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Time running out on first-time homebuyer tax credit

The Arizona Association of Realtors reminds everyone that the deadline to qualify for the first-time homebuyer tax credit is April 30.

The Worker, Homeownership and Business Assistance Act of 2009 passed in November, increases the number of people who can take advantage of the tax credit.

Anyone who has not owned a primary residence for the past three years is considered a first-time homebuyer and is eligible for a $8,000 tax credit.

In addition, the law now allows people who currently own homes to qualify for a $6,500 tax credit for a home purchase.

Buyers entering into a binding contract by the end of April will have until June 30 to close on the sale.

For all qualifying purchases in 2010, taxpayers have the option of claiming the credit on either their 2009 or 2010 tax returns.

“This is an excellent opportunity for anyone considering the purchase of a new house,” said Tom Farley, chief executive officer of the Arizona Association of Realtors. “The tax credit opens the door to home ownership for more individuals.

“The time to buy a new house has never been better.”

Transfer your memories free

Dick and Janice Schaeffer of Got Memories of Payson, 1107 S. Beeline, are hosting a film transfer demonstration from noon to 3 p.m., Saturday, April 10.

Bring in 8mm or 16mm film or VHS tapes and transfer them to a DVD free.

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