SPECIAL EDITION: Home Buyer Tax Credit Extended and Expanded!|
On Nov. 6, President Obama signed into law new legislation that gives first-time home buyers more time to qualify for the $8,000 tax credit and creates a new $6,500 tax credit for certain repeat buyers. It also increases the income limits to qualify for the full credit to $125,000 for single taxpayers and $225,000 for married couples.
The new tax credits apply to homes that have a signed sales contract by April 30, 2010 and are settled no later than June 30, 2010.
More information and answers to frequently asked questions about these two tax credits can be found at www.federalhousingtaxcredit.com.
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