$8000 Tax Credit May be Extended

October 26, 2009, 11:09, am By

The much coveted, desired and advertised $8,000 first time homebuyer tax credit may be extended after all.  Here is the latest:

WASHINGTON (Reuters) – The U.S. Senate should act later this week to extend a $8,000 tax credit for first-time home buyers that is scheduled to expire soon, Democratic Sen. Bill Nelson said on Monday.

“We should be able to extend that later this week,” Nelson, a member of the Senate Finance Committee, told reporters before joining President Barack Obama on an Air Force One flight to Florida.

“The existing law ceases to exist on November 1. This would be an extension for a limited period of time,” Nelson said.

We’ll keep you posted.

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