Posts tagged as:

homebuyer’s credit

Homebuyer Tax “Surprise” Just a Figment of the Media’s Imagination

10 September 2010

Yesterday, I was scrolling through CNN and I saw a headline about the “Homebuyer Tax Surprise.” A similar finance site touted the headline “Nearly 1 Million Homeowners Shocked at Payback.” No, no, they’re not. They’re not shocked. They’re not surprised. Or at least they shouldn’t be. They knew exactly what they were getting into. They [...]

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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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Homebuyers Face Deadline

29 June 2010

Despite some pretty serious lobbying efforts by realtors, banks, lenders and goodness knows who else, it looks like the homebuyer’s credit may not be extended. The credit was set to expire tomorrow. In other words, to qualify for the tax credit, homebuyers had to close by June 30, 2010. For one reason or another, that [...]

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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 Expires This Week

26 April 2010

Tax Day may have come and gone but many taxpayers still have one more significant tax-related date in April: April 30. That’s the last day for taxpayers hoping to qualify for the homebuyer’s credit to finalize their contracts. Taxpayers who sign a contract by that date have until June 30, 2010, to settle on the [...]

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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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Homebuyer’s Extension To Cost…

30 October 2009

Get ready for it… $10.8 billion. This is an estimate for the extension portion only – the initial credit cost just over $8 billion. Call it welfare, a bailout, an “incentive plan” – I call it bad policy.

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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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