IRS updates homebuyer tax credit form

Credit can be claimed on 2008 or 2009 return

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The IRS has updated the tax form used to claim the first-time homebuyer tax credit that’s been increased to as much as $8,000 for buyers purchasing a home this year before Dec. 1.

In 2008, nearly half of homebuyers were buying for the first time, and the expanded credit will make it easier for that group of buyers to enter the housing market this year, the Treasury Department said in an announcment publicizing its implementation.