First Time Home Buyer Tax Credit

There has been a lot of talk (and confusion) about the economic stimulus bill and what it means to home buyers. Who qualifies? What year can I claim the credit? How much of a refund would I get back? What are the criteria to receive the credit? So I'm going to attempt to answer the most common questions about the bill. Keep in mind, I am NOT a tax professional or accountant and always recommend when it comes to your taxes to seek the advice of an accredited tax professional.

That being said, the bill states that first time home buyers can claim a tax credit worth $8,000 OR 10% of the home's value, whichever amount is less. So, if you bought a condominium for $65,000, your tax credit under the bill would be $6,500, not $8,000.

Qualifying

In order to qualify for the credit, the home purchase must be made between January 1st and November 30th of 2009 (so if you buy a home on December 1, 2009 you are not eligible). In addition, there are income restrictions as well. To qualify, a single person must make less than $75,000 a year. Married couples must make under $150,000 a year. However, higher income buyers may receive a partial credit. You must also live in the house purchased for at least three years or you will be required to pay back the credit. The property being purchased can not be owned by a close relative like a parent, grandparent or one of your children. The definition in bill for a first time home buyer is anyone that has not owned a home in the last three years.

Tax Filing

The credit can be claimed on your 2008 or 2009 income taxes. Now as I said you can claim the credit on your 2008 tax filing. If you have already filed them, you can file an amended return to claim the credit if you wish to do so. Based on the feeback we've been getting, the process takes about 12 weeks. Another great thing about the credit it that it is fully refundable, so even if your total tax bill (refund) is less than $8,000 (and you qualify for that amount of a credit), you would still receive the full $8,000 back plus the amount you had overpaid.

For example, John's taxes showed that he had paid $5,000 in taxes over the year. He filed his return and he actually only owed $3,000 in taxes. Normally he would have received a refund of $2,000. But under this bill, he would receive the full $10,000 instead! To claim the credit on your taxes is just a matter of filling out the form, without any additional paperwork involved.

This is a simplified breakdown of the economic stimulus bill. I highly recommend consulting a professional tax service regarding your taxes. You can download the tax form here: http://www.irs.gov/pub/irs-pdf/f5405.pdf

Thank you for reading our real estate blog and feel free to contact us for all of your Las Vegas NV real estate needs.  

Source: CNNMoney.com

Disallowed ....

My husband was denied the 8,000$ credit because he is not considered a homeowner since his grandfather left him a coop back in 2004 ... the irs sure has a way of manipulating the system ... this is crazy ... so here it is 3 months later and I just sent in another amendment trying to get the 6500$ credit for long time homeowners, I am keeping my fingers crossed but this doesnt look all that great ...

Return processed in less than 6 weeks!!

For everyone who is discouraged and thinks that their return will never come...
I closed on my home on June 29th. On July 8th, I went to H&R Block, and for only $12, they filed an amendment to my 2009 tax return and I mailed the documents to the IRS that afternoon. After reading posts on this site for the past several weeks, I was getting anxious to know whether the IRS had received my return (so many of you have posted that your requests were being denied and/or returned for more information). So, not being able to wait any longer, I called the IRS on August 17th. I had to wait on hold for about 20 minutes to speak to a customer service representative and then answer what seemed like 101 questions...but at the end of all that, they told me that my return was processed and mailed on August 13th, ONLY 5 WEEKS after I mailed my return!! They said I should wait up to 2 weeks to receive my check (which I am sure they have to tell everyone, since it shouldn't take that long for delivery). I am hoping it will be in the mail any day now. And the best part is that I am getting $8,066! Apparently I am getting interest...not sure why, but I am definitely not complaining.

I will post again when I actually receive the check just to give everyone the update. To everyone that has been waiting...hold on and good luck!

never received mine yet

we closed our deal the end of April and moved in may 1, 2010, we file amended tax may 17, 2010, I called IRS, they said that it will take 12 weeks, I checked almost every two weeks nothing yet, when I called IRS said no information available yet, I wonder what to do next?

"good news" update

my original post on 8/2/10:
I've been watching this site for a few months now and was glad to see the comments getting better as far as timelines go. Closed on my house on 6/22/10 but didn't send in my forms until 7/21/10 overnight so the IRS got them on 7/22/10. I called last night and spoke to a nice woman to make sure they had my new address and just check to see if anything had been noted about it being received. She put me on hold for a minute and said it was processed on 7/27/10 and would be mailed in 3-4 weeks! Told me to call back on 8/16 and they should have the date the check would be mailed out. So obviously it has gotten faster. I only mailed the 1040x, 5405, copy of my contract showing I executed my contract before 4/30/10, and HUD...that's it...I didn't send in any copies of utilities or anything. I will post again once I call back and verify a date when the check is being sent out or when I have received it.

forward to 8/16, called last night 8pm cst-was on hold for 30 mins...got in contact with a very nice woman who checked my file and said my check is being sent out on 8/20/10 with $74 in interest, so if i receive it by 8/23 that is just over 4 weeks since the IRS received my forms. Will post again once the check arrives.

Still waiting...

My husband and I closed on our first home at the end of February. We filed our taxes on or around April 12th with all of the proper forms. Originally, when we went to the "Where's My Refund" website we were told that we would have our tax return by June 23rd. When that day came and went, I gave the IRS a call. Of course it's impossible to get a live human on the phone, but when I finally did I was told that our return went into the error department because one of our names didn't match our social security number. I told them that I was looking right at it and that they did and asked if they would like me to send another copy. I was told that it wouldn't be necessary and that it would be another 6-8 weeks before we saw our return. We never received ANY communication from the IRS at all regarding any errors or problems with our return, but we did call back several times. The last time my husband called and was told that we in fact did NOT file our tax return jointly (um, again, I'm looking right at it and we did!) and that we had NEVER filed jointly (yes, we did last year). He was told that we would see our check between the 15th & the 28th of August. We are getting no useful or detailed information from anyone. We just hope that the $$ is coming soon. It is comforting to know that other people have waited 5+ months and still received their check.

IRS Incompetence

I mailed my return in early June. Called for a status at the beginning of this month, and was told that my check was mailed to the wrong address on 7/30. An agent on the phone admitted that they likely had a data entry error on the number, and that I should contact my post office to see if they would assist. The post office stated that in this situation, it likely would be returned to the IRS but a new carrier was on my route. The IRS states that they still have not received it in return mail. Numerous calls later, they still refuse to put a stop payment on the check and the entire process to send a new refund will take around 8-10 weeks. I'm already in week 10 as it is. If the situation were reversed, the IRS would be calling daily and threatening legal action. I'm still calling daily to see if they received the check in return mail, but it's beginning to look bleak (I live in Alabama, mailed to Austin TX). It frustrates me that there is clearly a problem and that the check is clearly lost and that the IRS clearly mishandled my case, but nobody wants to assist on their end.

GET A TAXPAYER ADVOCATE!!

Finally, I have some hope! I was told that everything finally went through, and they should be mailing my check on Aug. 27th......6 MONTHS after I filed my amendment. There will be a little interest, (but only like $110 for all of you who might be wondering how much interest you'll be getting). After all the crap I've been through with the god-forsaken IRS, I feel like mailing that $110 back to them with absolutely NO information on it other than my name, so they have to work their butts off trying to figure it out. Anywho, during the process, when I was told my amendment was being sent for review, I immediately got an advocate. After reading a bunch of these posts, I figured I would need to. And omg I'm soooo glad I did. I've had the advocate for like 2-3 months. That's quite a while I suppose....but if I never would have contacted him, this IRS crap would STILL be going on for much much longer (I got audited and everything eventually, and had to send in more info a few times)! There was absolutely no reason to doubt whether I qualify for the credit....but it STILL takes forever (unless you are one of the lucky few) simply because the IRS WANTS to take forever. So if they pull this "up for review" crap with you....GET AN ADVOCATE!! Dealing with my advocate was annoying because I had to call numerous times before he would ever get back to me. But hell....I could never get ANY answers from the IRS, and my advocate actually did speed things up quite ALOT! And he also gave me a lot more information than the IRS was ever willing to give up. (Apparently they can look up your returns and see just about everything the IRS can see in your file.) Also, it says that you can only get an advocate if you're going through a financial hardship, but that's not true. When I called I told them that I can never get any answers from the IRS, and they had put it up for review. At that point their 12-16 week time limit was close to up (maybe a month more?) and they still assigned me to an advocate. So even if you're not having any financial hardships, it can't hurt to try. Good luck and hang in there! You'll eventually get it if you're truly entitled to it!

Denied

They said we was denied for the first time home buyer because my parents gave us the property. My parents gave us the property and we went to the bank and took out a construction loan and build a house. Does anyone know if we should have been denied over this?

Quick Return

I have been reading these posts and stories for a while now about people waiting long periods of time for their returns. So I called the IRS today and spoke with a very nice and helpful lady. I was only calling to see if they recieved my amended return. ( I did not send certified mail) since its only been a little over a month. I Closed on my home June 30th, 2010 and sent my amended return in July 6th, 2010. I included all doc. they required plus a copy of my change of address and a current electric bill showing my new address. Called today (08-13-2010) and the lady told me my return was processed and a check will be sent out on August 20th, 2010.. I wish everyone luck, Esp. those who have waited over a year...

Exactly 8 weeks

Closed in Phoenix on 6/10 Contract dated 4/27/10

Had accountant prepare package sent to IRS and signed for on 6/24 (Fresno)

Called today (7 weeks) check is in the mail today

Wait time for IRS 30 minutes to verify info

Seems like they are getting faster if you provide all of the correct documents (Signed purchase contract, signed HUD, and if you owned a home before proof of ownership for the required period) we used mtg interest statements

I suspect they are whittling down the backlog so turn around time is improving

Chris

Things getting better

Reading the most recent posts sounds like things are getting better. You all impress me with how fast your able to file. I closed on my house in late may and only now (mid August) have the necessary documents to file my ammendment. So the IRS received my package on August 11th. I'm hoping for the best.

I was going to do my own ammended return but ran into a lot of questions so I went to an accountant. Just thought I'd share what they told me for the people who have yet to file. I was told to include the following with the ammended return forms:

HUD-1 statement
Sales contract (since I bought my home in mid may)
Monthly Mortgage Statement
Drivers License with new address
Vehiicle Registration with new address

I also included a gas bill and bank statement. From what I read on the internet all the extra information was due to people filing for the tax credit when it wasn't really there primary residence.

And just a little constructive advice for whats its worth. Posting information to help others could actually come back to help yourself if you run into snags. After reading all the posts I found myself just skipping the "I came here to vent!" posts. I guess thats what blogs are good for too but I think most visitors are here to help or get help.

20 Aug 2010

Closed on home: 04 June 2010
Amended 2009 tax return: 07 July 2010 ( I was being pokey getting around to it!)
Called IRS last week and they said they received my return: 12 July 2010
Called IRS today to check on status: refund check will be mailed out 20 Aug 2010

I was getting nervous reading all the horror stories online so I just said enough was enough and I will just let it be, as I should have...: )

When I called the 1st time, the guy said that it typically takes 16 weeks, but that since it's not tax time, it shouldn't be that long...

Hope for the best for everyone!

Cheers!
Shannon

Good News!

I bought my house (land contract) on May 27, 2010. Mailed the packet of paperwork, with all documentation (including a copy of my entire land contract document, including both my signature and the seller's), on June 19 'return receipt requested'.

I then got the entire packet back in the mail on July 19, with a letter stating that they needed the HUD-1 document for my purchase. Well, you don't have a HUD-1 with a land contract.. So.. I called the IRS and the woman on the phone asked me what I had sent in, and said that everything sounded in order. She did say that I should have sent the copy of the land contract that had been stamped by the county as having been recorded. I called the lawyer who handled the sale and they provided me with that. The lady from the IRS also told me that I should:

1) Highlight all of the pertinent dates on my paperwork
2) put sticky notes on all of the pertinent information on my paperwork

I followed her advice, sent a letter of explanation (along with a copy of their original letter to me) and mailed it all back again ('return receipt requested', of course!) on July 21.

I called the IRS the following week to check on the status, and they said they had not recieved the packet yet (even though I had gotten the signed return receipt).

I called again the one more week later and was told, "your request is being processed, call back in one week".

I called back in one week and was told that "your refund has been approved, and your check will be mailed on August 20, with interest". Yea!!

So, all told the whole process took exactly as long as they had originally estimated - about twelve weeks. And yes, I did change my address with the IRS to my new one!! Hopefully my check arrives as expected..

Good luck everyone!

I mailed my amended forms in

I mailed my amended forms in on july 15, 2010 and I waited about 4 weeks and called and was told my check would be mailed on 8/20/2010. I am not sure of the speedy response was because my home was a new construction home and I closed on 7/8/10, so that was pretty darn fast or is it because I used H&R block.
Anyways, so there is hope because after reading these posts I was starting to worry. Good Luck!

got it

closed june 30th,
sent off to irs (not registered mail) July 6th,
received check today aug 16th.

condo:
I sent all 3
HUD-1 statement
closing sales contract with signatures
certificate of occupancy

I also highlighted in yellow: dates, amounts, & signatures.

Good luck
Thanks for posting your advice

12 weeks hugh

I purchased my home on May 7th and sent out my paperwork the end of May. They received my paperwork on June 1st. Starting calling in the middle of July. The first lady I talked with said it could take up to 24 weeks. WHAT? I called back the next week just hoping to get another response and I did. This time they said they received everything, and it could take up to 16 weeks to process. I called back one more time hoping to get an answer that they processed it and the gentlemen told me that they can reassign these to themselves and he would try but someone else has already started working on it. So he told me it would be more towards the 16 weeks and if I don't hear by then, to call back. Really. I was told 8-12 weeks now its 16 what is going on here. People are looking forward to this money and need it, could someone please help. I know some people have been waiting alot longer than I so I know but some people did not wait long at all.

Angry at the IRS

I closed on my home 12/15/2010 and filed my taxes end of January 2010 the same time as my accontant (who also filed her first time credit along with mine). I kept checking online to find the status of my refund, it said by the 04/30/2010 I should get a reply. On 04/30/2010 I got a letter from the IRS stating that they needed extra information to review my case (my accountant also got this same letter). We both prepared the information they requested: Copy of HUD, Drivers license, bank statements, copy of checks (cash purchase of property) made to seller, and utiliy bills, etc. Every single month since, I have been getting lettersstating that they recieved my correspondence on 05/07/2010 and to give them time (at least 5 different letters) I have also called every week since, just to make sure my files were updated and the information I had mailed off was there, just incase they said I was missing anything. On 08/09/2010 I called and the lady on the phone says that there is no records of me indicating that I ever mailed anything, and that they will be mailing me out a letter stating that my case has been DISALLOWED!!!! because I have not paid mortage interest??? Excuse my french but WTF!!! Clearly the IRS have dumped my files, and been giving me the run around!!!... First, my home was purchased CASH, it states that on the HUD and on the copies of the checks, another thing is that I have proof that they got my mail with the information because they have been sending me letters stating when they got the correspondents....and another thing,,,when I call why would they be able to tell me everything on my case on the computer. NOW ALL OF A SUDDEN it vanished in thin air? Is thislegal?

So the lady on the phone was not much help, so I hung up and called back speaking with another examiner who then says to fax her in everything today directly to her line and she will have my case closed. Now let me fill you in on a few things: my accountant got her credit from all the way in JUNE, so the bullcrap they were feeding me with about working in a time frame is rubbish. Also I got intouch with an advocate, I wasn't about to sit on my ass and let the IRS walk over me. My advocate on the other hand is supposed to get back intouch with me by the 08/12/2010.

I don't know what to do but just make a bunch of phone calls to see who I can get through to. I am in need of this $$$, I am a full time student and I dont work.

CAN ANYONE give me some advice!!!

IRS PLAIN LAZY!!! 6 MONTHS +

I guess they're so busy out spending their personal TAX CREDIT, because i'm sure it doesn't take this long for IRS employees to get theirs, they don't have time to move a little faster with ours! Closed on my home in Feb. 2010 and they're still dicking around with the papers. I'm a disabled vet so it's great to have to wait on the IRS to give me MY money, that I really need! I hope this Advocate can make something happen soon because GOD knows the VA is shitty. Take care!

IRS - ggrrrrrr

I purchased a home in March of 2009 and filed my taxes in Jan. 2010. Unfortunately, the title company had not sent me the Settlement Statement so the IRS disallowed the credit. I filed an amended return with the S.S., and 5405 twice upon the advise of IRS reps I have talked to over the course of 8 months and they are STILL disallowing the credit!!!! I can't believe it!!! They don't believe I purchased a home even though I have sent in all the documentation! I actually purchased a home and whoever is "processing" these tax returns are just tossing them aside! I, like you am in desparate need of this $$$$.

Curious

How did you close on your home in December when its only August? Maybe thats why they wont give you a check. Hopefully you just made a typo.

It takes time but you will get it

I never post anything but I've been reading posts on this site for the last 6 months so I figured I would post and let all the frustrated people know that you will get your check it just takes a lot longer than u think.

Bought house in May 09 but didn’t file until Dec 20, 2009. Filed my amended 2008 taxes.....certified return and called following week and they said they received it. Needless to say August 3, 2010 looked at irs website and it said check would be mailed 8/6/10 and sure enough yesterday it was in my mailbox....8/9/10

No matter what you send with tax return your return will probably go to exam department... I got $175.44 for interest so when you get upset and think it's never coming just remember it is free money and you will get paid interest.

Good luck

IRS TAX CREDIT

I closed in early Apr, Filrd on time and paid great attention to detail. It has been a fiasco trying to get the credit. Always put off. The Advocacy group is no help. A hell of a way to treat a 66 yr old quadraplegic Vet.

OMG

I have good news for once!

I have called the IRS about 6 times and always got the run around, or the response were they say that they cant help me and I just have to cross my fingers and pray... well I called them today and they told me to expect a check by tuesday!!!! The 5-6 month wait I guess is worth it in some cases! I just wanted to let everyone know people really are getting there money and to hold on cuz it looks like August is the month!

Looking Up!

I purchased my first home and closed on April 13, 2010 I mailed in my Hud 1 and Amended Return on April 19, 2010. The IRS sent my return back to me June 7 becuase I forgot the signature page on the Amendment. I sent it back with the signature and it was recieved on June 14 2010. I called August 5th and the wonderful lady said my case was closed on August 3rd and a check will be mailed out in 3 weeks. So starting from June it took roughly 8 weeks for them to process my return and a total of 11 weeks if my check is mailed in 3 weeks. Reading these posts I think it's just a matter of WHO receives your paperwork and how deligent they are with processing them. Judging by the post they seem to be getting better with the time lines, wish everyone luck with getting their money....... buying a house is nothing small and you dont realize the expense that comes with it no matter how prepared you are !

wasn't expecting it back so soon

Closed:

6/15

Mailed amended tax forms + closing paperwork:

6/22

After my bro and his gf getting their tax credit a year later (they were missing paperwork) and reading some of the entries here, I was expecting 4-6 months. That and the IRS probably being backlogged contributed to that expected time frame. I called in a week after I had sent in my amended paperwork in not certified (wished that I had for tracking purposes) and they told me to call in a couple weeks. Called 2 weeks later they said to call in a week. Felt like I was getting the run around, but called a week later anyways. They said could take 8 - 12 weeks for processing. I said fine, I'll just call in a couple months. So today I was working from home and decided I'd call them up just to see if they had even received the paperwork yet. The rep I talked to sounded like the ones before and just wanted to get me off the phone by telling me the same ol same ol garbage about time frames. I finally told him please just look up my account to see if I'm even in the system. He came back a couple minutes later and said the check is being mailed out tomorrow and I'll receive it next week. SWEET!!!!!! =)

Homebuyers Tax Credit In Roughly One Month

Filed amended return on 7/8/10
Accepted by IRS 7/12/10
Refund rec'd 8/9/10

If you include proper documentation, you stand a much better chance of receiving your refund promptly. If someone @ IRS cannot process your claim as you have not included the proper documentation then it will most likely sit in a pile until another person works on it.

#1 Always include a cover letter and enumerate the contents of your package. That way you have proof what you included and you know you have met all the requirements. It will help you later on if you need to use the advocates.
#2 Be sure to include either a copy of the 1098's, insurance bills, or tax bills to meet the 5 year ownership period
#3 Make sure you sign your amended returns
#4 If you do not receive refund or correspondence from IRS on a timely basis, ask the advocate to open a case for you (usually after 60-90 days).
#5 If all else fails, seek the assistance of your elected federal officials. Your congressional representatives or senators may be able to make contacts on your behalf . . . and for many it's an election year.
Good luck to all.

My son purchased his home

My son purchased his home over a year ago and still has not seen his rebate! He has sent the IRS document after document and they still will not send him his rebate. Now they are telling him it will have to go before an appeals court and if they rule againt him there will be nothing he can do about it. I saw in the news where prisoners in JAIL we filing false claims and receiving the rebate, yet my son who is being straight with them cant get his..... What is wrong with this picture. Does anyone know who can help.

Getting annoyed

My husband I bought our home back in Dec. 09. We filed with our regular return back in January 2010. We were suppose to get our refund in April. We have never been notified by anyone of anything being wrong with our return. We contacted the IRS in May. We were told it was a glitch on their end ...should be resolved soon. Then came June. We called them again and this time they said they didn't know what the problem is and if it is not resolved in thrity days I will be referred to a taxpayer advocate. July came and the taxpayer advocate contacted me and wanted me to send everything in..bank statements, DL, mortgage statments, copies of utilities, all tax papers, and even my vehicle registration. She looked through everything and told me there was absolutely nothing wrong with my return. Everything was in order. She investigated and found my return was unpostable five times. Now she sent my return to a guy in Fresno..she says I will either get my refund in a few weeks or I will go to a manual exam...wich means another three to six months of waiting. I wish I could at least have the regular part of my refund at least. I didn't expect this process to be going on this long. I know we will be one of the lucky ones to have to wait another three to six months. It is just our luck. I was really wanting to remodel the house because there are five of us in a 900 sq.ft. home. I just wanted to add on an extra bedroom. My oldest is starting his senior year to add to the financial stress. I would be happy with anything at this point. I have been told if I don't receive my refund by Aug. 23...then expect to wait until November at the earliest. This has gotten ridiculous.

first time home buyers credit

I know your pain. I sent my return in March and still waiting. Every time I call them it is a different answer. This is getting really ridiculous. I was counting on this money this summer. Looks like it is not going to happen.

i filed on june 15th . i had

i filed on june 15th . i had amended my taxes this year.. the house was purchased in may of 2010, i recieved my check in the mail today 8/4/10!!! not even two months!! yay!!

That was Quick

It's not always a terrible scenario.

I closed on my house May 27th, 2010.
Sent paperwork away to the irs in Kansas City on June 19th
They received it and signed for it June 25th.
I just got my check yesterday August 1st.

I actually called that morning, obviously not knowing that it was coming that day, and asked about it. She said it was a miracle how fast it got processed and they were going to send it out Aug. 20th, once i got home, it was in the mail box. She said that my paperwork must have been really neat.

It only took about 5 weeks processing and mailing time. Now i'm going to buy my big screen that i've been waiting for.

Refund took roughly 11 weeks

Just to give a clue to how long things are taking currently I sent in my amended 2009 tax refund paperwork with all the necessary documentation for my house purchase on may 17th and received my refund for $8K plus around $50 interest on august 2nd.

Good News

I've been watching this site for a few months now and was glad to see the comments getting better as far as timelines go. Closed on my house on 6/22/10 but didn't send in my forms until 7/21/10 overnight so the IRS got them on 7/22/10. I called last night and spoke to a nice woman to make sure they had my new address and just check to see if anything had been noted about it being received. She put me on hold for a minute and said it was processed on 7/27/10 and would be mailed in 3-4 weeks! Told me to call back on 8/16 and they should have the date the check would be mailed out. So obviously it has gotten faster. I only mailed the 1040x, 5405, copy of my contract showing I executed my contract before 4/30/10, and HUD...that's it...I didn't send in any copies of utilities or anything. I will post again once I call back and verify a date when the check is being sent out or when I have received it.

I closed on my house in May

I closed on my house in May and called in July they told me it would take up to 26 weeks to process my amended tax return. Hugh

Any Fellow Democrats Out There

Did anyone on this post vote Democrat like I did in the last election? This sure isn't the change I voted for. Another letter today with word it will take another month of 'evaluation' before anything happens. That will make it a total of six months.

IRS sent me $350... Wheres my real refund!

So i bought my house in may, 30 2010. I sent all my papers in. They sent me a letter asking for my signature and a copy of my HUD statement. I called them they told me what to do and told me a process starts over and would be 6-8 more weeks. Today the IRS sent me transfer to my bank account like $350. I have no idea what they sent this to me for... I hope they dont think this is my refund. They have me kinda nervous but im going to call them Monday. I hope its just a portion/%. IDK hope they dont try and rip me off.

Finally received credit after four months

My wife and I closed on our first home in August 2009. We filed our tax return in early April 2010. Early June 2010, the IRS sent us a letter asking for information to verify that our home was our primary residence, so I faxed copies of our vehicle registration, HUD-1 statement, bank statement, and license. July 2010, the IRS sent us another letter asking for more information, this time a copy of our most recent mortgage statement, which I faxed. And now today, I was looking at my checking account online, since it was payday anyway, and there was my refund deposited into it, with interest added. I wasn't even expecting it to be honest. But definitely a nice way to start the weekend.

I hope for those of you who are still grinding through the process that you all will get your credits eventually. After the first time I submitted my info, I called the office that was handling my tax return and got a canned response that they were really busy and couldn't check on my case specifically. After that, I just forced myself to accept the reality that this was gonna take time, patience, and faith in the instructions that the IRS was sending me. The waiting part really sucked, but it was difficult to complain about a situation that was mostly beyond my control.

I don't know if geography has anything to do with how credits are processed. But I live in Boston, and the office that was handling my taxes was located in Pennsylvania.

Good luck to you all!

Keep in mind...

To everyone who is getting interest on their return checks...

keep in mind that you have to pay taxes on it next year. Just the interest... not the $8000. Just be sure you pay the interest on it since the IRS will know you received it and will be looking for it. If you don't pay it then they might audit you!

1st time homebuyer tax credit

i amended my 2009 tax return on 5-5-10.i purchased a home 4-27-10.i mailed a copy of the amended return with a copy of my hud-1 sheet on 5-10-10.i got my check back for $8,072.00 which included $72.00 in interest on 7-19-10.so for everything i've heard bad about the process,here's a glimmer of hope for the rest of you.

Bought home in dec 09. I'm

Bought home in dec 09. I'm disabled, wife breaks ankle in Jan, out of work until june...so...have been waiting and NEEDING this tax credit since early march, when it was mailed. Recieved our regular refund in april, the 1st-time homebuyers was sent in paper and still not recieved. Early july got a request from IRS for tons of forms unrelated to the tax credit. I call IRS, am told by a really nice gentleman that whomever was working on our homebuyers must have been confused and thought it was our regular tax papers. WHAT? The form is quite different, and any comp check will show we recieved our return already. We are just barely hanging on here financially, I sent in the paperwork requested ( as suggested by the rep) and also , in large letters, an explanation that this was a homebuyers rebate(also as suggested). No response a month later...truly saddened by the entire episode.

Faster than I thought

I like to thank some of you for sharing your story. If I hadn't came up to this website before I sent in my admentment, things would've probably be different. Anyways I closed on May 2010, and sent in about 3 weeks later because I wanted to send a copy of my first utility bill. I also included copy of my DL, and a letter stating I used to live here and there for the last 2 years, and well as having HR Block admending my taxes. I got my money 2 weeks ago, Direct Deposited!!! What a pleasant surprise. Thank you IRS.

20 weeks...finally recieved the check

We filed in late February and just received our check on 7/26. 20 weeks and many many calls and letters back and forth. We had to send the same paperwork several times....received letters stating we were denied then called up and they said we were not. We had to send in countless info that we had actually bought the house including 4 mortgage statements, DL, motor vehicle registration, HUD 1 (SEVERAL TIMES), bank statements etc. I encourage people to call in and ask questions and talk to people....it seemed each time we did this something happened and the process moved along. I think that often times the info we got over the phone was more timely than the letters we received. It seemed that the letters were always old info....maybe it takes time to print and mail them ???? In some ways i am glad they are being careful not to give this away to people who don't qualify or are trying to defraud the govt...BUT they need to be honest to people about how long it takes to get this $$$$ !!!!!

I encourage people NOT to go out and spend the money until they actually have the check. Chances are you will have to provide additional paperwork and in my case....we were even actually denied at first and had to re-send paperwork. I'm glad to finally have the money (with a small amount of interest)...hang in there everyone. If you are legit and just keep sending them the papers they want....you will eventually get your money.

FINALLY!

Another update. I bought my place in October '09, I filed the next day. I got it confirmed that my check should be sent out July 30th!!, WITH $400 in INTREST!!! Yay!! Now I can get my car fixed!!!!!

Hold on, it WILL come!!!!

As for the people who think the people are complaining over nothing, KARMA is a bigger bitch than I'll ever be.

UPDATE

I GOT IT!!! W/ $414 worth of interest.

And those of you warning us about the tax on the interest, it sucks because it is THEIR fault it took so long, but I don't mind paying taxes on the interest since I would have to anyways.

I AM SO EXCITED. It took almost 11 months to get the money, but I paid off some of my bills, FINALLY GOT MY CAR FIXED, have some money saved, and now can breathe a little easier.

HOLD IN THERE... it MAY take a long time, but hopefully it WILL come!!!!

GOOD LUCK TO ALL OF YOU, even those being rude to the people complaining because they were jerked around. I have no hate for you, I am sure karma will teach you a lesson and you can UNDERSTAND why some of us were getting upset. All I'm hoping for is UNDERSTANDING, nothing more.

Praise God!!

We mailed in our paperwork May 25, 2010. Before I sent it in I called IRS and spoke to a VERY nice and helpful man who went over what documents to send in and told me to allow 12-16 weeks. I have been checking the IRS website every week to see if anything was posted bec I hadn't received letters saying they needed this or that. Last Tuesday (July 20) I called IRS back (just to see if I needed to send anything else in) and they said your check will be mailed on Friday July 23rd so allow 2 weeks to get it. Yesterday (Monday July 26) our check was in the mail!!! I am very grateful for this HUGE blessing and cant wait to find some furniture now =)!!

Phone # of IRS

Can I have the phone # IRS, regarding the $8,000 tax credit. Thank you

phone number

1-800-829-0582 ex 362. This is the only number I know to get ahold of anyone regarding this.

Told check is being mail Friday!!

Filed the amended return 6/15/2010..called 7/27/2010 and told the check is being mail on 7/30/2010...Hoping to receive it soon!! Keep the faith guys!!

Finally Received our Credit--Tax Advocate Huge Help!

I wanted to share my story because I know how frustrating it can be waiting. We received ours finally ONE YEAR after we applied for it.

Filed an amended 2008 return at the end of July 2009. Waited about 5 months & called because I knew how backed up everything was. Was told that "everything looked good" & was in processing & should receive a letter in about 2 weeks, if not call back.

Waited 2 weeks & called back. Was told I should be receiving a letter requesting more information. If I do not receive a letter to call back in 2 weeks.

Waited 2 weeks called back. This IRS employee finally actually looked I think & realized they were sending everything to the wrong address ( the address on our initial return filed in 2008, not the address on the amended--their mistake). So, I was told to wait a month & someone would either call or send me a letter by then.

Waited a month no call or letter. Called again & this time was told to send everything back in & highlight the mailing & physical address. I said but don't you already have that information there? And, they said yes, but just send the same stuff back in & highlight the addresses this time?! And, I asked the wait time if I did this? And, she said at least 4 months!?

At this point I was very disgusted because I didn't want to wait another year & it had already been 11 months since we applied for it. I called the tax advocate service & they agreed with me & assigned me a case#. My advocate had 5 days to contact me & she actually did! She reviewed everything with me & asked I send in pay stubs, mortgage statement, bank statement proving paid mortgages--all to show proof of address-- I had one week to mail her that information & she would ask the IRS to review my case again. She had 4 weeks to contact me again with more information. She did--this time sent us a letter saying we were approved. And, then a couple days later called & said what our check date was. And, then 2 days after our check date we received our refund with interest!!!!! Although you have to pay taxes on the interest when tax season rolls around!

So like I said it took us exactly one year after filing for it. But, if it wouldn't of been for the tax advocate service I don't know what would have happened! I am very grateful for their help & efficiency! So if you are frustrated & have waited more than 5 months & are getting NO WHERE with the IRS calls then I suggest calling them to help! Goodluck!!

still waiting waiting and waiting

I bought my house in December 2009 and filed the tax return in Feb 2010. Then wait wait and wait. At the end of June I recieved a letter from IRS Examiner Department said need more information from me then I sent those right after I recieved the letter. And now still waiting waiting, every time I call the IRS they just say my account is still under reviewing... sucks

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