If you are considering a local move or long distance move to a recently purchased new home be sure to capitalize on some of the tax incentives or tax credits offered by the federal government.

Legislative changes in November 2009 expanded and extended the First Time Home Buyer’s credit.  This is a credit for up to $8,000 for qualified first-time home buyers purchasing a principal residence. They also added documentation requirements for claiming the credit.  Be sure to identify and understand the documentation requirements to smooth the tax form completion. The tax credit applies to sales occurring after January 1, 2009 and on or before April 30, 2010. Home purchases completed by June 30, 2010 with a binding sales contract signed by April 30, 2010 will also qualify.

There is also a $6,500 tax credit available for qualified existing home owners.

Check out the helpful links below for more information on these tax credits.

http://www.federalhousingtaxcredit.com/

http://www.irs.gov/newsroom/article/0,,id=204671,00.html