The Federal Home Buyer Tax Credit May Get Extended (but it's not a done deal)

You were qualified for the Federal home buyer tax credit, you entered contract on a purchase before the April 30, 2010 deadline, and now it looks like you won’t close by the June 30, 2010 deadline. No tax credit for you.

But wait!

I have seen it reported on numerous blogs and tweeted repeatedly – the deadline for closing has been extended until September 30th! Except it hasn’t really been extended at all — not yet, anyway.

Thank you to Dan Green for saving me the trouble finding 600 words this morning. Here he gives us a little civics primer set to the music of School House Rock. In short, the extension may become law, but it requires a few more guys than the Senate to make it so.

(Sadly, I saw this School House Rock episode when it originally aired — and I was watching it with my children. I am that old.)

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