The Average Household Will Get $2,800 In Tax Refunds. Will You?
March 25th, 2010 categories: Household Finances
April 15 is Tax Day and the IRS estimates that the average U.S. household will receive a $2,800 tax refund this year. If you’re among the Americans expecting a refund, this 4-minute piece from NBC’s The Today Show may be helpful. It’s a talk about how to receive a refund and what to do with it.
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Knoxville Home Buyers Only 7 Weeks Remain To Find A Home, Claim Up To $8,000 In Tax Credits
March 11th, 2010 categories: Buyers, General, Homebuyer Tax Credit, Market Trends, Mortgage Rates
Knoxville Home Buyers Now Is The Time To Buy!!
There many reasons to buy a home now like I pointed out in a post last week. This tax credit is just one of them.
In November, Congress extended and expanded the First-Time Home Buyer Tax Credit program to include a subset of “move-up” buyers — homeowners that have owned and lived in their home for 5 of the last 8 years.
The credit ranges up to $8,000 per buyer. There’s now just 7 weeks left to take advantage.
To be eligible, home buyers must be under contract for a new home no later than April 30, 2010, and must be closed no later than June 30, 2010.
In addition to meeting the deadline dates, there’s a basic set of requirements to be tax credit-eligible:
- You can’t purchase the home from a parent, spouse, or child
- You can’t purchase the home from an entity in which the seller is a majority owner
- You can’t acquire the home by gift or inheritance
- Each buyer in the purchase must meet eligibility requirements
There’s other criteria, too.
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