{"id":218471,"date":"2009-12-28T07:00:00","date_gmt":"2009-12-28T12:00:00","guid":{"rendered":"http:\/\/blog.usa.gov\/roller\/govgab\/entry\/home_buyer_tax_credit_extended"},"modified":"2009-12-24T12:21:35","modified_gmt":"2009-12-24T17:21:35","slug":"home-buyer-tax-credit-extended","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/218471","title":{"rendered":"Home Buyer Tax Credit Extended"},"content":{"rendered":"<p><img decoding=\"async\" vspace=\"0\" hspace=\"0\" border=\"0\" align=\"left\" style=\"margin: 10px 10px 10px 0px;\" src=\"https:\/\/blog.usa.gov\/roller\/govgab\/resource\/images\/housesale.jpg\" alt=\"Home Buyer Picture\" \/>Back in October, Jess asked Gov Gab readers what they thought about Congress <a href=\"http:\/\/blog.usa.gov\/roller\/govgab\/entry\/expanding_the_home_buyer_tax?comment=view\" title=\"First-time Home Buyer Credit\">expanding the first-time home buyer tax credit<\/a>.<br \/>\nIf you remember, the first-time home buyer tax credit gave up to $8,000<br \/>\nto a buyer who has not owned a primary residence during the three years<br \/>\nup to the date of home purchase. The credit was due to end this month.<\/p>\n<p>Congress passed the <a title=\"Worker Homeownership, and Business Assistance Act of 2009\" href=\"http:\/\/frwebgate.access.gpo.gov\/cgi-bin\/getdoc.cgi?dbname=111_cong_public_laws&amp;docid=f:publ092.111\">Worker, Homeownership, and Business Assistance Act of 2009<\/a> which extends<br \/>\nthe deadline for qualifying home purchases from Nov. 30, 2009, to April<br \/>\n30, 2010. The <a href=\"http:\/\/www.irs.gov\/newsroom\/article\/0,,id=215791,00.html?portlet=7\" title=\"IRS Homebuyer Credit page\">Internal Revenue Service <\/a><a title=\"IRS Homebuyer Credit page\" href=\"http:\/\/www.irs.gov\/newsroom\/article\/0,,id=215791,00.html?portlet=7\">web page<\/a><br \/>\nhas posted details on the changes in the extension law and the big news<br \/>\nis that if you already own a home, you may be eligible for a tax credit<br \/>\nof up to $6,500.<\/p>\n<p>The new law provides a \u201clong-time resident\u201d credit of up to $6,500<br \/>\nto others who do not qualify as \u201cfirst-time home buyers.\u201d To qualify<br \/>\nthis way, a buyer must have owned and used the same home as a principal<br \/>\nor primary residence for at least five consecutive years of the<br \/>\neight-year period ending on the date of purchase of a new home as a<br \/>\nprimary residence.<\/p>\n<p>The extension also permits a rise in income limits and other provisions. The IRS is the <a title=\"IRS tax credit page\" href=\"http:\/\/www.irs.gov\/newsroom\/article\/0,,id=204671,00.html\">best resource to read about all the changes<\/a> and what you <a title=\"IRS How to File\" href=\"http:\/\/www.irs.gov\/newsroom\/article\/0,,id=205416,00.html\">will need to do to receive the credit<\/a>. <\/p>\n<p>What do you think of the Worker, Homeownership, and Business Assistance Act of 2009?<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Back in October, Jess asked Gov Gab readers what they thought about Congress expanding the first-time home buyer tax credit. If you remember, the first-time home buyer tax credit gave up to $8,000 to a buyer who has not owned a primary residence during the three years up to the date of home purchase. The [&hellip;]<\/p>\n","protected":false},"author":4154,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-218471","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/218471","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/4154"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=218471"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/218471\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=218471"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=218471"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=218471"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}