Business Assistance Act of 2009
November 15, 2009 by: The Tax ManThe Worker, Homeownership, and Business Assistance Act of 2009 (2009 Worker Act) extends the first-time homebuyer credit (FTHBC), which was due to expire after November 30, 2009, to qualified purchases of a principal residence on or after April 9, 2008, and before May 1, 2010. In addition, the 2009 Worker Act allows a reduced credit for long-time residents who purchase a new principal residence; creates purchase price, age and dependency limitations; extends the waiver of FTHBC recapture through 2010; eases rules to allow military families to claim the FTHBC; and increases phase-out amounts.
