The IRS jsut came out with the new regulations regarding the changes to the First Time Home Buyers Tax Credit - For a home purchased between January 1 and December 1, 2009 - $8,000 or 10% of purchase price, whatever is lower - Credit can be claimed on the 2008 or 2009 return (Form #5405 has been updated) - For those bought in 2009, the credit does not need to be repaid - For those who bought under the original credit in 2008, you are SOL, the old $7,500 credit still applies and you still have to pay it back http://www.irs.gov/newsroom/article/0,,id=204672,00.html http://www.irs.gov/pub/irs-pdf/f5405.pdf If someone bought their house in 2008 and wanted to take this credit I would be super pissed because they still have to pay it back.