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The first-time homebuyer tax credit no longer exists; the U.S. government offered this program for first-time homebuyers from 2008-2010.
Prospective homebuyers were deeply disappointed when the $15,000 tax credit for homebuyers was removed from the final version of the economic stimulus package and replaced with a much more modest ...
This only applies to first-time homebuyers. [47] $4.7 billion: Excluding from taxation the first $2,400 a person receives in unemployment compensation benefits in 2009. $4.7 billion: Expanded earned income tax credit to increase the earned income tax credit – which provides money to low income workers – for families with at least three ...
The first-time homebuyer credit is a new tax credit included in the recently enacted Housing and Economic Recovery Act of 2008. For homes purchased in 2008, the credit operates like an interest ...
It appears Uncle Sam will keep propping up the still shaky real estate market for months to come. The Senate last night voted to extend the $8,000 first-time home buyers tax credit, and the House ...
Besides extending the $8,000 tax credit for first time home buyers until April 2010, the Act also provides a $6,500 tax credit for current homeowners who purchase a home between November 6, 2009 and end of April 2010. [7] The Act also increases the income limits to qualify for the credit.
Included a first-time home buyer refundable tax credit for purchases on or after April 9, 2008 and before July 1, 2009 equal to 10 percent of the purchase price of a principal residence, up to $7,500. Phased out the credit for taxpayers with incomes over $75,000 ($150,000 for joint returns).
Adding insult to injury, around 950,000 homebuyers who claimed the first-time homebuyer tax credit for 2009 will need to return the money. The Inspector General for Tax Administration announced ...
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