purchase: First-Time Homebuyer Tax Credit Extended & Expanded
- 11/29/09 11:48 PM
The Worker, Homeownership and Business Assistance Act of 2009 was signed into law on November 6, 2009, and extends and expands the previously passed first-time homeowners tax credit. There are three major sections to be mentioned (for detailed information about the new law, click here). 1. Extension § The credit was set to expire on November 30, 2009. § The first-time homeowner tax credit is available for those eligible taxpayers who enter a binding home buying contract for a principal residence on or before April 30, 2010. § The eligible taxpayer must close on the home by June 30, 2010. § (2 comments)