The Prophet (salla’Allahu ‘alayhi wasalam) is reported to have said, “Whoever stands up (in worship) in the nights preceding the two Eids expecting rewards from his Lord, his heart will not die when the other hearts will die”. (Ibn Majah)

“It had been the practice of the Prophet (salla’Allahu ‘alayhi wasalam) that he would not sleep in the night preceding the day of Eid-ul-fitr. This night has been named in a Hadith as the Night of Reward (Lailatul Jaiza). The Almighty bestows His rewards on those who have spent the month of Ramadan abiding by the dictates of Shari’ah, and all their prayers in this night are accepted. To benefit from this opportunity, one should perform as much worship in this night as he can, and should pray for all his needs and desires.”

“When it is the last night [of Ramadan], they are forgiven, all of them.”
So a man from the people said, “Is it the Night of Power?” And the Prophet (Allah bless him and grant him peace) replied, “No, do you not see that if laborers work, when they finish their tasks, they are given their wages?” – Bayhaqi (taken from Shaykh AbdulKarim Yahya’s Facebook status!)