The IRS has released the helpful video clip below which explains the extension of the deadline to close and what steps you need to take in order to obtain the credit.
If you want to learn about how the homebuyer tax credit closing extension passed, watched this informational video.
On Wednesday, the Senate approved legislation which allows home buyers (first-time home buyers and home buyers purchasing home for primary residence) that signed contracts by April 30 to close by September 30 in order to still be eligible for the tax credit. The tax credit is $8,000 for first time home buyers and $6,500 for home buyers purchasing a home as their new primary residence. Congress has sent the bill to President Obama.
Reuters, Senate Agrees to Extend Home Tax Credit
New York Times, Home Buyers’ Tax Credit Extended
