No More Recapture Reminders for 2008 First Time Homebuyers

The IRS will no longer send out reminders to First Time Home-buyers who purchased a home in 2008.  The credit in 2008 was essentially an interest free loan from Uncle Sam.  Most people pay back the loan in 15 years (15 installments of $500 through his/her tax return).  Undoubtedly and obviously, the IRS will still be tracking the recapture amount on Form 5405.


Posted: March 8, 2012

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