Posts tagged as:

first time homebuyer

Existing home sales rebound in August – Sep. 23, 2010

23 September 2010

Interesting reading from CNN this morning that indicates that the housing market might be steadying: Existing home sales rebound in August – Sep. 23, 2010. This is clearly impossible. I mean, I’ve been reading propaganda from the National Association of Realtors articles for months now that absolutely, positively indicated that without additional housing tax credits [...]

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Homebuyer’s Credit Extended.

1 July 2010

The homebuyer tax credit has been extended. Homebuyers now have until September 30, 2010, to close on their purchases after a late night deal passed by the Senate. The bill now goes to President Obama who is expected to sign it into law. An extension had been proposed months ago but the measure failed to [...]

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Reid Proposes Homebuyer’s Credit Extension. Again.

11 June 2010

The crazy train that is Congress just keeps on rolling this week. Despite the overwhelming cost to taxpayers of the homebuyer’s credit, Senate Majority Leader Harry Red (D-NV) has caved to housing lobbyists decided that money does, in fact, grow on trees panicked about the number of seats the Dems appear to be losing in [...]

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Ask the taxgirl: Differing Homebuyer Credits

3 May 2010

Taxpayer asks: If i understand this the right way if i bought my home between April 9 of 2008 and July 1 2009, you have to repay the amount back over 15 yrs. I bought my home and closed on it July 31, 2009. I got the credit on my taxes for 2009. If i [...]

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Homebuyer’s Credit In Chart Form (Cause Who Doesn’t Love Charts?)

22 February 2010

I’ll admit it – as if you hadn’t already guessed – I’m a bit of a geek. And not just a tax geek. I like math. And charts. So I was pretty psyched when @fixR-com sent me a note on twitter about their homebuyer’s credit pictograph. It’s a really good representation of the credit and [...]

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Housing Credit Extended – What Else Is New?

5 November 2009

If you’re opposed to extending the first time homebuyer’s credit (I am), you’re probably in the minority. And you’re definitely not in the Senate. The Senate voted unanimously to approve the bill and the House is expected to follow suit (at least the approval bit). Under the new law, the first time homebuyer’s credit would [...]

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First Time Homebuyer’s Credit Likely Expanded

29 October 2009

You know what they say in Congress, if it’s not broke (enough), keep trying until it is… So, with that in mind, Senate Majority Leader Harry Reid (D-NV) has announced an extension of the first time homebuyer’s credit. Despite evidence that the credit has been used inappropriately – and perhaps criminally – lawmakers have agreed [...]

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Hey Kid, Wanna Buy a House?

23 October 2009

Information involving potential fraud with respect to the first time homebuyer’s credit continues to make headlines. After initial reports that over 100,000 refunds were perhaps inappropriately distributed, the IRS has released more data about fraud relating to the credit. Officials from the Internal Revenue Service testified before Congress that as much as $600 million of [...]

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Cheater, Cheater, Pumpkin Eater: Home Buyer Credit Fraud Rampant

22 October 2009

Soooo… You know that I wasn’t a fan of the first time home buyer credit. It was touted as a “stimulus” for middle class taxpayers to make home buying more affordable. The idea was that folks would rush to buy homes, thus buoying the housing industry, getting banks going again and more or less saving [...]

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Fix the Tax Code Friday: Extending Tax Programs

18 September 2009

It’s Fix the Tax Code Friday! Buoyed by the popularity of the Cash for Clunkers program – and the perceived success of the First Time Homebuyer’s Credit – Congress is considering whether to extend both programs in 2010. Various bills suggest extending the homebuyer’s credit from six months to a year – and even increasing [...]

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