Helen Adams Blog » $8000 Tax Credit http://charlottesrealestateblog.com A Blog About Charlotte Real Estate Fri, 18 May 2012 18:11:18 +0000 en hourly 1 http://wordpress.org/?v=3.0.4 Bill Has Passed to Renew $8000 Tax Credit http://charlottesrealestateblog.com/2009/11/17/senate-passes-bill-to-renew-8000-tax-credit/ http://charlottesrealestateblog.com/2009/11/17/senate-passes-bill-to-renew-8000-tax-credit/#comments Tue, 17 Nov 2009 17:35:41 +0000 Helen Adams Realty http://charlottesrealestateblog.com/?p=1292 On Friday, November 6, President Obama signed  a bill to extend the $8000 tax credit for first-time home buyers until June 2010.   First-time home buyers will receive the $8000 tax credit if they sign a contract by April 30, 2010 and close on the home by June 30, 2010.  The new bill also will provide a $6500 credit  for homeowners who purchase a new primary residence, and have lived in their current home for at least five of the previous 8 years.

 

The bill has a few provisions including:

* Single tax filers who earn up to $125,000 are eligible for the total credit amount. Those who earn more than this cap can receive a partial credit. However, single filers who earn $145,000 and above are ineligible.

* Joint filers who earn up to $225,000 are eligible for the total credit amount. Those who earn more than this cap can receive a partial credit. However, joint filers who earn $245,000 and above are ineligible.

 

The bill also introduced 20 weeks of unemployment benefits in states with jobless rates above 8.5%.  States with unemployment rates below 8.5% would provide 14 weeks of unemployment benefits.

 

 

The bill also provides refunds on profit taxes for businesses that had operating losses in 2008 and 2009.

 

Click below for the First Time Home Buyer Tax Credit Form:

]]> http://charlottesrealestateblog.com/2009/11/17/senate-passes-bill-to-renew-8000-tax-credit/feed/ 0 Extension of the Home-Buyer Tax Credit still moving forward in the Senate http://charlottesrealestateblog.com/2009/10/28/extension-of-the-home-buyer-tax-credit-still-moving-forward-in-the-senate/ http://charlottesrealestateblog.com/2009/10/28/extension-of-the-home-buyer-tax-credit-still-moving-forward-in-the-senate/#comments Wed, 28 Oct 2009 13:35:04 +0000 Scott Farrell http://charlottesrealestateblog.com/?p=1221 Details released today by Senator Dodd that the democrats have reached an agreement to extend the soon to expire $8,000 tax credit for first time home buyers.  Republicans cautioned that negotiation continue.  Neither side released any details but the extension will be phased throughout 2010.  The full credit will extend to March and then slowly decrease as 2010 progresses.  To read more about this story got CNBC’s website.

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