The extension of the first-time homebuyer's tax credit has been approved....

Home buyer Tax Credit Extension
Extends the $8,000 credit through June 30, 2010 (must have contract by April 30, 2010).

Expands the credit (capped at $6,500) beyond first-time homebuyers to those who have owned a home for five consecutive years within the previous eight years.

- Changes to the Homebuyer Tax Credit Law

- FAQ About the New Tax Credit Law

The above content is for informational purposes only and should not be used as a substitute for consultation with a tax advisor.

FROM FEDERALTAXCREDIT.COM "The Worker, Homeownership, and Business Assistance Act of 2009 has extended the tax credit of up to $8,000 for qualified first-time home buyers purchasing a principal residence.  It also authorized a tax credit of up to $6,500 for qualified repeat home buyers."

You can find the details on this extension and tax credit here at:  www.federalhousingtaxcredit.com