Form IT-140 Schedule HEPTC-1 Homestead Excess Property Tax Credit - West Virginia

What Is Form IT-140 Schedule HEPTC-1?

This is a legal form that was released by the West Virginia State Tax Department - a government authority operating within West Virginia. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is Form IT-140 Schedule HEPTC-1?A: Form IT-140 Schedule HEPTC-1 is a tax form used in West Virginia to claim the Homestead Excess Property Tax Credit.

Q: What is the Homestead Excess Property Tax Credit?A: The Homestead Excess Property Tax Credit is a credit that provides relief to eligible homeowners in West Virginia who have paid excess property taxes on their primary residence.

Q: Who is eligible for the Homestead Excess Property Tax Credit?A: Eligibility for the Homestead Excess Property Tax Credit is based on income and age requirements. To be eligible, you must be at least 65 years old or permanently and totally disabled, and your household income must be below a certain threshold.

Q: How do I claim the Homestead Excess Property Tax Credit?A: To claim the Homestead Excess Property Tax Credit, you need to complete Form IT-140 Schedule HEPTC-1 and attach it to your West Virginia income tax return (Form IT-140).

Q: Is the Homestead Excess Property Tax Credit refundable?A: No, the Homestead Excess Property Tax Credit is not refundable. It can only be used to reduce your West Virginia income tax liability.

Q: What documentation do I need to claim the Homestead Excess Property Tax Credit?A: You will need to provide documentation such as proof of age or disability, proof of income, and proof of property tax payments to claim the Homestead Excess Property Tax Credit.

Q: Are there any filing deadlines for claiming the Homestead Excess Property Tax Credit?A: Yes, the deadline to claim the Homestead Excess Property Tax Credit in West Virginia is the same as the deadline for filing your state income tax return, which is usually April 15th.