The President has signed the bill.
My previous email contained information regarding the new legislation and it had two parts that were incorrect.
A single first time homebuyer can get the full credit (10% of the purchase price up to a max of $8,000) and a buyer(s) that are above the increased income caps can receive a partial credit. For example; Single tax filers who earn up to $125,000 are eligible for the total credit amount. Those who earn more than this cap can receive a partial credit. However, single filers who earn $145,000 and above are ineligible. Likewise joint filers who earn up to $225,000 are eligible for the total credit amount. Those who earn more than this cap can receive a partial credit and joint filers who earn $245,000 and above are ineligible.
My previous email contained information regarding the new legislation and it had two parts that were incorrect.
A single first time homebuyer can get the full credit (10% of the purchase price up to a max of $8,000) and a buyer(s) that are above the increased income caps can receive a partial credit. For example; Single tax filers who earn up to $125,000 are eligible for the total credit amount. Those who earn more than this cap can receive a partial credit. However, single filers who earn $145,000 and above are ineligible. Likewise joint filers who earn up to $225,000 are eligible for the total credit amount. Those who earn more than this cap can receive a partial credit and joint filers who earn $245,000 and above are ineligible.