My Real Estate Blog

State first-time buyers tax credit deadline Aug. 15

The Franchise Tax Board (FTB) recently announced it will accept applications for the California first-time home buyer tax credit through midnight on Sunday, Aug. 15, 2010.  The FTB believes it will have received more than enough applications to cover the $100 million allocated for eligible first-time home buyers.  It will continue to accept applications for the new-home portion of the state tax credit.

Due to the high volume of faxes, consumers may experience some delays and difficulties in connecting to the FTB fax number during normal business hours.  It can take several minutes or possibly up to an hour to connect and transmit the fax.  Buyers who receive a busy signal are advised to try again later. The fax number is open 24 hours a day, so consumers may fax applications during non-business hours when the line is not as busy.

Reprinted from C.A.R.