Give Me Back My Money!
If you were one of the home owners who sold your home between January 1st of this year through March 3rd you most likely paid WAY TOOOO MUCH to Uncle Sam for your Grantor’s Tax. You can read about it more in this previous article that I wrote called “So Long Grantors Tax”
How much? Try 5 times too much!
The good news is that you have a refund coming. How do you collect it?
Here is the time table….
- Clerks of Courts will receive funds from NVTA no later than May 1.
- Clerks have until May 23 to get the funds to the settlement agents (Where you signed your papers).
- Settlement agents have 90 days from receiving the funds to get them back to the seller. No later than August 22.
- If sellers didn’t use a settlement company, a system will be set up through the Circuit Court for them.
If you are a little anxious for the money as I would be, I would stay on top of the settlement company to ensure a quick refund.
For more info check out: Loudoun.gov/clerk
Related Articles:
What The VA Supreme Court Did Today That Gives Sellers A Reason To Dance!
So Long Grantors Tax- Huge Update
