No repayment for $8000 home buyer tax credit -does not need to be repaid

Details of the $8000 first time home buyer tax credit are still coming out. The latest update is that unlike $7500 tax credit this $8000 housing tax credit does not need to be repaid. The $7500 tax credit was essentially like an interest free loan for 15 years from IRS.

However it is still not clear whether the $8000 tax credit is a refundable tax credit. Keep visiting for updates on the housing bill in the economic stimulus package.
update:Read my latest post on $8000 first time home buyer tax credit-details explained for latest updates.

Feb 14, 2009

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