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The New “New” First Time homebuyer credit.
The President signed new legislation into law last month that allows a first-time homebuyer purchasing a primary residence to be eligible for a tax credit. To qualify for the tax credit, a home purchase must occur on or after January 1, 2009 and before December 1, 2009. For the purposes of the tax credit, the purchase date is the date when title to the property transfers to the home owner. Image...
March 11th, 2009 by The Tax Man
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First-time homebuyer credit
A new first-time homebuyer credit of up to $7,500 has been designed by Congress to entice middle-class taxpayers to get off the sidelines and buy their first home. The IRS anticipates that for the period that this temporary tax credit applies — for homes purchased after April 8, 2008 and before July 1, 2009 — over $13.5 billion in credits will be claimed. Image by Getty Images via Daylife As...
December 15th, 2008 by The Tax Man
