Tax practioner and Notary since 1980.
Serving clients all over the USA.
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~~What is an enrolled agent? An enrolled agent is a person who has earned the privilege of practicing, that is, representing taxpayers, before the Internal Revenue Service. Enrolled agents, like attorneys and certified public accountants (CPAs), are unrestricted as to which taxpayers they can represent, what types of tax matters they can handle, and which IRS offices they can practice before.
(I.R.S. definition)~~
Disclosure and Retention of Personal Information

Exact Tax Service does not disclose the personal information of its client without their consent to any outside party, except as required by law or as specifically requested by the client, e.g. in a mortgage letter to a broker looking for income verification. Exact Tax Service retains personal information for its clients after which it is destroyed unless otherwise instructed by the client, in which case it is disposed of as per the client’s instructions.
Historic homeownership rehabilitation credit
You're entitled to claim this credit if you:
  • rehabilitate a qualified historic home in New York State, or
  • purchase a rehabilitated qualified historic home in New York State.
A qualified historic home must be an owner-occupied residential structure (including a condominium or cooperative) listed on the State or National Register of Historic Places, or located in a state or national registered historic district and certified as being of historic significance to the district. The home must also be located in:
  • a federal qualified census tract or area of chronic economic distress, or
  • a census tract that is at 100% or below the state family median income level.
The New York State Office of Parks, Recreation, and Historic Preservation can help determine whether a building meets these requirements.
To qualify for the credit:
  • You must own and reside in the historic home in New York State in the year for which you claim the credit.
  • Qualifying rehabilitation costs for the project must be $5,000 or more.
  • You must receive preliminary approval and a Certificate of Completion from the New York State Office of Parks, Recreation, and Historic Preservation.
You may also qualify for the credit if you purchased a qualified historic home and meet certain conditions.
How much is the credit?
The historic homeownership rehabilitation credit is equal to 20% of the qualified rehabilitation expenditures. The credit cannot exceed $50,000 per taxpayer per year. A husband and wife who are both eligible to claim the credit may each claim up to $50,000, whether they file joint or separate returns.
  • If your New York adjusted gross income for the tax year is $60,000 or less and your credit is more than the tax you owe, the excess credit is refundable.
  • If your New York adjusted gross income for the tax year is more than $60,000 and your credit is more than the tax you owe, the credit isn't refundable. However, you may carry over any excess credit to the following year or years.
For additional information on claiming this credit, see Form IT-237, Claim for Historic Homeownership Rehabilitation Credit, and its instructions, Form IT-237-I.