The IRS has recently released a form, which eligible homebuyers have to claim in order to get the first-time credit of homebuyers this tax season. They have also announced tax returns processing and brand new requirements in documentation to deter any fraud that may be related to first-time credit of homebuyers.
This brand new form follows major changes that were made a few months back, which extended credit to a wider array of home purchasers while adding new requirements of documentation to avoid fraud and making sure that taxpayers properly get credit at the same time.