Thursday, January 27, 2011
Happy Valentines Day! You may now file your taxes.
Historically, homeowners seeking to take advantage of the mortgage interest deduction could file their taxes immediately to get that refund.
Not this year.
Citing tax law changes enacted in December (and a corresponding need to update their computer system), the IRS will not begin accepting returns from taxpayers claiming the mortgage interest deduction or other Schedule A itemized deductions until Feb. 14.
For those of you who send HUD-1 settlement statements to your buyers, you may want to share this information with them.
Sources: NASDAQ.com, REALTORMarney.com and TheMortgageReports.com