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i am wanting to know when they are going to do the tax andvances for the holidays this year i havent heard anything about it yet. Thank You

I am planning on buying a home next year. I want to take advantage of the $8000 credit. If I need a co-signer who owns a home, can I still get it as a first time buyer? Does anyone know

I see all these comments about the holiday advances and I was thinking as long as you are able to get the money before december 24th there is no reason to be upset about the later date of availability. just be thankful that H&R Block is doing this for customers,

I am planning on purchasing a new laptop for my son, a fulltime college student, as well as a home computer for him to use. He currently has to use machines at the library. Is there a credit for this since he's a student? Thanks

I am currently claiming 1 married and they are not taking any federal taxes out will that effect my taxes by getting a smaller refund.

my income is $95,000 for year of 2009, I just bought a house and closed it 11/1/2009. Under the current law, I won't get 8k credit, but with the extension rule, would I get 8,000 credit because under the new rule, they increased the limit to 150,000 for single. Do I have to close the house after 11/30 deadline for the new rule to be effective? thanks,

Does any one know how I can get a form to amend my 2008 tax return to get the first time homeowner credit for 8000.00?

Be careful, read all the fine print of your "Peace of Mind" agreement. We received paperwork from IRS identifying a mistake that H&R made. I sent it to my representive and she apoligized and processed the claim, almost $900.00 Now the KC corp office is dening the claim because a June letter was sent out that we never received, but because I was honest and shared the copy of the June letter in my Sept notice my claim was denied. So read the fine print, they have used this as a way to get out of paying what they promised to pay for and it was a mistake that should have not been made in the first place. Typical corp response, money 1st customer service later. I WAS a 15+ year customer.

If I'm a first time home buyer but closed on my home in March 2008; will I still be elgible for the new $8000 tax credit?

For all the people wanting to know about the Emerald Advance from previous years- well I just talked to my local H&R Block and she told me they were going to start it December 7 and you can call and make and appointment starting December 2. FYI-I live in Biloxi,MS

I am closing on my home on Nov. 5. Want to know if I get the $8,000 credit, is that going to affect my tax return at all?

I'm on unemployment and since it's not that much I don't get any taxes taken out, do I still file for taxes and is this going to hurt me alot since I do the EIC? Should my boyfriend file for me and my children since i'm not working?

I purchased my 1st. home and close the end of Feb. 2007. Missing the 1st. home buyer credit by 39 days. You had to have closed on your home by April 2007 ??? With the new pkgs. do I qualify for a credit yet ? I really don't think it's fair, I was a 1st. time home buyer and left out because of 39 days ? How is that right ? Wishing for the credit too !

I called h&r block and was told Dec. 2 for the emerald advance line of credit for the holiday's will start Dec. 2 and more details will be given out after Nov. 10. I wish it was around Thanksgiving as well. But really what can you do.

Question, I have never filed a return with h&r block,but I'm hearing about this emerald thing for christmas. I made well over $10,000 this year and I was wondering if I could get this credit thing

I really do not know y everybody complaining about the holiday loan last year it was around thanksgiving. This year it's after Thanksgiving all we have to do is wait a week and ahalf for December. I wish it will be around Thanksgiving to.I have four kids to do shopping for. And for my bad luck the doctor took me out of work because i have breast cancer. So we all have to be patience and just wait hopefully the will do it sooner and we can all go shopping like always.Have and lovely holiday

Hi My wife and I got married in May. She owned a condo which we sold in August. We bought a house in September with me ( a first time homebuyer) being the primary buyer on the new house. I want to know if we will be able to get the 8k tax credit seeing I am the primary owner. I have heard yes and no depending on who I talk to. Thanks for your help

I live in Florida. When will the advance become available for this 2009 year?

When will the Advance that usually comes available in November, come available this year (2009)?

I have question? I have a daughter that is 19 and in high school.. and a 17yr son thats just getting out of foster care and moving back home and a 20 yr son who lives at home with 2 sons that live with thier mom. who can i claim for unearned income?

thats not write no one can get the emerald loan until december.why did they change it from the middle of november to december.i have been getting the loans every year it was always in november.i dont no why they change it when its to close from christmas.that loan helps me for thanksgiving and xmas for my children.

I need to know what day do the christmas loan start because I keep hearing different things so can u tell me the real date???????????

I would like to know if your going to offer the advance on our income tax this year? Does any one know for sure??

When can we apply for a loan in order to have money for black out day after Thanksgiving ? are u guys going to make available anytime soon before 11-26-2009 ? please let us know thanks

I've seen it stated that the Christmas/Emerald Line of Credit/Advanced partial refund (it's got a lot of names) will begin early December. I'm wondering why so late? Typically it's offered in mid-November, right about when the "shopping season" begins. December seems a little late to me.

I've seen it stated that the Christmas/Emerald Line of Credit/Advanced partial refund (it's got a lot of names) will begin early December. I'm wondering why so late? Typically it's offered in mid-November, right about when the "shopping season" begins. December seems a little late to me.

tammy123: In prior years, H&R Block offered a product called the Emerald Advance Line of Credit in early December; this is not a refund loan product. Check back with us early December for more information. Gerri W, H&R Block Tax Pro

I've seen it stated that the Christmas/Emerald Line of Credit/Advanced partial refund (it's got a lot of names) will begin early December. I'm wondering why so late? Typically it's offered in mid-November, right about when the "shopping season" begins. December seems a little late to me.

Ladyd36: Are you asking about the Emerald Advance Line of Credit? In prior years, H&R Block offered a product called the Emerald Advance Line of Credit in early December; this is not a refund loan product. Check back with us early December for more information. Gerri W, H&R Block TaxPro

Ladyd36: The good news is that 95% of Americas taxpayers will benefit from at least one of the tax breaks. Unlike the 2008 Economic Stimulus, there will not be stimulus rebate payment checks in 2009 for the majority of Americans. While some of the relief will be paid this year, the majority of the relief for an average taxpayer is most likely to come next year. Gerri W, H&R Block TaxPro

debbie12: The good news is that 95% of Americas taxpayers will benefit from at least one of the tax breaks. Unlike the 2008 Economic Stimulus, there will not be stimulus rebate payment checks in 2009 for the majority of Americans. While some of the relief will be paid this year, the majority of the relief for an average taxpayer is most likely to come next year. Gerri W, H&R Block TaxPro

Christine: Your work-related education expenses may also qualify you for other tax benefits, such as the tuition and fees deduction and the Hope and lifetime learning credits. You may qualify for these other benefits even if you do not meet the requirements listed above. Also, keep in mind that your work-related education expenses may qualify you to claim more than one tax benefit. Generally, you may claim any number of benefits as long as you use different expenses to figure each one. Gerri W, H&R Block TaxPro

leslie73: In prior years, H&R Block offered a product called the Emerald Advance Line of Credit in early December; this is not a refund loan product. Check back with us early December for more information. Gerri W, H&R Block TaxPro

mroberts: In prior years, H&R Block offered a product called the Emerald Advance Line of Credit in early December; this is not a refund loan product. Check back with us early December for more information. Gerri W, H&R Block TaxPro

motherofthree: In prior years, H&R Block offered a product called the Emerald Advance Line of Credit in early December; this is not a refund loan product. Check back with us early December for more information. Gerri W, H&R Block TaxPro

heidi perew: : In prior years, H&R Block offered a product called the Emerald Advance Line of Credit in early December; this is not a refund loan product. Check back with us early December for more information. Gerri W, H&R Block TaxPro

lisasmiley: In prior years, H&R Block offered a product called the Emerald Advance Line of Credit in early December; this is not a refund loan product. Check back with us early December for more information. Gerri W, H&R Block TaxPro

debbie32: : In prior years, H&R Block offered a product called the Emerald Advance Line of Credit in early December; this is not a refund loan product. Check back with us early December for more information. Gerri W, H&R Block TaxPro

joelgoetz: Qualified medical expenses are those incurred by the following persons. You and your spouse. 1. All dependents you claim on your tax return. 2. Any person you could have claimed as a dependent on your return except that: 3. The person filed a joint return, 4. The person had gross income of $3,500 or more, or 5. You, or your spouse if filing jointly, could be claimed as a dependent on someone else's 2008 return. For this purpose, a child of parents that are divorced, separated, or living apart for the last 6 months of the calendar year is treated as the dependent of both parents whether or not the custodial parent releases the claim to the child's exemption. You cannot deduct qualified medical expenses as an itemized deduction on Schedule A (Form 1040) that are equal to the tax-free distribution from your HSA. Gerri W, H&R Block TaxPro

I have a question. I have 3 kids and you can only claim 2 on your taxes. I'm getting a divorce from my husband and I have boyfried that has lived with me for the past year. My boyfried has helped support my kids during this time. So my question is can he claim one of my kids even though they are not his?

jaydeedee: As long as you making monthly payments, and you have a mortgage on this home, you can get up to 10% credit up to $8000. maximum credit. You will need to use form 5405 and the 1040, not 1040A. Gerri W, H&R Block TaxPro

mia614: In prior years, H&R Block offered a product called the Emerald Advance Line of Credit in early December; this is not a refund loan product. Check back with us early December for more information. Gerri W, H&R Block TaxPro

dnita31: In prior years, H&R Block offered a product called the Emerald Advance Line of Credit in early December; this is not a refund loan product. Check back with us early December for more information. Gerri W, H&R Block TaxPro

al881: Homeowners going green should also check out a tax credit designed to spur investment in alternative energy equipment. The residential energy efficient property credit, equals 30 percent of what a homeowner spends on qualifying property such as solar electric systems, solar hot water heaters, geothermal heat pumps, wind turbines, and fuel cell property. Generally, labor costs are included when calculating this credit. Not all energy-efficient improvements qualify for this tax credit. For that reason, homeowners should check the manufacturers tax credit certification statement before purchasing or installing any of these improvements. The certification statement can usually be found on the manufacturers website or with the product packaging. Normally, a homeowner can rely on this certification. The IRS cautions that the manufacturers certification is different from the Department of Energys Energy Star label, and not all Energy Star labeled products qualify for the tax credit. Eligible homeowners can claim this credit of up to $1500. when they file their 2009 federal income tax return. Because this is a credit, not deduction, this may increase a taxpayers refund or reduce the tax he or she owes. An eligible taxpayer can claim this credit, regardless of whether he or she itemizes deductions on Schedule A. Use Form 5695, Residential Energy Credits, to figure and claim these credits. A draft version of this form is available now on IRS.gov. Gerri W, H&R Block Tax Pro

Community Members - In prior years, H&R Block offered a product called the Emerald Advance Line of Credit in early December; this is not a refund loan product. Check back with us early December for more information. Denise @ H&R Block

amerijust: Adult recipients of Social Security benefits, Supplemental Security Income (SSI) cash payments, and Railroad Retirement benefits, as well as individuals who receive disability or pension benefits from the Department of Veterans Affairs will receive a one-time payment of $250. To be eligible, a qualifying benefit payment must be received during November 2008, December 2008, or January 2009 (the 3-month period ending the month prior to the month of enactment). An individual who received more than one type of benefit payment in the three-month period will only receive one $250 payment. The Secretary of the Treasury will automatically begin making economic recovery payments to eligible individuals as soon as possible, but no later than 120 days after February 17, 2009. Payments may be electronically transmitted to eligible individuals if their benefit payments are electronically transmitted. No payments will be made after December 31, 2010. Gerri W, H&R Block TaxPro

i live in ky i want to know when are they doing the loans from your taxes

dhantz: If any of the following describe you, you cannot take the credit, even if you buy a new home: Your income exceeds the phase-out range. This means joint filers with MAGI of $170,000 and above and other taxpayers with MAGI of $95,000 and above. You buy your home from a close relative. This includes your spouse, parent, grandparent, child or grandchild. You do not use the home as your principal residence. You sell your home before the end of the year. You are a nonresident alien. You are, or were, eligible to claim the District of Columbia first-time homebuyer credit for any taxable year. (This does not apply for a home purchased in 2009.) Your home financing comes from tax-exempt mortgage revenue bonds. (This does not apply for a home purchased in 2009.) You owned a principal residence at any time during the three years prior to the date of purchase of your new home. For example, if you bought a home on July 1, 2008, you cannot take the credit for that home if you owned, or had an ownership interest in, another principal residence at any time from July 2, 2005, through July 1, 2008. Gerri W, H&R Block TaxPro

debra: Do you mean an Emerald Card? Only if you have a paid tax event from last year or a previous LOC that you paid off. This begins December 2, 2009. Gerri W, H&R Block TaxPro

barbaraian: : Do you mean an Emerald Card? Only if you have a paid tax event from last year or a previous LOC that you paid off. This begins December 2, 2009. Gerri W, H&R Block TaxPro

eureka: Do you mean an Emerald Card? Only if you have a paid tax event from last year or a previous LOC that you paid off. This begins December 2, 2009. Gerri W, H&R Block TaxPro

hope: If you have a paid tax event from last year or a previous LOC that you paid off. This begins December 2, 2009. Gerri W, H&R Block TaxPro

hope: NOT all children are considered qualifying children. Any qualifying child you use to claim the EITC must have a valid social security number. Your child is your qualifying child if the child meets three tests. The three tests are: 1. Relationship, 2. Age, and 3. Residency. You can use up to two qualifying children to claim the Earned Income Tax Credit.

dtemps: Medical expenses include insurance premiums paid for accident and health or qualified long-term care insurance. You may not deduct insurance premiums for life insurance, for policies providing for loss of wages because of illness or injury, or policies that pay you a guaranteed amount each week for a sickness. In addition, the deduction for a qualified longterm care insurance policy's premium is limited. Refer to Publication 502 , Medical and Dental Expenses. You may not deduct insurance premiums paid by an employersponsored health insurance plan (cafeteria plan) unless the premiums are included in Box 1 of your Form W-2 (PDF). Gerri W, H&R Block Tax Pro

elvia green: You can generally get information about your refund 72 hours after IRS acknowledges receipt of your e-filed return, or three to four weeks after mailing a paper return. Have a copy of your tax return handy. You will need to provide the following information from your return: Your Social Security Number (or Individual Taxpayer Identification Number) Your Filing status (Single, Married Filing Joint Return, Married Filing Separate Return, Head of Household, or Qualifying Widow(er)) The exact whole dollar amount of your refund Gerri W, H&R Block TaxPro

tashatot05: Some of the provisions of the law primarily affect individualsMaking Work Pay Tax Credit. This tax credit means more take-home pay for many Americans. To make sure enough tax is withheld from their pay, taxpayers can use the IRS withholding calculator. See Making Work Pay for more. First-Time Homebuyer Credit Expands. Homebuyers who purchase in 2009 can get a credit of up to $8,000 with no payback requirement. ALERT: Potential buyers need to close on a home by Nov. 30, 2009, to qualify for this tax credit. Money Back for New Vehicle Purchases. Taxpayers who buy certain new vehicles in 2009 can deduct the state and local sales taxes they paid or other taxes and fees they paid in states with no sales tax. Education benefits. The new American opportunity credit and enhanced benefits for 529 college savings plans help families and students find ways to pay higher education expenses. Enhanced Credits for Tax Years 2009, 2010. Find details on the earned income tax credit and the additional child tax credit. Increased Transportation Subsidy. Employer-provided benefits for transit and parking are up in 2009. Up to $2,400 in Unemployment Benefits Tax Free in 2009. Individuals should check their tax withholding. $250 for Social Security Recipients, Veterans and Railroad Retirees. The Economic Recovery Payment will be paid by the Social Security Administration, Department of Veterans Affairs and the Railroad Retirement Board. Energy Efficiency and Renewable Energy Incentives. See what individuals can do to reap tax rewards. Health Coverage Tax Credit. The credit increases from 65 percent to 80 percent of qualified health insurance premiums, and more people are eligible. Gerri W, H&$ Block TaxPro

heimlette: If you have a paid tax event from last year or a previous LOC that you paid off. This begins December 2, 2009. Gerri W, H&R Block TaxPro

Does anyone know about Joplin Missouri if and when the early loan will be available

i live in chicago il an today i called hr block and made an appoitment for nov 24 for the holiday loan. so its earlier then everyone says

We live in Florence,AL. When will our office begin holiday loans on our emerald card for 2009?

brianbittle: : Do you mean an Emerald Card? Only if you have a paid tax event from last year or a previous LOC that you paid off. This begins December 2, 2009. Gerri W, H&R Block TaxPro

Micvitale: Yes, H&R Block can help file your amended return. This needs to be paper filed. The cost would have to be determined at the time it is finished. The check would come for the IRS. You need to talk to a tax professional. Gerri W, H&R Block TaxPro

Melissa mains: Do you mean an Emerald Card? Only if you have a paid tax event from last year or a previous LOC that you paid off. This begins December 2, 2009. Gerri W, H&R Block TaxPro

holcomblori@yahoo.com: Do you mean an Emerald Card? Only if you have a paid tax event from last year or a previous LOC that you paid off. This begins December 2, 2009. Gerri W, H&R Block TaxPro

My sister just called the H&R Block office in Michigan and she just made her appointment. The loans start December 2nd an you can get a loan up to $1000. Hope this helps everyone...I wish it was sooner too..

really!when does the christmas loan go in affect?

I just called my local office and they said it will be Dec.2 before they will start doing the holiday loans this year

waiting for the christmas loan

I was thinking the Christmas loan was $500 but I cant remember.

Does anyone remember what the loan was last year?

just want to know when H and R block is planning on starting the christmas loan. need to know so i know what and when i can buy gifts for my three children.

usually the loans start the week before thanksgiving, i hope to god we do not have to wait til dec. i love shopping on black friday, and im trying to take my fam to branson for thankgiving.

When is the christmas loan

when do the holiday tax start in November. People need to file because either their job end or they receiving unemployment.

I'm wonder how is the stimulus package helping us when we are not benefit from it like last year when we receive a check.

dec 2 for the holiday loan...whats up with that??? Last year it in the middle of November cause I had it for black friday...this is going to screw up everything if they don;t do it early.

I can't sleep tonight. You know how it works when you have too much on your mind and it all has to do with this stuff. I have two questions if anyone can help? 1.) I am a single mom of two boys and I just signed up to go back to school for my masters in education. I can't help but feel I have made a grave mistake. Does the stimulus apply to a masters degree? 2.) What is this Christmas loan everyone is talking about? Thanks guys!

I am amazed at the number of people who don't know that if you receive a tax refund, you have goofed. You don't want a refund!!! If you receive a refund, it only indicates you have overpaid your taxes and given the government a free loan. Always plan to pay additional when you file your tax return.

I qualified for the early xmas refund last year will I qualify this year if things did not change with my income situation? What will be the maximum amount?

When is the early loan thing? Hope its in November!

like the rest of you i called about xmas loan i was told dec.1st, and 2 be sure to bring in current paystub,but to call back @ end of november to be sure of an exact date

Wow!! It looks like we can take an advance anywhere from 4 to 6 weeks from now... YEAH!!!

I am just wondering if were going to get a stimulus for us for the 2009 taxes and idf so when?

does anyone know if there is a christmasn loan this year

Every one seems be asking the same question?

I was told that the holiday loans aren't starting until December 2nd so I hope the one who said Nov 15th is right.

i would like to know about the christmas refund and how much u can get i have 2 kids what is the min payment and the max early refund u can get.

I called the main office and was told that the date of the holiday loan will be know after the 10th of Nov.

For a Health Savings Account, can I use the savings to pay for my 20 year old's medical and dental assistance. I don't claim him as a dependent any longer, but I still help him with health expenses.

I need someone who understands the energy credits that are awarded to people who change their heating system over, water system over, etc. I'm tired of sitting and watching them read the manuals, I can do that!. I'm in MA. Recommmendations appreciated al

i called hr r block cov. area i was told christmas loan dec.1st. wk. ( to who said 11/15 i hope u rite.)ill call agasin friday and ask a diff. hr.block . thanks

Do Owners of habitat for Humanity qualify for First Time Buyers Credit?

Hi I live in Hammond,IN, I called my local H&R Block and was told the holiday loan starts 11-15-09

who are the people on retirement to get the $250 stimulus check and when will they receive this money?

Is it true that if we buy our house contract for deed from my husbands parents this year, we aren't eligible for the first time home buyers credit? Because we are buying from family?

I want to know also when does it start.

I am a single parent an I didnt get the christmas loan last year because of some reason they gave me I would be so glad if I can get some help this year its been so hard.REE

when do chrismas loans starts

what do i need to do to get a christmas loan

CHRISTMAS LOANS START 1ST. WEEK OF DEC.

i have 3 children of my own an my husband and i are approved for eic for 2 of are kids why caint we claim all 3 of are kids?and we also have coustudy of are 3 minor nephews can we claim the other 4 children?

i have a question i wanted to know if you were doing the christmas loans this year?

I have a question about medical deductions, are the medical premiums paid for employee healthcare coverage eligable to be included in itemized medical deductions.

how long do it take to get your refund on your amended tax return

Thanks. That is great info

what is the talk about the stimulus package when does that take in affect is it for people that have work this year

when can i apply for the holiday loan?

Can you get a loan against you 2010 tax return? I thought my brother did something like this a few years ago.

I have a few questions. Can HR Block help me file my ammended return, what would it cost approx, and will you cut a check at HR Block or will I be mailed from the IRS. Also the other mortgage holder found out this year he owes for 2007 can he apply and will they automatically deduct from his 4k or will be have to notify them and make an agreement? Thank you

bwebb9625: Call H&R Block at 1-800-HRBLOCK (1-800-472-5625) Gerri W, HRBlock Tax Pro

mandimae8: Clients in the field bring in their pay stubs and get a loan based on their approximate refund , however this year they can only get it if they had a paid tax event from last year that they paid off. This year there will be no new clients without tax experience from last year or beyond. Gerri W, H&R TaxPro

salsabor: "Unemployment compensation" received by a taxpayer is taxable income with one exception. Up to $2,400 of unemployment received in 2009 can be excluded under the American Recovery and Reinvestment Act of 2009. The exclusion applies only to 2009. Unemployment compensation includes payments received under a law of the U.S. or a state that is in the nature of unemployment compensation (85). The taxpayer should receive a Form 1099-G reporting the amount paid. Report the taxable amount on the appropriate line of page 1 of Form 1040 (Line 19 for 2008, 2007, and 2006). Gerri W, H&R Block TaxPro

ljohns: If your efiling, January 15, 2010. Gerri W, H&R Block TaxPro

mrkillings: You can go into the IRS website, www.irs.gov, or you can call the IRS at 1-800-829-1040. Hours of Operation: Monday Friday, 7:00 a.m. 10:00 p.m. your local time (Alaska & Hawaii follow Pacific Time). Gerri W, H&R Block TaxPro

histbut: First-time homebuyers may be able to take advantage of a tax credit for homes purchased in 2008 or 2009. The credit: Applies to purchases that close after April 8, 2008, and before Dec. 1, 2009. Applies only to homes used as a taxpayer's principal residence. Reduces a taxpayer's tax bill or increases his or her refund, dollar for dollar. Is fully refundable, meaning the credit will be paid out to eligible taxpayers, even if they owe no tax or the credit is more than the tax owed. The credit is claimed using Form 5405, which you file with your original or amended tax return. First-time homebuyers who purchase a home in 2009 can claim the credit on either a 2008 tax return, due April 15, 2009, or a 2009 tax return, due April 15, 2010. The credit may not be claimed before the closing date. But, if the closing occurs after April 15, 2009, a taxpayer can still claim it on a 2008 tax return by requesting an extension of time to file or by filing an amended return. Gerri W, H&R TaxPro

wannie: As a person with a disability, you may qualify for certain tax deductions, income exclusions, and credits. Talk to a tax professional, they can help you though it. Gerri W, H&R Block TaxPro

bwebb9625:, What is the Emerald Advance Loan? Question came from comments below. Clients in the field bring in their pay stubs and get a loan based on their approximate refund , however this year they can only get it if they had a paid tax event from last year that they paid off. This year there will be no new clients without tax experience from last year or beyond. Gerri W, H&R TaxPro

when does christmas loans start?

Will you be able to get advance on 2009 taxes this year>

csgomes: The credit phases out for individuals with modified adjusted gross income (MAGI) between $75,000 and $95,000 ($150,000$170,000 for joint filers) for the year of purchase. The credit is completely phased out for an individual with a MAGI equal to or more than $95,000 ($170,000 for joint filers).To determine the allowable credit, subtract the limit threshold of $75,000 ($150,000 in the case of a joint return) from your MAGI. Divide the difference by $20,000 to get your reduction ratio. Multiply your initial credit by your reduction ratio to arrive at the credit reduction amount. Subtract the credit reduction amount from the initial credit to arrive at the allowable credit amount. Example: Facts Filing Status = Single, MAGI = $80,000, Purchase Price = $80,000, Initial Credit = $7,500 (limited to the lower of $8,000 (10% of Purchase Price) or $7,500) ...................................................................................................................................... $80,000 MAGI..................$75,000 Limit Threshold.....=....$5,000 Excess Over Threshold $..5,000 Excess.................$20,000 Max. Excess..........=.....25% Reduction Ratio $..7,500 Initial Credit....x......25% Reduction Ratio........=.....$1,875 Credit Reduction $..7,500 Initial Credit........$1,875 Credit Reduction.....=.....$5,625 Allowable Credit Gerri W, H&R Block TaxPro

sbetancourtaz: You must close on a new home by Nov. 30, 2009, to qualify for this tax credit. With the deadline approaching, potential homebuyers should consult with their real estate professionals to ensure they have enough time left to close on a home. The credit may not be claimed before the closing date. No. You may not claim the credit in anticipation of a purchase that has yet to happen. Until you have finalized the purchase of your home, which for most purchasers occurs at the time of the closing, you do not qualify for the credit. Gerri W, H&R Block TaxPro

Kelvin Phan: The Health Coverage Tax Credit (HCTC) is a refundable tax credit that pays 80% of qualified health plan premiums for certain trade-affected workers, retiress, and their families from May 1, 2009 through December 31, 2010. The HCTC is a unique tax credit that individuals can receive either monthly as their health plan premium becomes due or yearly on their federal tax rerturn. The HCTC pays a percentage of qualified health plan premiums for eligible individuals. Individuals are notified by mail when they become eligible. Gerri W, H&R Block TaxPro

heidec: You cannot purchase your new home from a close relative including spouse, parent, grandparent, child or grandchild, though the purchase of a home from a sibling (brother or sister) does not disqualify you from claiming the credit; purchases from step-relatives are allowed for the credit as well . Gerri W, H&R Block TaxPro

Can sum1 answer if H&R block will do the before christmas loans this year...2009? Thx....

After watching many of your commercials, I tried you for the 1st time which will also be the last. Your charge was too high & I was supposed to have my return E-filed & direct deposited to my account. I have found out today that IRS mailed my check. Not a happy customer.

letecha - See my response to Community Members below. Thanks! Denise @ H&R Block

when can i start fileing in 2010

are we able to get a holiday loan this year n when?

I was wondering are 1st time homeowners entitled to the full $8000 if they have a agr of <$75000 or would you only do 10% of the purchase price.

Community Members - In prior years, H&R Block offered a product called the Emerald Advance Line of Credit in early December; this is not a refund loan product. Check back with us early December for more information. Denise @ H&R Block

i got an advance on my tax return last year can i get one this year and when

Could you tell me, if we take out money from our 401K to help purchase our first home, will this income from the 401 be added to our annual income? Right now we meet the requirments of our income, to qualifiy for the $8000 tax credit but with the 401K money added we will be over. Could you please answer his for me. Thank you so much.

IS THE LONE ADVANECE BEING OFFERD THIS YARE IF SO WHEN

I AM LIKE ALL THE REST WILL YOU BE GIVING ADVANCES THIS YEAR AND WHEN.

will h&R Block be offering advance for Christmas and when can I apply

Just wanted to know if H&R Block will be offering the advance this year for christmas and can you apply for the advance in November and what you need to qualify for it

Will we be able to apply for the christmas loan this year and if so when can we start applying?

Does any know if you can sign off on the $8000 tax credit for a new home purchase and use it as part of your down payment at closing?

WHAT IS GOING TO HAPPENS WITH PEOPLE THAT ARE UNDER UNEMPLOYMENT INSURANCE FOR ALMOST 2 YEARS AND THEY RUN OUT ALL THEIR EXTENSIONS AND HAVE TO FILE TAXES THIS YEAR,AND THEY ARE SINGLE OR HEAD OF HOUSEHOLD,WITH NO KIDS AND ONLY HAVE PARENTS AS A DEPENDENTS?

What is the Emerald Advance Loan? Question came from comments below.

IRS auditing 2007 taxes what should be our game plan?

is this heath saving program , is similar to HRA ? you can put the pre tax dollars in the earning account for medical expense fund , than make distribution when you need with out 10% penalty from IRS is that right , i think is no such thing is exist in USA may be just gimmick the medical used to get peoples joins the bandwagon team ?

Will be be able to apply for the christmas loan this year and if so when can we start applying?

I was also wondering if HR block will be offering the loan towards your tax refunds this year starting in November?

hi i was wondering when do the christmas loan start this year

I heard this was not available if the purchase was from a family member. Is this true? If I downsize and sell my current home to my son for market value, he cannot claim the credit?

I think that the second First Time Home Buyers Credit,is aweful for people that took the credit last year! This year people are getting $500.00 more credit, and they don't have to pay it back! This is not fair!!!!!!!!!!!!!!! I think they should make it fair for everyone, and give last years people a $500.00 credit this year, and also make it so we don't have to pay ours back either. This makes me mad!

hello, just wondering when the emerald line of credit/christmas loan will be done this year?

my question to you all is,can anyone apply for the 1st time home byers tax berfore they buy the home. So they can use the money to hlep with the closing cost.

hi im wondering when is the date for the emerald line of credit this year?

i was wondering like other about holiday loan

I wondering like may others are you going to offer the loans again this year that you did before christmas? When can you apply?

I was wondering if you were still offering the before christmas loan and when you can apply?

I was just wondering about the before Christmas loan? If you all will be doing that this year and when will it take place.

when will h&r block offer emerald advance loans

are you still offering the christmas rals this year?

Can we get a loan before christmas like last year and if yes when can we apply.

are we getting the loans before christmas like last year

our son lost his job in dec. 2008, and has lived with us since, he has not worked since then. Can we claim him on our taxes?

dixierose: the stimulus bill did NOT reduce withholding for state taxes. It only reduced federal withholding from people's wages and people's pensions. The IRS recommends that pension payers double check what they expect to owe in federal taxes at the end of 2009. If it looks as if they may owe federal taxes, they may want to make additional federal estimated payments or adjust their federal withholding on Form W-4P. Gerri W, H&R Block TaxPro

krodman: The credit is claimed using Form 5405. Your tax professional can help you with this. Gerri W, H&R Block TaxPro

keke_1478: The credit is claimed using Form 5405. Your tax professional can help you with this. Gerri W, H&R Block TaxPro

glendon: If youre talking about federal income taxes, then the answer is no. As a consumer, you wont owe taxes to the Federal government for the credit you received as a result of the Cash for Clunkers trade-in. The official program website, Cars.gov . However, the question of whether a consumer must pay State or local sales tax on the amount of the CARS program credit depends on the sales tax law of each State or locality. Remember, this is not an income tax. Its a State sales tax. Gerri W, H&R Block TaxPro

SS: The American Opportunity Tax Credit, which is really an enhanced Hope credit, provides eligible taxpayers in 2009 and 2010 with a credit up to $2,500 of the cost of tuition and related expenses paid during a taxable year. You will need to spend at least $4,000 to get the full credit, however. For 2009 and 2010, the Hope credit applies to the first four years of college, rather than just the first two years. The Hope credit is a per-student credit (meaning theres no per return maximum), and it can be claimed each year the student has qualifying expenses. Taxpayers receive a tax credit based on 100% of the first $2,000 of qualified expenses paid during the tax year and 25% of the next $2,000 ($500). Forty percent of the credit is refundable, which is good news for lower-income students and families paying for college. The credit begins to phase out for taxpayers with adjusted gross income in excess of $80,000 for individuals and $160,000 for couples filing jointly. Gerri W, H&R Block TaxPro

eb51wr:You may not get a payment if you owe back taxes or child support. The IRS is applying your payment to back taxes, child support, student loans and other debts. Gerri W, H&R Block TaxPro

Art: Yes, he can. Gerri W, H&R Block Tax Pro

avvaa:The client MIGHT be able to take the AOTC IF 1) This is his first undergraduate degree, and the courses are NOT for an advanced degree like a Masters or a MBA. 2) He's in either his first, second, third, or fourth academic year of getting his undergraduate degree 3) And he isn't claiming the LifeTime Learning Credit for the same tuition. 4) And the client is making less than $80,000 a year if not married or $160,000 a year if married. If all of those things are in place, then he can take the credit. Gerri W, H&R Block TaxPro

Tamintexas: It depends on if your landlord is a relative. If not, then yes, you qualify, but if you are related to the landlord, then you do not. Gerri W, H&R Block TaxPro

I've used this program for 3 years and have reached the end of my rope. When you back up and try to change things, it sometimes takes on a mind of its own. State vs. Fed.... why cant you pull over info for my home office? You're asking the same info, I need to go back and recalc or look up the fed form, than start over with some wizard. After I finish my battle with this year, I can say I wont be back. I think $300 with a local CPA will save me time and frustration. That's a bargin!

I am disabled, how are my taxes for 2009 going to be effected. I recv ssd, ipers, disability check?

I am wondering if H&R Block is going to offer the early partial refunds like they did last year and the year before. I can't find any information on it. Can you please help?

I have been searching "first-time homebuyer rebate" but cannot find HOW TO APPLY, must a homebuyer re-file 2008 taxes or just file 2009 early?

good works: Students in Midwestern disaster areas. The following rules apply only to students attending an eligible educational institution in the Midwestern disaster areas in the states of Arkansas, Illinois, Indiana, Iowa, Missouri, Nebraska, and Wisconsin. See Table 3-2 near the end of chapter 3 in Publication 970, Tax Benefits for Education, for a list of counties. Hope credit increased. The Hope credit for students in Midwestern disaster areas is 100% of the first $2,400 of qualified education expenses and 50% of the next $2,400 of qualified education expenses for a maximum credit of $3,600 per student. See chapter 2 of Publication 970 for more information. Lifetime learning credit increased. The lifetime learning credit rate for students in Midwestern disaster areas is 40% of qualified expenses paid, with a maximum credit of $4,000 allowed on your return. See chapter 3 of Publication 970 for more information. Definition of qualified expenses expanded. The definition of qualified education expenses for the education credits is expanded for students in Midwestern disaster areas. See chapters 2 and 3 of Publication 970 for more information. Gerri W, H&R Block TaxPro

sharon schaller: The new law increases the energy tax credit for homeowners who make energy efficient improvements to their existing homes. The new law increases the credit rate to 30 percent of the cost of all qualifying improvements and raises the maximum credit limit to $1,500 for improvements placed in service in 2009 and 2010. You may be able to file an amended return to get your credit now. Gerri W, H&R Block TaxPro

charles: H&R Block does not have credit cards. Gerri W, H&R Block TaxPro

mccorry: You need to calculate it both ways and see which would work for you better. Gerri W, H&R Block TaxPro

gary: Call the number on the back of the card. Gerri W , H&R Block TaxPro

sweetning56: If your total income is less then $75,000. and you are single, you may be eligible for the credit. Any home purchased as the taxpayers principal residence and located in the United States qualifies. You must buy the home after April 8, 2008, and before Dec. 1, 2009, to qualify for the credit. If you owned a home in the past 3 years, you are not eligible. Gerri W, H&R Block TaxPro

sprtmms: Yes you do Gerri W, H&R Block TaxPro

cpatterson7: You will need to report your entire income as the money from the 401K is taxable. The IRS says: The amount of the credit begins to phase out for taxpayers whose modified adjusted gross income is more than $75,000 or $150,000 for joint filers. Gerri W, H&R Block TaxPro

Tigger: It is really up to you as how you want to file. Sometimes the benefits are better if you file joint as in the following example: To claim the Earned Income Tax Credit (EITC), your filing status must be single, head of household, qualifying widow or widower, or married filing jointly. You cannot claim the EITC if your filing status is married filing separately. Everyone's situation is different. Please, check with your tax pro. Gerri W, H&R Block Tax Pro

Jessica23: The IRS ruling is as follows: If, within 36 months of the date of purchase, the property is no longer used as your principal residence, you are required to repay the credit. Repayment of the full amount of the credit is due at that time the income tax return for the year the home ceased to be your principal residence is due. The full amount of the credit is reflected as additional tax on that year's tax return. Form 5405 and its instructions will be revised for tax year 2009 to include information about repayment of the credit. In other words, that credit has to be paid back if you move out of the house before the three years are up. The $4000. would have to be paid by you as he is no longer on the on the deed. For him to pay you the $4000. that is personal between you and him. Gerri W, H&R Block TaxPro

joshheid:The Housing and Economic Recovery Act of 2008 provides a new refundable tax credit for individuals who are qualified first-time homebuyers of a principal residence in the United States. For 2008, the credit applies to a principal residence purchased by the taxpayer after April 8, 2008, and on or before December 31, 2008. Homebuyers who qualify are allowed a one-time credit against their income tax for the year of purchase. Unlike some past credits, this one must be repaid over a 15-year period. As a result, the new tax credit works like an interest free loan. You take the full credit on your 2008 return, and then repay the credit amount in equal payments over 15 years, with no interest charges For example, if a taxpayer is allowed a $7,500 first-time homebuyer credit in 2008, the taxpayer must recapture the credit amount by adding $500 (which is 6 2/3% of $7,500) to his income tax liability each year for 15 years, beginning in 2010. Acceleration of recapture If a taxpayer disposes of the principal residence for which a first-time homebuyers credit was allowed (or ceases using it as taxpayer's and spouse's principal residence) before the end of the 15-year recapture period, the remaining credit repayment amount is added to the income tax liability of the taxpayer for the year of sale or cessation of use. Exceptions to recapture In the case of a sale of the principal residence to an unrelated person, the increase in tax due to accelerated recapture is limited to the amount of gain (if any) on such sale. For purposes of calculating gain, the adjusted basis of such residence shall be reduced by the amount of the first-time homebuyer credit allowed, to the extent not previously recaptured. In the case of an involuntary conversion, recapture is not accelerated if a new principal residence is acquired within a 2-year period. No amount is recaptured after the death of the taxpayer. Gerri W, H&R Block TaxPro

WHEN WILL WE BE ABLE TO GET A LOAN ON OUR 2009, TAXES?

I filed an amendment to 08 taxes to get the 8k tax credit because my wife and i just bought a house. How do we check the status of the return and also is it true that it takes 14 to 16 weeks?

how do I file for the 8000 dollar credit and how much does it cost to do this and what forms do i need

Hmm... i'm kind of confused about this

How do I file for the first time home buyer stimulus?

I keep hearing that the IRS considers the "cash for clunkers" incentive taxable as income but I can't find anything on the IRS.gov web site. What's the answer?

I am 66 year old widow,due to the stimulus?the taxes the state of Il takes from my pension check have been cut down considerably,Do I have to repay all these taxes next year?

The original Hope Credit could be claimed only two years per student, and also for only the freshman and sophomore years. The American Opportunity Tax Credit can be applied to all 4 years of college education, but does it still have the two-year limitation on claiming this (including any previously claimed Hope Credit)?

this is a great resource tool for me

I am looking to buy a home for the first time, I currently pay child support and owe back arrearages. This means that evry year my income tax return goes directly to her. Will the $8000 "refund" end up in her hands? I refuse to contact HRblock and pay $20 TO ASK THEM THIS QUESTION. Although after reading through all of these blogs I stll did not find an answer. Any help would be appreciated.

Question: My friend and I are buying a house together. We both signed the purchase contract and we'll both be on the title as joint tenants. However he won't be on the mortgage because he has bad credit. Can he still claim the first time homeowners credit?

American Opportunity Tax Credit - if I take an on line certification program offered by a leading university can I claim this credit? It is in my work related field. Specifically I am interested in the AOTC. ???

How does the Hope tax credit work for the Midwestern Disaster areas? I have 2 children in college in central Indiana.

I'm wondering if i qualify for the first time homebuyer tax credit . Our home will be paid on Sep,24 2009 . We bought it from our landlord one on one . No loans ,no realtors, no intrest. My husband and I paid $18,000.00. Do you think we qualify ? If so do i just wait till we do our taxes in'09 ? If you could plaese let me know i would appreciate it . thanks . p.s yes, it is our first time to buy a home.

I need to know if I would qualify for the energy efficient credit if I replace the air cond/furnance in a home that I have rented for the last ten years and plan to buy soon.

We just bought a new roof a few months ago & wondering if I have to wait 'til the end of year for the stimulas money & put that on my taxes or can I turn something in now & get the stimulas money for my new roof now.

hi there how are u doing i always file my tax from h&r block im trying to found out if i can get credit card with guys