New Tax Bonuses for Home Buyers
The Worker, Homeownership and Business Assistance Act of 2009 was signed into law on November 6, extending the $8000 First time homebuyer tax credit for those who put a house under contract before April 30 and close before June 30, 2010.
The act also expands the credit to include a $6500 credit for current homeowners who have owned a home for any consecutive five year period in the last eight years. This last requirement is to accomodate those who may have just recently lost their homes from changes in the economy. The income limits are also changed to include those with higher incomes.
For more information, you can visit www.federalhousingtaxcredit.com or see the IRS Newsroom release here.
Tags: 6500, 8000, current homeowners, new home buyers, tax credit
This entry was posted on Wednesday, November 18th, 2009 at 9:02 am and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
