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• Extends the $8,000 first-time Homebuyers Tax Credit and creates a $6,500 tax credit for qualifying "move-up buyers" purchasing a house before April 30, 2010.
• Qualifying "move-up" buyers include those who already own a home that they have used as a principal residence for five years or more.
• Home buyers with binding contracts as of April 30 will also qualify for the credit so long as they complete the transaction within 60 days.
• Available to home buyers with incomes of as much as $125,000 for a single return or $225,000 for a joint return.
• Available for homes that cost less than $800,000.
• To combat fraud, purchaser must attach documentation of purchase to tax return.
Source: National Association of Realtors, U.S. SenateRecent Business stories
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Fitch reiterates Saks issuer default rating, keeps retailer's outlook at negative - Fitch Ratings maintained the issuer default rating of Saks Inc. Wednesday and reaffirmed its outlook at negative. More
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Lights out at U energy conference. Irony police notified.
Just as Lawrence Kazmerski, a top official at the National Renewable Energy Laboratory, was about to give the keynote address at the University of Minnesota's annual E3 conference at the RiverCentre in St. Paul, the lights went out, bathing the audience in darkness and a deep sense of irony.
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