$15k Tax Credit/2008 Taxes?

Wed, 11 Feb 2009 16:47:00 GMT

I know this hasn't been signed into law yet (and who knows, may never make it that far), but I'm trying to get a better understanding of how this might work. I read the following in a Mortgages Unzipped article:

"The amendment would allow taxpayers to claim the credit on their 2008 income tax return."

Does this mean that if this passes and someone buys a house in say March or April of 2009, they could amend their 2008 tax return and get the $15k (or 10%) right away? That's what it sounds like to me but I'm new to this stuff so I'm not sure. Thanks!

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$15k Tax Credit/2008 Taxes?