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cease collection of the 2008 First Time Homebuyer Credit.

Created by J.C. on March 05, 2014

In 2008 the government and IRS offered a First Time Home Buyer Credit for any new homes purchased after April 8th and before January 1st of 2009. This credit was repayable over fifteen years and was, at the time, a very useful credit for any who had purchased a home that year. However, subsequent years maintained the credit but ceased the recovery. The credit then was no longer in need of being repayed. It is our firm belief that those who took advantage of the credit in 2008 should be absolved of recovery and reimbursed any recovery that may have been completed based on the alteration to no longer require repayment in the later years.

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