Worker, Home Ownership and
Business Assistance Act of 2009
New tax legislation signed into law on November 6, 2009 not only temporarily extends certain unemployment benefits but introduces several tax law changes. Two provisions are of special interest to many taxpayers trying to maximize any possible economic benefit available. The First Time Homebuyer Credit is intended to stimulate home purchases and the Net Operating Loss Five-Year Carryback is designed to provide economic relief to struggling businesses.