Submitted By: Larrie
Answered: August 20, 2013 8:30 am

Is there a first-time homebuyer credit for someone who buys a house in 2013?

No. The first-time homebuyer credit ended in 2010 and it has not been extended. There’s probably no chance that Congress will change its mind anytime soon because the housing market has picked up.

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Tax Glossary

Flexible spending arrangement

A salary reduction plan that allows employees to pay for enhanced medical coverage or dependent care expenses on a tax-free basis.

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