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Old 03-17-2009, 11:37 PM
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Will taxpayers get $7,500 or $8,000 of HomeOwners Tax Credit w/ the 2008 Tax Return?

A constant question being asked by taxpayers is:

"Will I get the full $8,000 of the First Time Home Owners Tax Credit instead of $7,500 that I claimed on my 2008 Tax return if I filed my tax return prior to the 2009 Economic Stimulus being passed?"

It appears that the taxpayers would not automatically receive the higher amount of the homeowners first time tax credit, and taxpayers will probably have to amend their tax return with the new 5405, available online at irs.gov.

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