Jason's mom called us early this morning (well, it may have been a quarter to seven, but for us that's early!) to let us know that Congress is extending the deadline for the first time homebuyer's tax credit. YAY!!!!!!!!!!!!!!!!!!
In case you haven't heard us discussing this, we were very concerned about our house purchase not qualifying because the deadline was November 30. As in, less than a month from now. And although our house would be ordered and almost completed by then, it would not be finished for occupation. So basically we were going to have to beg and plead with the IRS to take pity on us, since we tried to have our home done by Nov. 30, but it was going to miss it by a week or two.
But now all that doesn't matter, because the deadline has been extended for several more months. So there is no longer a question as to whether we qualify. And we have definite plans for that $8000, so we're glad to know it will be coming our way. :)
The First Time Homebuyer's Tax Credit info can be found here. Basically, if you are purchasing your first home, you can get up to $8000 back in your tax refund. (The actual amount you can receive is 10% of your home's purchase price, up to $80,000. In other words, the most you can receive is $8000.) And that's a good chunk of change! And unlike the credit from 2008, people like us purchasing in 2009 do not have to pay their's back.
So we are over the moon with the news that the credit has been extended. This, coupled with our awesome news yesterday, has definitely made us happy campers!
Don't forget, excavation pics will start next week! :)
