This is a big we issue we are seeing in our little Phoenix CPA office. If you purchase a home between 1/1/09 – 12/1/09 your have scored! BIG TIME!
You are eligible for up to $8,000 refundable credit (dollar for dollar reduction on your taxes). Best part is you can take this credit on your 2008 taxes! If you have already filed your 2008 taxes, then you need to get down to your favorite tax preparer and file an amendment. Now if you have not filed your 2008 return, and are planning on buying a home before 10/15/09 (the final due date for your 2008 personal tax return), then make sure your accounting firm, prepares an extension. It’s the fastest, easiest way to get this credit.
It’s always best to file your return right, the first time.
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