Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
IRS extends homebuyer tax credit closing deadline to Sept. 30
WASHINGTON (7/8/10)--The U.S. Internal Revenue Service has announced that the closing deadline for homebuyer tax credits under the Homebuyer Assistance and Improvement Act of 2010 has been extended until Sept. 30. The tax credit applies to taxpayers that entered into binding home purchase contracts before April 30. The previous closing deadline was June 30. In a release, the IRS said that special filing and documentation requirements apply to those who are looking to claim the homebuyer credit. “To avoid refund delays, those who entered into a purchase contract on or before April 30, but closed after that date, should attach to their return a copy of the pages from the signed contract showing all parties' names and signatures if required by local law, the property address, the purchase price, and the date of the contract,” the IRS added. Eligible homebuyers should also include a copy of the settlement statement, an executed retail sales contract, or a certificate of occupancy with their returns, the IRS added. Taxpayers must have lived in their previous home for a period of at least five years to qualify for the tax break. For the full IRS release, use the resource link.
Other Resources

RSS print
News Now LiveWire
Hensarling: "Post Dodd-Frank we've seen community banking wither on the vine under regulatory burden, w/ costs passed to low income buyers"
37 minutes ago
Rep. Capito on #HR5148: This is common sense reform...could work well in areas with avg home price less than $200K, would help those buyers
39 minutes ago
.@FinancialCmte is now discussing #HR5148. Act would amend TILA to exempt high-risk mortgages from property appraisal reqs
40 minutes ago
Reps. Hensarling and Luetkemeyer have pledged to ensure #creditunion parity before #HR4042 sees action on House floor
45 minutes ago
The @FinancialCmte has ordered a recorded vote for #HR4042. There will be no #creditunion amendment to the bill.
46 minutes ago