http://www.buymyhome.me.uk/uncategorized/what-exactly-is-the-8000-tax-credit-that-is-in-the-stimulus-bill-for-1st-time-home-buyers.html We Buy homes Fast for Cash Wed, 21 Jul 2010 02:51:12 +0000 hourly 1 http://wordpress.org/?v=3.0.1 http://www.buymyhome.me.uk/uncategorized/what-exactly-is-the-8000-tax-credit-that-is-in-the-stimulus-bill-for-1st-time-home-buyers.html/comment-page-1#comment-1085 sayNOtoBYU Tue, 29 Jun 2010 23:09:08 +0000 http://www.buymyhome.me.uk/home-buyers/what-exactly-is-the-8000-tax-credit-that-is-in-the-stimulus-bill-for-1st-time-home-buyers.html#comment-1085 Actually, this is the Senate and House's compromise in the Economic Stimulus package. If ratified by Obama on Feb 16, it will provide first-time homebuyers who purchased a home between Jan 1 and Dec 31 2009, a credit of $8000 against their '09 federal tax liability. It would not have to be repaid. Currently, there is a $7500 tax credit (interest-free loan) available to first-time homebuyers who purchased during April 1 2008 through June 30, 2009. That is required to be paid back over time, although it does not depend on your federal tax liability - it is a guaranteed check for the full amount. Obama signing the new legislation would eclipse the old $7500 tax credit. Actually, this is the Senate and House’s compromise in the Economic Stimulus package. If ratified by Obama on Feb 16, it will provide first-time homebuyers who purchased a home between Jan 1 and Dec 31 2009, a credit of $8000 against their ’09 federal tax liability. It would not have to be repaid. Currently, there is a $7500 tax credit (interest-free loan) available to first-time homebuyers who purchased during April 1 2008 through June 30, 2009. That is required to be paid back over time, although it does not depend on your federal tax liability – it is a guaranteed check for the full amount. Obama signing the new legislation would eclipse the old $7500 tax credit.

]]> http://www.buymyhome.me.uk/uncategorized/what-exactly-is-the-8000-tax-credit-that-is-in-the-stimulus-bill-for-1st-time-home-buyers.html/comment-page-1#comment-1084 bostonianinmo Sat, 26 Jun 2010 15:20:31 +0000 http://www.buymyhome.me.uk/home-buyers/what-exactly-is-the-8000-tax-credit-that-is-in-the-stimulus-bill-for-1st-time-home-buyers.html#comment-1084 It's nothing yet. It's not been passed into law yet. It’s nothing yet. It’s not been passed into law yet.

]]> http://www.buymyhome.me.uk/uncategorized/what-exactly-is-the-8000-tax-credit-that-is-in-the-stimulus-bill-for-1st-time-home-buyers.html/comment-page-1#comment-1083 Jss Thu, 24 Jun 2010 23:06:43 +0000 http://www.buymyhome.me.uk/home-buyers/what-exactly-is-the-8000-tax-credit-that-is-in-the-stimulus-bill-for-1st-time-home-buyers.html#comment-1083 This credit is available for first time home buyers and those who did not own home in last three years. It is in fact interest free loan of up to $7,500. The credit is 10 percent of the purchase price of the home, with a maximum available credit of $7,500 for either a single taxpayer or a married couple filing jointly. This credit is available for first time home buyers and those who did not own home in last three years. It is in fact interest free loan of up to $7,500. The credit is 10 percent of the purchase price of the home, with a maximum available credit of $7,500 for either a single taxpayer or a married couple filing jointly.

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