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Special Notice: Stimulus Package Contains Substantial Home Buyer Tax Credit | | •The tax credit is for first-time home buyers and people who have not owned a home for at least 3 years. | | •The tax credit does not have to be repaid. | | •The tax credit is equal to 10 percent of home's purchase price up to a maximum of $8000. | | •Applies to purchases made between January 1, 2009 and April 30, 2010. | •The full tax credit is available for Single taxpayers with a modified adjustable gross
income up to $75,000 and $150,000 for married taxpayers that file joint returns. A partial
tax credit is available for taxpayers with greater earnings. | | •The Worker, Homeownership, and Business Assistance Act of 2009 has established a tax credit up to $6,500 for qualified move-up/repeat home buyers (existing home owners) purchasing a principal residence after November 6, 2009 and on or before April 30, 2010. |
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