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TAKE ADVENTAGE of the OPPORTUNITY of a LIFETIME BEFORE IT EXPIRES ON 12/1/2009

October 7th, 2009 10:19 AM by Lehel S.

TAKE ADVENTAGE of the OPPORTUNITY of a LIFETIME BEFORE IT EXPIRES

TAX CREDIT of as much as $ 8,000 for first time home buyers

HURRY – you must close on your home BEFORE December 1, 2009

QUICK FACTS

ü ESCROW MUST CLOSE PRIOR TO December 1, 2009

ü Available to first time home buyers purchasing any kind of home on or after April 8, 2008 and before December 1, 2009

ü Participation in the program is easy. Simply claim the tax credit on your federal income tax return. This refund reduces a taxpayer’s tax bill or increases his or her refund, dollar for dollar.

ü The tax credit does not have to be repaid and is equal to 10% of the home’s purchase price up to a maximum of $ 8,000.

ü The credit is fully refundable. Meaning the credit will be paid out to eligible taxpayers, even if they owe no tax or the credit is more than the tax owed.

ü You may be able to access the money sooner than waiting to file your 2009 tax return. Check with your tax professional for advice

ü Home buyers must use the residence as a principal residence for at least three years or face recapture of the tax credit amount.

ü Please consult your tax consultant.

Just like so many of the good things in life, time is of the essence.

Posted in:General
Posted by Lehel S. on October 7th, 2009 10:19 AM

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