Wednesday, March 24, 2010

Maryland Home Buyers Should Obtain a Signed Copy of the Settement Statement

To Make Filing Tax Returns Easier for Mayland Home Buyers:
Before you leave the settlement table get a signed copy of your settlement sheet.  According to the IRS website, the IRS instructions to Form 5405 indicate the settlement sheet should show signatures of all parties. While the IRS will allow for unsigned documents that meet the requirements of local law it's a good idea to get a copy of the signed settlement sheet with all parties to the transaction.  The  IRS encourages buyers to sign settlement state prior to attaching the document on the return being filed but to be safe I would recommend getting a copy signed by all parties in the transaction to avoid any potential IRS issues regarding your tax return filing.  

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