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Wednesday, Aug 20, 2014
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T-Bone Pickens  
Poth  
August 28, 2013 9:28am
 
You are correct Facts - the Republicans did support HR 3590 which has nothing to do with Obamacare.

H.R. 3590 would modify the first-time homebuyers' tax credit for Armed Forces members, as well as Foreign Service and Intelligence Community employees on extended duty. The bill would waive recapture of the credit for qualifying individuals who must sell a residence after December 31, 2008, due to government orders for extended duty.

H.R. 3590 also extends the tax credit for taxpayers who serve on duty outside of the U.S. for at least 90 days in 2009, and who purchase homes before December 1, 2010. Qualifying taxpayers would also be permitted to treat a purchase made between December 31, 2009, and July 1, 2010, as a purchase made in a prior year for tax purposes. The extension would apply to residences purchased after November 30, 2009.

To offset the cost of the legislation, the bill increases the penalties for failure to file a partnership or S-corporation return from $89 to $110, beginning in taxable years following December 31, 2009. H.R. 3590 also increases by half percentage point-to 100.75 percent-the amount of any required installment of corporate estimated tax which is otherwise due in July, August, or September 2014.
     
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