Homebuyer Credits— A new law extends the closing date deadline for the homebuyer credit. Under the Homebuyer Assistance and Improvement Act of 2010, a qualified homebuyer can claim the credit on a pre-May 1, 2010, contract if the purchase is finalized by September 30, 2010. Previously, the closing date deadline for the credit was June 30, 2010.

Health Insurance— Under the new health care legislation, health insurance plans cannot deny coverage to an employee’s child under age 27. The children do not have to be the employee’s dependents to qualify for the extended coverage. This new law provision takes effect for plan years beginning after September 22, 2010.