New IRS Refund Tax Forms For First-Time Home buyers And Repeat Home buyer Tax Credit

The $8,000 first-time homebuyer tax credit and the $6,500 repeat homebuyer tax credit are still available and people are still taking advantage of the offer on purchasing homes, but due to abuse of the program by various mortgage dealers there is a new procedure to take advantage of the tax credit.

First-time and repeat homebuyers are going to have to file either a written copy of their taxes with additional information required by the IRS to receive the tax credit or homeowners can electronically complete their taxes and just print them out so they can attach the additional documents.

Homeowners who qualified for the $8,000 first-time homebuyer tax credit or the $6,500 repeat homebuyer tax credit, if they bought their home last year, can either amend their 2008 tax returns or simply file the tax credit on 2009 tax returns according to reports.

The new form for the $8,000 first-time homebuyer tax credit and the $6,500 repeat homebuyer tax credit is online at the IRS’s website and can be easily accessed for use on filing tax returns.

Additional information that is needed includes proof of residency, a mortgage statement and a copy of one’s driver’s license.

Again, the $8,000 first-time homebuyer tax credit and the $6,500 repeat homebuyer tax credit are still available, but homebuyers must be under contract by the end of April and close by the end of June.