First-Time Homebuyer Tax Credit

On July 30, 2008, President Bush signed a major housing bill (H.R. 3221) into law. As part of the housing bill, Congress has created a new, temporary tax credit to provide an incentive for first-time homebuyers. 

The $7500 credit will be available for the purchase of a principal residence on or after April 9, 2008 and before July 1, 2009.

Click here to view IRS IR-2008-106

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