First time homebuyer $8,000 efile available 03/30/09

[Jesse]

ATTN: Software Developers, Return Transmitters and Authorized IRS e-file
Providers/EROs

Please be advised, returns with Form 5405 claiming the First-Time Homebuyer
Credit of $8,000 for homes bought in 2009, will be accepted electronically
starting with the 6 PM drain March 30, 2009.

Form 5405 can also be transmitted for PATS testing on March 30, 2009, for
the 4 PM drain.

The revised file specification for Form 5405 will be available on irs.gov
March 20, 2009.

[DTS]

Jesse

Thanks for posting this. I mentioned in a prior thread that I was going to post about this credit, once again. My question was to make sure we could get this credit if the home purchase was in '09 and all other thresholds are in order, but to file on the '08 return. I know the form says this, but just wanted to confirm it was OK and you did this.

Thanks again,

D

[outwest]

The masked bandits known as mortgage brokers..

are back in the saddle. One of my real estate clients came in this afternoon after an meeting at her office. A local mortgage broker was telling them to once you make an offer just fill in the address on the 5405 and get your $8,000. As soon as the check comes, you can close.

What part of "purchased" , past tense, title passed don't they get? As my client said, you can make a dozen offers but you haven't bought anything.

The IRS better exercise the reporting requirements this law permits or this will make EIC fraud look like pennies on the sidewalk.