Tax Cuts in Fiscal Stimulus Package

By Harry Sit

Update on Feb. 14: The stimulus package has been passed by both the House and the Senate. The President is expected to sign it shortly. See the follow-up post for updated information.

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Posted on January 30, 2009 under Taxes. Keywords: .

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3 Comments on Tax Cuts in Fiscal Stimulus Package

  1. pdl on February 14, 2009
     

    I don’t think they should limit it to first time home purchasers. What about the people that struggled to buy a home when no tax credits were given? These are the people that deserve some kind of break instead of the people out there getting freebies since the economy is supposedly teet’s up.

  2. Taka on February 14, 2009
     

    I took advantage of the first time home purchase credit for 2008. Orginally they had it set up to pay it back over the next 15years but do you know if that has been retroactive to the new provision where it might not have to be paid back?

  3. TFB on February 14, 2009
     

    Taka – If you purchased in 2008, you missed out on the true tax credit. You will still have to pay back your credit in 15 years.

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