Congress passed an extension of the closing deadline for the Homebuyer Tax Credit, the Homebuyer Assistance and Improvement Act (H.R. 5623). The extension applies only to transactions that have ratified contracts in place as of April 30, 2010, that have not yet closed. The legislation is designed to create a seamless extension; the new closing deadline for eligible transactions is now September 30, 2010. There will be no gap between June 30 and the date the President signs the bill into law. Extending the tax credit closing deadline will help provide additional stability to real estate markets across the nation.


Homebuyers Tax Credit Comparison Chart ending April 30, 2010 (published by the National Association of REALTORS®)

Homebuyers Tax Credit Frequently Asked Questions (published by the National Association of REALTORS®)

IRS Homebuyer Tax Credit Information - Updated November 17, 2009

IRS First Time Homebuyer Tax Credit Basic Information Q&A - Updated November 23, 2009

IRS First Time Homebuyer Tax Credit Scenarios

IRS First Time Homebuyer Tax Credit:  Members of the Military and Certain Other Federal Employees - November 7, 2009

IRS Form 5405 Homebuyer Tax Credit Form & Instructions (Revised December, 2009)

Additional Resources:

Internal Revenue Service

NATIONAL ASSOCIATION OF REALTORS®