In recent news, the President signed H.R. 3548, The “Worker, Homeownership, and Business Assistance Act of 2009,” on November 6, 2009. The Act includes a number of changes for both businesses and individuals. Most notably, the Act extends the first time homebuyer tax credit (FTHTC) and liberalizes it by making it available to (1) higher-income taxpayers and (2) to existing homeowners who are qualifying “long-time residents” and who buy another principal residence. However, there is a now a dollar cap on the residences qualifying for the FTHTC.

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This entry was posted on Friday, December 4th, 2009 at 11:02 am and is filed under Home Owners, Tax. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.