2008 Amended Tax Form by ryj15901

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									New Home Owner Credit
  Information To Amend Tax Returns
            Christopher Jenkins,CPA
                                                                                July 22, 2010


                                    OVERVIEW

Congratulations on the purchase of your new home! If you qualify as a first time
home buyer you are eligible to immediately claim a tax refund equal to the lower of
10% of the home purchase price or $8000.

Existing Home Owners who have lived in the same home for 5 consecutive years
out of the last 8 are eligible for a credit of $6500 for a new home purchased between
November 7, 2009 and April 30, 2010. The closing must happen by June 30, 2010

Generally you will qualify for the $8000 refund if you meet the following
requirements:
   1. No one claiming the credit and listed on the deed has owned a home or other
       primary residence (mobile home, condo, coop, trailer, houseboat) in the past
       three years;
   2. Your Income is below $145,000 if single or $245,000 if married. The amount
       of the credit is reduced if your income is over $125,000 if single or $225,000
       married. This is for purchases after November 6, 2009. The income limits
       are lower for purchases before those dates;
   3. The home is in the United States;
   4. You purchased the home after April 8, 2008 for the $7500 credit or January 1,
       2009 for the $8000 credit;
   5. You are not claimed as a dependent on another person’s return and are 18 or
       over;
   6. You are a US Citizen or Resident Alien;
   7. If married, your spouse has not owned a home in the past 3 years.

For the $6500 existing Home Buyer credit you need to meet all the above conditions
except for conditions 1 and 7 above.

If you have specific questions regarding whether you are eligible call 1-781-314-
0155 EXT 111.

If you are eligible for the credit the Internal Revenue Service will allow you to
amend your 2008 tax return. This will get you the money in 6-9 weeks.

                     HOW TO CLAIM THE CREDIT NOW

We can file an amendment to your 2008 tax return as soon as you close on the
purchase of your home. We charge a flat $75 fee to file the amendment. You can
wait to pay us until you get your refund.




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                                                                           July 22, 2010

To get started fax (781-314-0158), mail (Christopher Jenkins, CPA, 440 Totten
Pond Rd, Waltham, MA 02451) or email (cjenkinscpa@verizon.net) the following
information:
     First two pages of your 2008 tax return;
     HUD-1 Settlement Statement from your New Home Purchase. This must be
       signed by all parties;
     Two pieces of identification showing you are living at your new address
       (Utility bill, bank statement, automobile registration, drivers license)
     Signed Copy of the Memorandum Attached to This Document.
We will prepare your amended tax return and return it to you for filing within 2
Business days.

If you have any questions please call Christopher Jenkins, CPA at 877-774-0309.




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                                                                                  July 22, 2010



Memorandum
To:      Christopher W Jenkins, CPA FAX To 1-781-314-0158
From:___________________________, ________________________
Date: ___________
Re:      Federal Tax Credit Amended Tax Return



We (I) would like to request you file a 2008 Amended Tax Return Form 1040X in
connection with our purchase of a new house. We understand your services are
limited to this specific purpose and no further work is being performed or implied.

With respect to your filing we acknowledge the following:
    This house will be our primary residence. The new house address will be
       used on the amended return;
    We (I) am a first time homebuyer. Specifically no other primary residence
       has been owned by us (me) in the three years prior to this purchase;
    If married or formerly married my spouse or former spouse has not owned a
       primary residence during the past three years;
    The House is being purchased from an unrelated third party;
    We (I) must live in the house for a minimum of three years or, subject to
       certain exceptions, may be required to repay the amount of the credit;
    We (I) am not a nonresident alien;
    Our (My) Adjusted Gross Income is below the phase out limits of $170,000
       for married couples or $95,000 for other Taxpayers.

We (I) understand that if the Internal Revenue Service determines we have
outstanding tax liabilities they may offset all or a portion of this credit against those
amounts.

We understand you will invoice us for $75 with the completed return and we agree
to pay that amount within 45 days of the invoice date.

Agreed

_____________________________      ___________________________
Email:________________________Phone:___________________________
Birthdate___________________        ___________________________


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