Archive - November 26, 2009

The First-Time Homebuyer Credit Expansion

The First-Time Homebuyer Credit Expansion

The following information was released by the IRS on 11/25/2009 as Tax Tip 2009-13:

If you are in the market for a new home, you may still be able to claim the First-Time Homebuyer Credit. Congress recently passed The Worker, Homeownership and Business Assistance Act Of 2009, extending the First-Time Homebuyer Credit and expanding who qualifies.

Here are the top 10 things the IRS wants you to know about the expanded credit and the qualifications you must meet in order to qualify for it.

  1. You must buy – or enter into a binding contract to buy a principal residence –
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