The Stimulus Bill of 2009

Is it “ FREE ” Money?

First Time Home Buyers can Claim A Credit Worth $8,000 or 10% of the Purchase Price Whichever is Less Is it “ FREE ” Money?

Scenario 1 If you expected to owe IRS $2000 without the tax credit, you would now owe only $6000 ($8000 credit - $2000 owed). Is it “FREE” Money ? * This example is First Time Home Buyers receiving the full $8,000

Scenario 2 If you overpaid your federal taxes during the year and expected a $1000 refund, you would receive $9000 ($1000 refund + $8000 credit). Is it “FREE” Money ? This example is for a purchase price of above $80,000

Do I have to Re-pay this money? Not if you live in the home for 3 years As your primary Residence It’s non-refundable after that time Is it “FREE” Money ? This example is for a purchase price of above $80,000

Other Requirements Must be a First Time Home Buyer Must earn no more than $75,000 for singles Must earn no more than $150,000 for couples Is it “FREE” Money ? This example is for a purchase price of above $80,000

Can I claim it in 2008 Tax Returns? YES “ I’ve already have filed my 2008 taxes” No worries… use IRS form 5405 and file an Amendment And receive your money this year!!!! Is it “FREE” Money ? This example is for a purchase price of above $80,000

Most Importantly PURCHASE MUST BE MADE Jan. 1 st , 2009 - November 30 th 2009 Is it “FREE” Money ?

Most Importantly Time is Running OUT!!!! Jan. 1 st , 2009 - November 30 th 2009 Is it “FREE” Money ?

Additional information can be found On IRS’s website GO TO: Prepared by: Mario Blautzik http://www.irs.gov/newsroom/article/0,,id=204671,00.html Rachel M Stroud Office: (240) 737-5000 Direct: (240) 737-2720 [email_address] www.rachelstroud.com Call Today