First Time Home Buyer Tax Credit - New Information

Great news today. The IRS has revised it's Form 5405 that allows a first time homebuyer to get a tax credit for $8,000. The most important change is they can claim it on their 2008 TAXES!
That's correct, if you purchased a home in 2009 you can check a box that states you are collecting the $8,000 credit on your 2008 taxes and get the money immediately. If you have already filed your return for 2008, you can use this form to amend your return and re-submit. You will get your tax rebate in a few weeks.

The caveat, you must not have owned a home in the last three years and need to buy a home between now and December 1, 2009.

This is great news, buyers. Get that cash that you need NOW instead of waiting.

For all your real estate needs, contact me: Karen Schweinfurth, ABR, CRS, SRES, e-PRO, RE/MAX Northwest Realtors - 425-308-3669 or visit my web site for more buyer information.