the moment. I am continuing to research..If anyone else has any other factual information, please email it to me kj@diverseneeds.com. I also will note that some of these home improvements will cause a decrease in your utility bills monthly. So, you will receive a savings there as well!

• My Thoughts On The $100 Billion Dollar Fiscal Stimulus Package. I think it's a load of crap - I won't hold anything back here. G.W.'s (and now the Democrats as well) brilliant plan to give out around $100 billion dollars to "stimulate the economy" will do nothing of the sort. There are of course the people that will view it......
• 2009 Federal Energy Tax Credits What you may know as the $700 billion dollar bailout is actually called the Emergency Economic Stabilization Act of 2008. Much of this act probably made you feel upset and even alienated. One of the positive things that is coming from this Emergency Economic Stabilization Act of 2008, however, is......
• Tax implications of the stimulus bill A jumbo-jet-sized $787 billion stimulus package was signed into law on Tuesday in the US by President Obama.  Since it's tax season here are some of the tax-related implications of the stimulus package: A tax credit of $400 per worker or $800 per couple, coming over the next two years,......
• Opinion: Realtors the Biggest Benefactor of $15,000 Homebuyer Tax Credit I've posted two articles so far on the proposed $15,000 Homebuyer Tax Credit: The first outlines my initial discoveries... My second outlines my deep digging... A lot of posts around the web have talked about how the credit will get home purchases moving again, which it will. What they don't......
• Get an $8,000 Tax Credit for Buying Your First Home in 2009 Last Saturday, Both houses of Congress passed the American Economic Recovery and Reinvestment Act of 2009. There were a lot of provisions in the bill that will provide funding to education, telecommunications and infrastructure. In the bill, there were also a number of tax credits. Each individual will receive a......

• Dillyeo.com Deals Of The Day As most of you know, I don't do a lot of shopping. But when I do, I like to get a bargain, and I usually find them online. I recently discovered a fun site that offers one item a day at a rock bottom price. Dillyeo.com appeals to me for......
• Reader of the day, Paul Simon, Born at the right time Gordon tells me this is one he thinks a lot about. For Gordon and the rest of us... I'm making Gordon retroactive-Reader of the day, since I hadn't started that category yet. You have a clever way of getting one to read your blog. You are so busy on this......
• My Life in and Out of the Rough (The truth behind all that bull**** you think you know about me) - John Daly with Glen Waggoner Out of all the characters the game of golf has produced, few are as vitriolic or misunderstood as John Daly. Many have compared the man to a car wreck, it's simply impossible to want to turn away. Luckily, his book has the same effect on the reader and this is......