On Nov 6, 2009, Pres Obama signed PL 111-092, the Worker, Homeownership, and Business Assistance Act of 2009 (WHBAA). This act has provisions affecting both taxpayers and tax preparers. The WHBAA extends the availability of the first-time home buyer credit through Jun 30, 2010, for first-time home buyers who enter into a written binding contract for the purchase of their personal residence before May 1, 2010. The WHBAA requires that any income tax return preparer who prepares a total of more than 10 income tax returns for individual, estates, or trusts must file such returns electronically. Effective for taxable years ending after Dec 31, 2007, and before Jan 1, 2010, eligible small-business taxpayers may elect to extend the net operating loss (NOL) carryback period to three, four, or five years.