Great news, First-Time Buyers!
Congress is moving closer to extending the life of a home-buyer tax credit scheduled to expire at the end of this month.
"It appears increasingly likely that Congress will extend the home-buyer tax credit, especially in light of the persistent weakness in the economy," says Tim Hanford, tax consultant with ADC Strategies in Bethesda, Md., and a former House Ways and Means Committee tax staffer.
Support also appears to be growing for expanding the provision, such as by offering a reduced credit to many homebuyers who aren't eligible for the existing one. Final details are expected soon.
Read the entire article at the Wall Street Journal.
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