IRS TAX TIP 2009-02
First-time homebuyers should begin planning now to take advantage of a new tax credit. Available for a limited time, the credit:
• Applies to home purchases after April 8, 2008, and before July 1, 2009.
• Reduces a taxpayer’s tax bill or increases his or her refund, dollar for dollar.
• Is fully refundable, meaning that the credit will be paid out to eligible taxpayers, even if they owe no tax or the credit is more than the tax that they owe.
for more information visit http://www.irs.gov/newsroom/article/0,,id=202222,00.html
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