|
Tax Credit Extension May Be Extended until September 30, 2010
UPDATE Friday, June 11, 2010:
THE JUNE 30TH CLOSING DEADLINE FOR THE TAX CREDIT MAY BE EXTENDED UNTIL SEPTEMBER 30, 2010. A NEW HOUSE BILL CO-AUTHORED BY SEN. HARRY REID (D. NEVADA), SEN. CHRISTOPHER DODD (D. CONNECTICUT) AND SEN. JOHNNY ISAAKSON (D. GEORGIA).
THIS WILL ALLOW BUYERS WHO SIGNED A CONTRACT PRIOR TO APRIL 30, 2010 THREE ADDITIONAL MONTHS TO CLOSE AND STILL BE ELIGIBLE FOR THEIR TAX CREDIT.
Click on the house of money to learn more about the extension of the existing $8,000 tax credit for first time homebuyers and the expansion of the program to offer a credit of $6,500 to homeowners who have lived in their current home for at least five years and are looking to relocate.
Remember, the elibibility period is for homes purchased after November 6th, 2009 and before May 1, 2010. However, home purchases subject to a binding sales contract dated by April 30, 2010, will qualify for the tax credit provided that closing occurs prior to July 1, 2010.
THIS IS A REFUNDABLE CREDIT, NOT A DEDUCTION IN TAXABLE INCOME. IF AT THE END OF THE TAX YEAR YOU OWE $1,000 TO THE IRS, YOU WILL RECEIVE $7,000. IF AT THE END OF THE TAX YEAR YOU ARE DUE A REFUND OF $2,000, YOU WILL RECEIVE $10,000! GET THE PICTURE? CALL ME TODAY TO LEARN MORE AND ALLOW US TO FIND YOU THE PERFECT HOME.
|
