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Tax News Homebuyer Tax Credit Extension
House Democrats are open to a short-term fix so first-time homebuyers can qualify for an $8,000 tax credit even if they do not close on a home by Nov. 30, according to senior Ways and Means Committee members. The measure, still in the discussion stage, would allow prospective homeowners to qualify if they have a signed contract by that date but have not finished the closing process, which can take up to two months.