Obama Signs First-Time Homebuyer Tax Credit Extension

President Obama today signed the Home Buyer Tax Credit. However, details are still sketchy, and it may be several days before certain provisions are clarified. The following Christian science monitor article contains a link to a National Association of Realtors (NAR) summary of the program.

President Barack Obama signed an extension of the homebuyer tax credit’s closing requirements, giving homebuyers an extra three months to complete home purchases initiated on or before April 30.

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Home Buyer Tax Credit Expansion Heads to Obama. It gives up to $8000 for first time buyers (defined as not having owned a home for the past three years) and up to a $6500 credit to move-up buyers who have owned and occupied their current homes for at least five years. Again, you have to be an owner occupant of this primary residence,

WASHINGTON — Three major U.S. trade groups are urging the Obama administration to back an extension of the $8,000 first-time home-buyer tax credit set to expire Nov. 30. "Our fragile economy is just.

If your ownership status changes, you must file a Form 5405, First-Time Homebuyer Credit and Repayment of the Credit, with your tax return for the year in which the change occurred. You report your change in ownership status by checking the appropriate box in Part III.

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An extension of the $8,000 first-time home buyer tax credit appears all but certain after the Obama administration called on Congress to give house hunters more time to claim the popular tax perk.

 · Obama Signs Homebuyer Tax Credit Extension Print Article <!– Single post title end –> RISMEDIA, November 9, 2009-President Barack Obama has approved the first-time homebuyer tax credit extension which will extend the tax credit until April 30, 2010.

“Although I am pleased that the fraud identified earlier does not continue, I am concerned about prisoners claiming the credit.” Congress started the first-time homebuyer tax credit. latest.

Home Buyer Tax Credit Done When obama signs. november 5th, 2009 Categories: Financial, First Time Home Buyers, Home Buyers, Home Sellers. Expanded Home Buyers Tax Credit Voted Up By Senate and House Today. Just today the United States House of Representatives voted 403-12 to extend and expand the Home Buyers Tax Credit.