Archive for the ‘Income Taxes’ Category
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.
Posted in 
New tax credit: Current Homeowners Tax Credit
Prospective buyers who already own a home should wait a brief time to buy Congress is working on a bill that expands the credit beyond first-time purchasers, giving a $6500 credit to buyers who’ve owned a home for five of the last eight years. This would apply to homes bought after enactment, which should occur by mid-November. For more information on how this credit works please contact me at 937-642-2524.
Tags: TAX CREDIT: First-time Home Buyer Credit Extended
First-time home buyers won’t have to act by November 30 to get the credit. Congress will extend the $8,000 credit for several months, well into 2010, so the first-timers will not have to hurry up enclosed their home purchases by November 30. The credit will be extended through April 30, 2010. As long as the home purchases under contract by April 30, 2010 taxpayers have until June 30, 2010 to close to get the credit. Contact me at 937.642.2524 to get your credit/refund A.S.A.P.