act: What You May Not Hear About The Housing And Economic Recovery Act of 2008
- 07/30/08 11:47 AM
The Housing and Economic Recovery Act of 2008 was signed today and that could mean you or someone you know may qualify for up to a $7,500 Refundable Tax Credit. But... Be Informed There are some strings attached to this tax credit that you may not be aware of: (Click here for A simple overview of how the $7,500 Refundable Tax Credit for first time homebuyers works) 1. First, the biggie: You may have to pay this tax credit back! I can hear you saying, "What!?" Let me explain: Think of the Refundable Tax Credit as a 0% loan from the … (3 comments)
act: The Housing and Economic Recovery Act of 2008 - How First Time Home Buyers can get a $7,500 Refundable Tax Credit
- 07/30/08 11:44 AM
The Housing and Economic Recovery Act of 2008 was signed today and that could mean you or someone you know may qualify for up to a $7,500 Refundable Tax Credit. A simple overview of how it works You are eligible if: You are a first time home buyer (meaning neither you nor your spouse has owned a principal residence (home, townhouse, condo, etc.) in the last 3 years. You purchase(d) a home "on or after April 9, 2008, and before July 1, 2009". Your Modified Adjusted Gross Income is less than $150,000 (for married taxpayers) or less than $75,000 (for single … (0 comments)
The Housing and Economic Recovery Act of 2008 was signed today and that could mean you or someone you know may qualify for up to a $7,500 Refundable Tax Credit.
;)
;)
;)
