Homebuyer Tax Credit Extended and Expanded

So this past Friday, President Obama signed the bill extending the First-Time Homebuyers Tax Credit to June 30, 2010 making the new deadline for being under contract April 30, 2010 with a closing date no later than June 30, 2010.

Key improvements to the bill are the increase in income limits. For homes purchased after November 6, 2009 and on or before April 30, 2010, single taxpayers with incomes up to $125,000 and married couples with incomes up to $225,000 qualify for the full tax credit.


For up to date information on eligibility and requirements, please take a look at these websites:

http://www.irs.gov/newsroom/article/0,,id=204671,00.html

http://www.federalhousingtaxcredit.com/glance.php