This was pulled from Realtor.org:
The homebuyer tax credit is one of 10 key provisions of the American Recovery and Reinvestment Act signed by President Obama into law on Feb. 17, 2009.
The bill provides for a $8,000 tax credit that would be available to first-time home buyers for the purchase of a principal residence on or after January 1, 2009 and before December 1, 2009. The credit does not require repayment. Most of the mechanics of the credit will be the same as under the 2008 rules: the credit will be claimed on a tax return to reduce the purchaser's income tax liability. If any credit amount remains unused, then the unused amount will be refunded as a check to the purchaser.
Chart Highlighting the Major Modifications to the First-Time Homebuyer Tax Credit> (PDF: 309K)
Frequently Asked Questions> (PDF: 483K)
Download the IRS First-Time Homebuyer Tax Credit Form 5405> (PDF: 257K)
NAR's Presentation: The 2009 First-Time Homebuyer Tax Credit> (PDF: 319K)
NAR's Presentation: The 2009 First-Time Homebuyer Tax Credit>
(PPT: 218K)
Latest News and Information
NAR Webinar: First-Time Homebuyer Tax Credit - April 28, 2009
In this webinar, you'll learn exactly how the first-time homebuyer tax credit works, and you'll hear about how you can build a marketing program around the incentive to reach prospective buyers.
Register for the webinar>
4/05/2009 - NAR Runs Printed Ads in Targeted Congressional Districts
On Sunday April 5th, NAR ran printed ads in select newspapers, thanking a specific group of Members of Congress for their leadership and efforts in passing the $8,000 first-time homebuyer tax credit.
Download a copy of the ad posted on the Maine Sunday Telegram> (PDF: 105K)
3/19/2009 - IRS Provides Filing Guidance on First Time Homebuyer Tax Credit
The IRS released additional information to help homebuyers understand the ways they can file to receive the homebuyer credit.
Read more>