First-Time Homebuyer Credit

Overview

First-time homebuyers may be able to take advantage of a tax credit for homes purchased in 2008 or 2009. The credit:

• Applies to purchases that close after April 8, 2008, and before Dec. 1, 2009.
• Applies only to homes used as a taxpayer's principal residence.
• Reduces a taxpayer's tax bill or increases his or her refund, dollar for dollar.
• Is fully refundable, meaning the credit will be paid out to eligible taxpayers, even if they owe no tax or the credit is more than the tax owed.

CALL US TO ASSIST WITH ANY ASPECT OF PURCHASE & APPLYING FOR THE CREDIT - THERE IS NO CHARGE for us to complete the IRS filing after we assist you in your first time home purchase.

http://www.irs.gov/pub/newsroom/marketing/print/p_4771_final09_home_flyer.pdf