10000 California Tax Credit: How To Apply

As of May 13, 2009 331 people have been issued their California tax credit certificate for buying a new home in California. Those 331 certificates were for $3,246,532 which means that there is still $96,753,468 left for people to claim.

That is the good news. The bad news is that as of May 13, the FTB has received  6,162 applications for $ 59,579,591 that have yet to be processed.

They are just a little backed up.

Remember: the 10000 California tax credit is on first-come, first-serve basis.

What this means to you is that if you are going to “get in line” for the California 10000 tax credit, you had better hurry.

10000 California Tax Credit: How To Apply

Here is how to apply for the 10000 California Tax Credit according to the FTB website:

Within one week (seven calendar days) after the close of escrow:

• • The seller must complete Part I of Form 3528-A, Application for New Home Credit, certifying that the home has never been occupied, and provide a copy to the buyer or escrow person.
  • The buyer will complete Parts II & III of Form 3528-A.
  • The escrow person on behalf of the seller and buyer will fax the completed Form 3528-A to FTB at 916.845.9754, and provide a copy to the buyer.
• Fax is the only delivery method that will be accepted and considered for credit allocation by FTB, as the date and time stamp on the fax will determine the order in which credits are allocated.
• Fax only one completed application per residence with all qualified buyers listed. Do not include information on nonqualified buyers. An incomplete application may delay or prevent credit allocation.
• Do not fax the application to FTB before escrow closes.
• Do not fax the application to FTB more than once. We will process the applications in the order received as quickly as possible.
• Escrow companies should only send one application per fax transmission.
• The buyer keeps a copy of the completed Form 3528-A for their records.
• The Form 3528-A is now available online as a fillable form. Simply fill in all required information, print the form, and sign. If you fill out the form by hand, please print numbers as clearly and neatly as possible using CAPITAL LETTERS and staying between the lines. The faxes can be very hard to read.

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