Are You an $8,000 First Time Home Buyer?
The Worker, Homeownership, and Business Assistance Act of 2009 has extended the tax credit of up to
$8,000 
for qualified
first-time home buyers purchasing a principal residence. The tax credit now applies to sales occurring on or after
January 1, 2009 and on or before
April 30, 2010. However, in cases where a binding sales contract is
signed by April 30, 2010, a home purchase
completed by June 30, 2010 will qualify.
For sales occurring after November 6, 2009, the Act establishes income limits of $125,000 for single taxpayers and $225,000 for married couples filing joint returns.
View VideoThe income limits for sales occurring on or after January 1, 2009 and on or before November 6, 2009, are $75,000 for single taxpayers and $150,000 for married taxpayers filing joint returns.
The following questions and answers provide basic information about the tax credit. If you have more specific questions, we strongly encourage you to consult a qualified tax advisor or legal professional about your unique situation.
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