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Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010. The American Recovery and Reinvestment Act of 2009 (ARRA) (Pub. L. 111–5 (text) (PDF)), nicknamed the Recovery Act, was a stimulus package enacted by the 111th U.S. Congress and signed into law by President Barack Obama in February 2009.
Included a first-time home buyer refundable tax credit for purchases on or after April 9, 2008 and before July 1, 2009 equal to 10 percent of the purchase price of a principal residence, up to $7,500. Phased out the credit for taxpayers with incomes over $75,000 ($150,000 for joint returns).
A first time homebuyer tax credit offers a direct reduction of the amount of income tax you owe. The U.S. federal government offered a tax credit program to first-time homebuyers (including those ...
The first-time homebuyer credit is a new tax credit included in the recently enacted Housing and Economic Recovery Act of 2008. For homes purchased in 2008, the credit operates like an interest ...
Besides extending the $8,000 tax credit for first time home buyers until April 2010, the Act also provides a $6,500 tax credit for current homeowners who purchase a home between November 6, 2009 and end of April 2010. [7] The Act also increases the income limits to qualify for the credit.
Prospective homebuyers were deeply disappointed when the $15,000 tax credit for homebuyers was removed from the final version of the economic stimulus package and replaced with a much more modest ...
WASHINGTON -- Buying a home is about to get cheaper for a whole new crop of homebuyers -- $6,500 cheaper. First-time homebuyers have been getting tax credits of up to $8,000 since January as part ...
The first time home buyer tax credit has officially been extended. If you're an existing home owner you may also qualify for the tax credit if you're planning on buying a new house! Check out this ...