Will the Stimulus Money End in November or be Extended
Posted on | July 16, 2009 | No Comments
I’m not sure why this keeps popping up as a question but over the last two weeks I have been asked is the stimulus tax rebate will be extended into next year no less than 6 times. While it seems to everyone out here on the front lines that the government should extend this tax rebate and if you’re not quite ready to buy right now, it would be nice for the government to extend it, but the reality is there has been nothing said to date that neither I nor any of my colleagues have heard about that would lead us to believe the tax stimulus rebate will be extended beyond November 30th of 2009.
So the short answer right now is; don’t count on it! If you want to partake of the $8,000 tax stimulus rebate you will need to close on your home prior to November 30th of this year. Remember this is only for first time home owners (those who have not owned property or on a deed of a property for the last three years) and you will get 10% of the purchase price up to the $8,000. If you have any questions as to whether you qualify, talk to a Certified Public Accountant (CPA) to get the best information you can or call the IRS directly.
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