Homebuyer Tax Credit Increased to $8000

This program is available for single persons with adjusted gross income up to $75,000 (or $150,000 for married couples filing a joint return). Partial benefits are available for single persons with incomes between $75,000 AND $95,000, and for married couples (filing jointly) with incomes between $150,000 and $170,000. You may take the tax credit in either 2008 or 2009. If the eligible purchaser's federal income tax liability is less than the homebuyer tax credit, the purchaser may receive a refund from IRS for the unused amount. Consult your tax advisor for full guidance. The program benefits first-time buyers and anyone who hasn't owned a home (principal resident) in the immediate three (3) previous years.