by Linda - Your Tax Coach
Here’s another interesting article I found with some common questions about the home buyer tax credit. This is a big issue and is coming to an end at the end of April where you have to have a home under contract and close by June. Otherwise, no credit for you.
Also to get the $6500 repeat buyer credit you must have lived in your main residence 5 of the last 8 years. For the $8,000 new homebuyer credit you CAN’T have had an ownership interest in a home in the last 3 years. So if you owned after April of 2007 you’re out of luck for this credit.
Homebuyer Questions? IRS Answers
Follow my Real-Time Twitter Tax Updates Here.
by Linda - Your Tax Coach
There’s a shift happening with increased enforcement action and investigation going on into businesses with independent contractors. There’s lots of money at stake here which is why the IRS is doing this costly enforcement action.
Just in New York alone there’s “more than 31,000 instances of misclassification and assessed $11 million in unpaid unemployment taxes and $14.5 million in unpaid wages.”
That is just in 1 state. This is happening all over the country with misclassification of employees as contractors. Sometimes it’s purposeful fraud and others the employer just doesn’t know the law.
Resources:
1. U.S. Cracks Down on ‘Contractors’ as a Tax Dodge
2. Independent Contractor Crackdown Heads to Florida
Follow my Real-Time Twitter Tax Updates Here.
![Reblog this post [with Zemanta]](http://img.zemanta.com/reblog_e.png?x-id=32d0202a-0501-441e-ad8a-721181fc530f)
![Reblog this post [with Zemanta]](http://img.zemanta.com/reblog_e.png?x-id=27f92888-498a-43dc-aa5c-89e0550bbfe4)
