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Tentative agreement to extend and expand tax credit.

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Forums » Other Industry Professionals » Realtors / Real Estate Agents » Tentative agreement to extend and expand tax credit.
 

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Latest post Sat, Oct 31 2009 9:21 PM by Moshe Cohen PhD. 0 replies. Viewed 100 times.
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  • Sat, Oct 31 2009 9:21 PM                

    |Contact

    Senate leaders reached a tentative agreement on Wednesday, October 28, 2009 but no bill was passed. The agreement will extend the $8,000 tax credit to April 2010 for having a contract or settlement by June 30.

    In the bill there is also a new $6500 credit for current homeowners who lived in their primary residence for 5 years and have a joint income below $250,000 ($125,000 for singles). There was no agreement whether to put the bill to vote on its own or or jointly with other legislation. The bill has to be voted in the house and signed by the president to become a law.
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