MOUNTAINSIDE — The Internal Revenue Service is looking for Cape May County residents who are missing 107 economic stimulus checks totaling $61,472 and 28 regular refund checks totaling $31,355 that were returned by the U.S. Postal Service due to mailing address errors.

The average undelivered stimulus payment is $575 and the average undelivered regular refund is $1120. In some instances, a taxpayer may have both an undelivered stimulus payment and a regular refund.

MOUNTAINSIDE — First-time homebuyers should begin planning now to take advantage of a new tax credit included in the recently enacted Housing and Economic Recovery Act of 2008.

Available for a limited time only, the credit:

• Applies to home purchases after April 8, 2008, and before July 1, 2009.
• Reduces a taxpayer’s tax bill or increases his or her refund, dollar for dollar.
• Is fully refundable, meaning that the credit will be paid out to eligible taxpayers, even if they owe no tax or the credit is more than the tax that they owe.

MOUNTAINSIDE — First-time homebuyers should begin planning now to take advantage of a new tax credit included in the recently enacted Housing and Economic Recovery Act of 2008.

Available for a limited time only, the credit:

Applies to home purchases after April 8, 2008, and before July 1, 2009.

Reduces a taxpayer’s tax bill or increases his or her refund, dollar for dollar.

Is fully refundable, meaning that the credit will be paid out to eligible taxpayers, even if they owe no tax or the credit is more than the tax that they owe.