If you're looking to take advantage of the home buyers tax credits, time is short!
Last November, Congress extended and expanded the home buyers tax credit portion of the economic stimulus through April 30, 2010. That leaves just about 2 1/2 months left to purchase a home. Unlike the prior deadline where the transaction had to closed by the expiration date, this time it only needs to be under contract by the April 30th deadline with closing occurring no later than June 30, 2010.
To recap, there are two tax credits available -- an $8,000 tax credit for first-time home buyers and a $6,500 tax credit for repeat buyers for homes priced up to $800,000. Income caps are $125,000 for single buyers and $225,000 for married couples.
Let me know if you need for info!
2 comments:
Are there any new tax credits for re-financing?
thanx!
-bob
I do not think so, certainly a good question for your accountant. Here is the link for the First Time Homebuyer Credit, from IRS site; might be worth a look.
http://www.irs.gov/newsroom/article/0,,id=204671,00.html
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