The Missouri Housing Development Commission has a new TCAL (Tax Credit Advance Loan) program to assist with the down payment on a mortgage. The program that has been making headlines is the American Recovery and reinvestment Act of 2009 which provides up to 8000 in tax incentives for first time homebuyers. The TCAL program allows [...]
Entries Tagged as 'tax credit'
First Time Homebuyer Tax Credit up to $8000
April 16th, 2009 · Comments Off · Uncategorized
In 2009, qualifying taxpayers who buy their first home before Dec. 1 can claim the credit on either their 2008 or 2009 tax returns. They do not have to repay the credit, provided the home remains their main residence for 36 months.