Standard
Mileage Rates for 2009
Business Miles
• 55 cents per mile
Charitable Miles
• 14 cents per mile
Medical Miles
• 24 cents per mile
First Time Home Buyer Credit
Per the Internal Revenue Service, the American Recovery and Reinvestment Act of 2009 expanded the first-time homebuyer credit by increasing the credit amount to $8,000 for purchases made in 2009 before Dec. 1.For home purchased in 2009, the credit does not have to be paid back unless the home ceases to be the taxpayer's main residence within a three-year period following the purchase.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.
http://www.irs.gov/newsroom/article/0,,id=205416,00.html
and
http://www.irs.gov/newsroom/article/0,,id=204672,00.html
Car Allowance Rebate System
Consumers may be eligible for a $3,500 to $4,500 discount on purchase of a new qualifying fuel efficient vehicle. Program has been extended until November 1, 2009 (or until the authorized funds are gone).
http://www.cars.gov
|