Archive for June, 2010
First Time Homebuyer Credit Extended
June 30th, 2010 | 
Author: “Homebuyers Assistance and Improvement Act of 2010
“First Time Homebuyer Credit & Long-Time Resident Credit extended to Sept. 30, 2010
Under current law, taxpayers that entered into a written binding contract to purchase a home prior to May 1, 2010 are eligible for the Homebuyer Tax Credit so long as the sale is completed prior to July 1, 2010. H.R. 5623, the “Homebuyers Assistance and Improvement Act of 2010,” would extend the current deadline from June 30 to Sept. 30, 2010, enabling an estimated 180,000 additional homebuyers to utilize the credit. Taxpayers that entered into a written binding contract prior to May 1, 2010 would have until Sept. 30, 2010 to complete their home purchase transactions in order to be eligible for the Homebuyer Tax Credit.
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