real estate
As anticipated, President Obama signed the 8,000 first-time homebuyer
tax credit extension into law on Friday. You can now collect the credit if your home purchase is complete by June 30, 2010. But wait, there's more! The extension also offers a
tax credit for people who are purchasing a new residence, but aren't first-time homeowners.
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tax credit
The WSJ says that Senate negotiators have "reached a tentative deal to extend a
tax credit for first-time home buyers, but its passage remains uncertain." The tax credit in question is for $8,000 and is currently only available for "first-time" home buyers who make less than $75,000 for an individual and $150,000 for a couple. The new plan would expand the credit to non-first-time buyers and increase the income limits.
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real estate
Washington is working on getting the up-to-$8000
tax credit for first-time homebuyers due to expire in November extended, and perhaps even expanded to current homeowners buying a new house. [
AP] (Photo:
sflovestory)
tax cat
CNN points out that while it's wonderful to be getting the "
Making Work Pay"
tax credit right away through your employer adjusting your
withholding — some people
might end up getting more credit than they really are entitled to — meaning they may end up owing money at the end of the year.
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you've got mail
We recently received our "
Economic Stimulus Payment Notice," and it seems worth far less than the $41.8 million the Treasury spent on printing and mailing. The letter contained no surprises, but did extend the tantalizing possibility that we would receive "a notice and additional information shortly before the payment is made." Check out the full letter and a handy eligibility chart, after the jump.
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Consumerist
The $15,000 tax credit for homebuyers that we were getting so many excited emails about has been dropped from the stimulus bill. Sorry, America. [Consumer Reports]
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