If you’re interested in buying a home, a recent IRS announcement might just make your day. (Yes, an IRS announcement that DOESN’T induce heartburn.)
The good news? People who qualify for the first-time homebuyer tax credit can claim the tax credit either on their 2008 tax returns due April 15 or on their 2009 tax returns. That’s according to a February 25th IRS press release.
The release quotes IRS Commissioner Doug Shulman as saying, “For first-time homebuyers this year, this special feature can put money in their pockets right now rather than waiting another year to claim the tax credit. This important change gives qualifying homebuyers cash they do not have to pay back."
Are you taking advantage of the first-time homebuyer tax credit? We’d like to hear from you! Do you think it will promote economic recovery? Did the tax credit play a roll in your decision to buy a home? Drop us a comment and share your two cents!