Homebuyer Tax Credit Closing Deadline Extended to Sept. 30

To be clear, this great news only applies to eligible taxpayers who contracted to buy a home, qualifying for the first-time homebuyer credit, before the end of April. So new contracts are not part of the extension.

The extension was made available as part of The Homebuyer Assistance and Improvement Act of 2010.

Now eligible taxpayers have 3 more months to close!!!

To receive the credit, eligible taxpayers must fill out Form 5405 and include the HUD-1. Good luck and have a great July 4th weekend.

Homebuyer Tax Credit likely extended

President Obama plans to extend a deadline for homebuyers to complete purchases and qualify for an $8,000 tax credit according to the White House.

Under the extension, qualified homebuyers who signed purchase contracts before April 30 will have until Sept. 30 to complete paperwork and settle on the house. The original settlement deadline was June 30, 2010.

Nassau tax assessment changes

A new fine will be imposed on commercial property owners of $4,000 if they challenge their assessments without an appropriate appraisal.

Assessments are now required every four years, instead of every year.

To learn more, click here.