First-time Homebuyer Credit & Estimated Taxes

Great news for those of you out there that pay estimated taxes and have bought, or are planning to buy, your first house.

According to the IRS, you may be able to claim a refundable credit of up to $8,000 if you are a first-time homebuyer and buy a principal residence after December 31, 2008, and before December 1, 2009.

The IRS has posted more information about the first-time homebuyer credit on their website.

To see what else is new in estimated taxes for 2009, check out our New for 2009: Estimated Tax Guide.