Homebuyer Credit Expanded and Extended
The Worker, Homeownership and Business Assistance
Act of 2009, signed into law on Nov. 6, 2009, extends
and expands the first-time homebuyer credit allowed
by previous Acts.
Under the new law, an eligible taxpayer must buy, or
enter into a binding contract to buy, a principal
residence on or before April 30, 2010 and close on the
home by June 30, 2010. For qualifying purchases in
2010, taxpayers have the option of claiming the credit
on either their 2009 or 2010 return.
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