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  • 2018 President, Kevin McDonald

    I am extremely honored to serve as the next President of the Placer County Association of REALTORS. I am incredibly thankful to have the guidance of the amazing past PCAR Presidents, leadership, staff and all those who have helped to Read More
  • Honorary Member - Gloria Doze

    Gloria Doze was honored with the 2017 Honorary Member of the Year award at this years Board of Directors Installation. The Honorary Membership is an award given to a member of the Placer County Association of REALTORS who has been a member Read More
  • REALTOR of the Year - Kim Tucker

    Kim Tucker was honored with the 2017 REALTOR of the Year award at this year's Board of Directors Installation. The REALTOR of the Year award is the highest honor given to a REALTOR member of the Placer County Association of REALTORS. Read More
  • Affiliate of the Year - Dan Morasci

    Dan Morasci was honored with the 2017 Affiliate of the Year award at this years Board of Directors Installation. The Affiliate of the Year award is the highest honor given to an Affiliate member of the Placer County Association of REALTORS. The Read More
  • REALTOR Action Fund Video

    Why should you support the REALTOR Action Fund? How do your RAF contributions make a difference? Who advocates on your behalf? Watch this video to find out how your RAF contributions are used locally, statewide and nationally... Read More
  • PCAR MEMBERS MAKING A DIFFERENCE

    Did you know that in the past 5 years PCAR REALTORS have donated a total of $212,750.00 to local charities? PCAR REALTORS not only work in Placer County, they give back by volunteering their time, resources and money. For more Read More
  • PCAR Angel Tree Complete!

    PCAR members show their true colors once again! Because of your incredible generosity, 40 children in Placer County will be able to open some incredible presents on Christmas morning! Thank you for all of your continued support and desire to Read More
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CARE Vendor Fair

02 Mar 2010
 Vendor Fair was a huge success… Click here for more photos.

IRS issues new guidelines on obtaining home buyer tax credits

01 Mar 2010
The Internal Revenue Service (IRS) recently issued new guidelines and clarified documentation that taxpayers must submit to successfully obtain the federal tax credit for home buyers. MAKING SENSE OF THE STORY FOR CONSUMERS
  • The federal tax credit for home buyers was extended and expanded late last year.  Qualified first-time buyers may be eligible to receive a tax credit of up to $8,000 on homes purchased before April 30, 2010.  Repeat buyers may be eligible for a tax credit of up to $6,500. Click here for more information about the federal tax credit for home buyers, including eligibility requirements.
  • To receive the tax credit, home buyers must comply with the IRS’s documentation requirements, including a fully executed IRS Form 5405.  On the form, which is available on the IRS’s Web site, taxpayers provide information supporting their claim of eligibility, such as income and home purchase date.
  • The IRS also requires home buyers to submit a copy of the closing or settlement statement that proves the transaction took place.  The IRS previously said that the statement should show “all parties’ names and signatures, property address, sales price, and date of purchase.”  However, since closing or settlement statements vary by state, and in some cases the form does not include both the seller’s and buyer’s signatures, the IRS has revised this requirement.  As long as the closing or settlement statement conforms to prevailing local practices, the IRS will accept it.
  • One stipulation for repeat buyers is they must provide documentation they lived in their former property for a consecutive five years out of the previous eight years.  Accepted documentation may include property tax records, hazard insurance records, or copies of annual mortgage interest statements filed with their federal taxes.
To read the full story, please click here.

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