Extended and Expanded Homebuyer Tax Credit

News for US Homebuyers - Monday November 16th, 2009 9:16amHome Buyer Tax Credit Extended and Expanded until June of 2010 and allows the homebuyer to file for tax credit of $8,000 in 2009 by amending 2008 tax return or filing 2009 tax return. Deadline for current extension requires purchase contracts to be signed by April 30,2010 and closed by June 30, 2010. An amendment by Johnny Isakson (R-GA) has removed the requirement of being a First Time Homebuyer and has raised the income caps up to $225,000 for joint filers and $125,000 for single filers. Additionally anyone who has owned a home for the past 5 years is now able to get $6500 in tax credit for a new purchase. If you need more information or would like to speak to me about taking advantage of this tax credit, contact Lynne Connor at 404-309-3300.