As part of its plan to stimulate the U.S. housing market and address the economic challenges facing our nation, congress has passed new legislatioin that:
** Extends the First-Time Home Buyer Tax Credit of up to $8,000 to first-time home buyers until April 30,2010.
** Expands the credir to grant up to $6,500 credit to current home owners purchasing a new of existing home between November 7, 2009 and April 30, 2010.
Here is more information about how the Extened Home Buyer Tax Credit can help prospective home buyers become part of the American dream. If you have specific questions or need aditional information, please contact a tac professional or the internal Revenue Service at 800-829-1040.
Who Qualifies for the extended Credit?
** First time home buyers who purchase homes between November 7, 2009 and April 30, 2010.
** Current home owners purchasing a home between November 7, 2009 and April 30, 2010, who have used the home being sold or vacated as a principal residenve for five consecutive years within the last eight.s
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