November 13: More Help for Would-Be Homebuyers
November 13, 2009
The new legislation, which President Obama has signed into law, extends and expands the provisions of the popular homebuyer tax credit program that was implemented earlier this year as part of the American Recovery and Reinvestment Act (the economic stimulus bill).
The new provisions will extend the homebuyer credit to thousands of taxpayers beyond the estimated 1.4 million families who have claimed it already, chiefly by making the credit available for the first time to long-term homeowners buying a replacement principal residence. A previous version of the law limited its provisions to first-time homebuyers.
For more information about the credit, go to www.irs.gov/newsroom/article/0,,id=204671,00.html
The new provisions will extend the homebuyer credit to thousands of taxpayers beyond the estimated 1.4 million families who have claimed it already, chiefly by making the credit available for the first time to long-term homeowners buying a replacement principal residence. A previous version of the law limited its provisions to first-time homebuyers.
For more information about the credit, go to www.irs.gov/newsroom/article/0,,id=204671,00.html