Theresa Runyan shared the following content from some IRS e-mails she received. If you need more info, go to http://www.irs.gov/.
- If you have access to a computer and the Internet you may be eligible to prepare and file your 2008 federal tax return electronically — for free. Free File is an easy way to file your taxes and get your refund in half the time. Filing electronically is fast, accurate and secure. Free File, a form of e-file, is a free federal tax preparation and electronic filing program for eligible taxpayers developed through a partnership between the IRS and the Free File Alliance. The Alliance is a group of private-sector tax software companies. Since Free File’s debut in 2003, a total of more than 24 million returns have been prepared and e-filed through the program. Free File offers two options. The first, “full service” Free File includes 20 different software options that can assist taxpayers with an Adjusted Gross Income of $56,000 or less in 2008 to e-file their federal tax returns for free. That means 70 percent of all taxpayers can take advantage of tax software that will help them complete their returns through the Free File program. Three companies are offering their products in Spanish. This year, the IRS and its partners are offering a new option, Free File Fillable Forms, which opens up Free File to virtually everyone, even those whose incomes exceed $56,000.
- Most taxpayers who received the economic stimulus payment last year will not be able to claim the Recovery Rebate Credit on their 2008 federal income tax returns. A small number of taxpayers who did not receive the full economic stimulus payment last year may be eligible to claim the Recovery Rebate Credit on their 2008 federal income tax return. Figuring the Recovery Rebate Credit incorrectly or entering inaccurate information will delay the processing of your tax return and any refund due. You do not have to pay back your Stimulus Payment and the payment is not taxable. Less than an estimated 3 percent of taxpayers are eligible. The vast majority of taxpayers are not eligible to receive the Recovery Rebate Credit. Did you have a major life change? If so, you may be eligible to claim the Recovery Rebate Credit. Some of the major factors that could qualify you for the Recovery Rebate Credit include: your financial situation changed dramatically from 2007 to 2008, you did not file a 2007 tax return, your family gained an additional qualifying child in 2008, you were claimed as a dependent on someone else’s return in 2007, but cannot be claimed as dependent by someone else in 2008 and any Recovery Rebate Credit amount will be included in your refund. The IRS will figure the credit for you and include it in your refund or put it toward any taxes owed.
Preview Properties.com's Blog 
12/10/08 – News of the Day
December 10, 2008I don’t know these guys but they would fit right in this evening at the our event, wouldn’t they? I lifted the photo from the website http://www.uglychristmassweaterparty.com/.
Don’t forget to come prepared for the happy hour scheduled for tonight (5:30 to 7:30 open to agents, staff and invited friends). Bring a potluck appetizer to share and a “white elephant” gift to re-gift. And wear your craziest holiday sweater – we’ll have a few prizes to award. This event benefits our LACASA holiday efforts.
“As mentioned in the meeting today, the REO Properties Utility Services form 340 was updated 12/4/08. Chris has updated the form on the website. Look for it on RC transaction desk sometime next week at the latest – Realcomp could not give me a firm date. Thank you” – Lisa Bullock
“If you’re using the Transaction Desk, remember to print out a “Fax Back Cover Sheet” and take it with you on your Listing Appointments and Buyer Appointments. Explain to your Clients how the Form works and what a time saver it is for both them and you during a Transaction. I also include it in my packages that I drop off to other Agents when negotiating a deal. Even if the other Agent does not use the Transaction Desk, they are happy to use the “Fax Back Cover Sheet”. Just explain to them how it works and what to do with it.” – Theresa Runyan
Looking forward to the potluck tomorrow! see you then! – Rhiannon McCarty
If you have news to share, you may post a comment below to share with everyone. If you post a comment on this blog between Monday 8:00 a.m. and Wednesday noon your name will be entered into a drawing for a $25 gift card, to be awarded at the Preview Properties.com agent & staff & friends happy hour this. You’ll have to supply your name for this contest, it would be impossible to give a gift to “anonymous”…Val Potts got a little competition yesterday.
This note comes from Scott Bohlen: “After I returned from the REOMac conference, I shared with you that the lenders were focused on workouts, short sales and anything else that keep them from owning the home. The projection was that short sales would increase by 100% in 2009 compared with 2008. The letter which will be e-mailed to you shortly certainly supports the information that was provided at the conference. The systems for the lenders to handle short sales is going to continue to improve and the need to complete them will continue to increase. As you are prospecting please consider a focus on short sale opportunities as it will be an opportunity for us to increase our business in 2009. Thanks to Dick Kerschbaum for sharing the letter with us.”
Posted in Comments, Community Events, Dick Kerschbaum, Foreclosure, Lisa Bullock, Rhiannon McCarty, Short Sales, Theresa Runyan, Val Potts | Leave a Comment »