It passed!! Home Buyer Tax Credit of 2009
Nov 8th 2009
Categories: In The News, Real Estate News
hiGreat news on the real estate front. On Friday, November 6th, the Worker, Homeownership and Business Assistance Act of 2009 was signed into law by President Obama.
The three main points are outlined below:
- Extends deadline for purchasing and closing on a home. An eligible taxpayer must buy, or enter into a binding contract to buy, a principal residence on or before April 30, 2010 and close on the home by June 30, 2010.
- Additionally, long-time homeowners buying a replacement principal residence may also claim a homebuyer credit of up to $6,500.
- Raises the income limitations for homeowners claiming the credit.
For additional information, click here and you will be re-directed to the IRS webpage outlining the features and qualifications.
