Information on the Buyer Tax Credit has been updated. For your convenience I have summarized the guidelines below, however please see the link below for further information AND you can even send it to your clients so you can show them what a valuable source of information you are, http://www.federalhousingtaxcredit.com/2009/home2.html

and for the Tax Credit Form    http://www.irs.gov/pub/irs-pdf/f5405.pdf
 
$8,000 Home Buyer Tax Credit at a Glance (Summary)
The tax credit is for first-time home buyers only, Under FAQ the link defines First Time Home Buyers
The tax credit does not have to be repaid.
The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $8,000.
The credit is available for homes purchased on or after January 1, 2009 and before December 1, 2009.
Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit.

For complete details on everything Aliso Viejo Real Estate visit our web site at http://www.alisoviejorealestate.com.