Main Page

House Passes Worker, Homeownership, and Business Assistance Act of 2009

The U.S. House of Representatives approved essential legislation to stimulate the economy and provide stability to American families. The House Passed H.R. 3548, the Worker, Homeownership and Business Assistance Act of 2009 by an overwhelmingly bipartisan vote of 403 to 12. President Obama signed the legislation into law on November 6, 2009. The legislation will help continue America’s economic recovery by extending unemployment benefits for millions of workers looking for jobs, as well as extending, expanding and improving the homebuyer tax credit, and providing tax relief for military families and businesses. Many of the provisions in today’s legislation originated in the Committee on Ways and Means, and Committee leaders offered the following statements upon passage:

"Passage of this bill will give critical benefits to the millions of unemployed workers struggling in the current downturn, giving them some measure of relief while they search for the next opportunity to build a brighter future for their families,” said Ways and Means Committee Chairman Charles B. Rangel (D-NY). “This legislation also extends the homebuyer tax credit and provides tax relief for struggling businesses to build upon recent gains in the housing market and give American companies a foundation for future growth."

• Volcker Delays Tax Reform Task Force Report WebCPA
• IRS Extends Food Industry Tip Reporting Program IRS
• First-Time Homebuyer Credit Extended to April 30, 2010; Some Current Homeowners Now Also Qualify IRS
• Homebuyer Tax Credit Spurs Home Sales in October WebCPA

- Cash basis taxpayer takes deposits
- I need a 2006 form W-3
- Used Equipment - Qualify for Section 179?
- Foreign LLC
- Accounting method change-timing of deduction

It's Not Just a Good Idea. It's the Law