Part of the American Recovery and Reinvestment Act of 2009 includes a Homebuyer Tax Credit.
The $8,000 tax credit is only available to first-time home buyers for the purchase of a principal residence on or after January 1, 2009 and before December 1, 2009. The credit does not require repayment. The tax credit will reduce the purchaser's income tax liability. If any credit amount remains unused, then the unused amount will be refunded as a check to the purchaser.
An individual purchaser cannot make more than $75,000 in 2009 and a couple cannot make more than $125,000 to be eligible for the credit.
Contact a certified tax accountant for more details.
Contact Michelle Sloan, Sibcy Cline Realtor to find the perfect first home!
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