IRS reminds Ala taxpayers about tax breaks

Montgomery, Al – - The Internal Revenue Service says nearly
34,000 Alabamians have collected almost $237 million in homebuyer
tax credits, but time to use the federal stimulus program is
running out.
IRS spokesman Dan Boone said potential homebuyers must have a
binding contract to purchase a home by April 30, and they must
close on the home by June 30 to qualify for a homebuyer tax credit.
The tax credit program provides up to $8,000 for taxpayers if
they are buying a new home for the first time or if they have not
owned a home in the last three years.