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

Comments

We just got our check

We just got our check yesterday 7/19/10. We filed on 5/7/10! The check was for $8072.91. The $72.91 was the interest. It took 10 weeks total! Good Luck to everyone out there. Just try to hang in there.

Another update

Took two months to get my refund. Well partial refund. Looks like the IRS changed line 7 of my 1040x form because they didn't see my first amendment that was already being processed. H&R Block messed up on my original return and forgot to add my wifes college tax credit so I had to file an amendment which was my first amendment I filed. I then filed another amendment for this first time home buyers tax credit which was my second amendment for the 2009 tax season. I guess the first amendment wasn't in the system all the way when they processed my second amendment so they thought I did my second amendment wrong and changed line 7 on my 1040x form to be zero. Which meant I had $1500 more taxes I had to pay which meant I had $1500 less coming back to me on my $8000 return.

So now I'm $1500 short. They sent me a check for $6558 (included interest).

Talked to three levels of people at the toll free number. First person had no clue what was going on so she transfered me to an IRS Accountant. He looked into it more and after 30 minutes finally figured out what happened. He didn't know if I had to refile another 1040x form or if there was a special shortcut I could use so he transfered me to a Tax Lawyer. When I got to her, she basically thought I was crazy and said that I always have to refile no matter what which means ANOTHER 12 TO 16 WEEK WAIT!

The whole phone call took over two hours to do because of the wait times between people. And now I have to go back to H&R Block to get another 1040x form from them to file for my missing $1500. Which means I have to explain everything to them yet again. I didn't even understand it fully when the second guy told me what had happened. How am I supposed to explain it to someone else?

Oh well. I'm cashing my check tomorrow and start the process of getting a new wood fence built in my backyard. Kind of sucks I have to wait 3-4 months yet again for the last part of the money.

Sooo Frustrated!!!

I closed on my house September 28, 2009 and filed for the First Time Homebuyer tax credit with my 2009 taxes which were filed 2/12/2010. I am STILL waiting on my FTHBTC...it has been 5 months! I am so frustrated! The last correspondence I sent them was received by certified mail on June 17, 2010. I just got off the phone with a very nice woman in Utah who told me that they have no record of receiving it...but not to worry because it takes awhile by mail. What the hell does that mean! I am so frustrated and have no recourse except to complain on this blog. Thanks for listening! Please throw good energy into the universe for me...I really need that money and planned on having it way before now. I wish I could send them a bill for interest! :-)

HI FRUSTRATED, THE ANSWER

HI FRUSTRATED, THE ANSWER TO YOUR SNAIL MAIL QUESTION IS . SNAIL MAIL CAN GET LOST OR MISPLACED. YOUR BEST WAY TO GO IS E-FILE. MOST OF THE SERVICES OFFERED CATCH ANY ERRORS YOU MAY HAVE MADE. GOOD LUCK..

Snail Mail

About the snail mail. If you amend a return it must be sent in manually. You can not send an amendment electronically. And unfortunately because of a few bad apples placing false claims it has put a lot of honest tax paying people under the proverbial microscope. We closed on our home April 7th. I sent in our amended return May 7 certified mail on May 21st they signed that they received it . At the beginning of July I called to check the status of our return and they said it is under review and I would be receiving a letter 45 days from July 14th. I asked her what the letter entailed and she said she had no other info. It could be asking for more info or documentation or what day I could expect my refund. On Aug 10 I called back and they said a letter was scheduled to be mailed on Aug. 16. and if I had not received the letter by Sept. 30 to call back. But to keep in mind that it could easily be another 180 days for processing once they get the requested documents back. I said to her wait a minute you said you didn't know what was in the letter so how do you know it will take longer and she said very hateful MAM I AM JUST GIVING YOU A WORSE CASE SCENARIO . I will tell you though when we filed our taxes the first time we owed the State of Missouri $272 and after we amended the state said we owed an additional $175. So I called the state to confirm the amount and she said without the 1040x in front of her she could not make an assessment but let me know I would be assessed penalties and late fees because it was due by Apr. 15 and it wasn't her fault we chose to amend . So here I am still waiting on a letter from the federal side and the 17th I got a bill from the state of Missouri for $9.23 Are you serious?! So I am thinking since I still owe a tax bill that it has to be verified paid and I may just have to start all over. BTW all my taxes have been paid. So aggravated I am losing sleep. I have sent in everything they have asked. 1040x 5405 occupancy permit, utility bill, HUD settlement statement. Don't understand the hold up. But complaining won't change anything. I am happy for the few that got it quickly. Just out of curiosity is there anyone else from Missouri who is getting the run around? Good luck. I guess I will just pretend it is a savings account that I can't access.

Hang in there. I filed my

Hang in there. I filed my in October of 2009 and still don't have it! They requested the HUD settlement which I thought was very strange that they didn't ask for it on my original filing (I did an ammended 2008). I sent in the HUD settlement and they denied my claim. They said that I had claimed mortgage interest on my 2006 taxes. I sold my house in June of 2006 and bought the new one in October of 2009, so it had been 3 years and 3 months. I then sent them the HUD settlement from the sale of the house in 2006 and finally just got a letter last week saying I will get the refund of $8,000 and it will be 6-8 weeks. If it takes 8 weeks I will have been waiting a full year. I am going to be very curious to see if there is any interest coming with it.

BLIND LEADING THE BLIND

My parents are 78 years old and their home burned down in Jan 2009. They had rented the home for 15yrs. They bought a home in May 2009. Because they had not owed a home for 15 yrs they were eligible for the new home buyers credit. They sent in their tax return in Feb. 2010. They have called many times, faxed, and mailed documents the IRS have asked for. They received a letter in the mail July 12th stating that they owed the IRS $5,500.00 for not paying their taxes??? My mother has never worked and my father has been retired living of social secrurity for 16 yrs. Their yearly income is $22,000.00. The IRS is telling them they made $57,000.00. in 2009. IRS is also stating they baught a house in 2003. Totally rediculous. Because their car burned up in the fire they used the last of their savings to buy one believing they would get the $6000.00 tax credit. Totally true story. Not sure what to do next.

Tax Credit

I closed on my home on April 30th, 2010. That day, I called the IRS to find out what forms must I submit in order to amend my tax return and claim the $8,000 tax credit. I was told the only form I would need to complete and send in is a 1040X. I printed this form from the IRS website and mailed it the very same day. Six weeks later I called the IRS 3 times in the same day before I was able to get someone who knew what they were talking about. The 3rd representative told me that I needed to complete a new 1040X, 5405, and send in a copy of my closing settlement...Which I did that same day. Now the IRS is telling me that they must verify if I really purchased my home or not and this could take up to 6 months. This is a bunch of bull****! I was counting on this money so I could pay off some other bills. If I had known it would take this long I would never have bought my house. I guess the next step is to see what the government can do to help me stop the bank from foreclosing on my home....LMFAO!

The Government will do

The Government will do nothing they do not care it is all just a big money scam for people we put in office to get privately richer do you have a clue as to how many people in some kind of government office have investments in real estate. It is a scam they don't care it is just more of our tax dollars they can put in thee own pocket.

Usefull Information

How the first-time homebuyer credit works

The following rules apply to the first-time homebuyer credit:

* The credit is equal to 10 percent of the home purchase price, up to a limit of $8,000.
* If you qualify for the credit when you file your regular tax return, either your refund will be increased or your taxes reduced by as much as $8,000.
* You can keep the credit, as long as you own the home for at least three years.
* The credit does not apply to any home purchased for more than $800,000.
* The credit is not available if you buy your home from a close relative, such as your spouse, parents, grandparent, child or grandchild -- or a close relative of your spouse.

What qualifies as a principal residence?

It can be a house, a condo, co-op, house trailer or houseboat, within the United States. Vacation and rental homes are not eligible.

Who is considered a "first-time" homebuyer?

* You are, if you've never owned a home as your principal residence.
* However, you could qualify even if you’ve owned a home before, just not as your principal residence during the three years prior to the purchase.

Your principal residence is where you live for most of the year.

Important: Married couples cannot qualify for the credit unless both spouses meet the three-year rule.

Other restrictions on homebuyers:

* You must be 18 years or older on the date of purchase. If married, at least one spouse must be 18 or older.
* You can't be claimed as a dependent by another taxpayer during the year you buy the home.

mportant considerations for single people who buy a home with a co-signer or other single person

NOTE: Certain single taxpayers who purchase a home need to follow specific steps in TurboTax to claim the full credit. These taxpayers could include:

* A single person who buys a home with a co-signer, such as a parent,
* Two or more single people who buy a home together and only one qualifies for the credit.

If you are single and buy a first-time home as a part owner, you can claim the full credit as long as you qualify for the credit. You'll need to follow certain steps within TurboTax to ensure that you get the full credit.

For example: If you are a single person who qualifies for the credit and you have a co-signer or co-owner, such as a parent who does not qualify, you can still claim 100% of the credit.

When using TurboTax, indicate that you own 100% of the home as shown on the screen shot below. If you indicate you own less than 100%, you will not get the full credit, even though you qualify for it. Remember, though, there is only one credit allowed per home.

Married couples don’t qualify if EITHER spouse has owned a home in the past three years.

1st time home buyer

Home-purchase documents required by the IRS
On February 12, 2010, the IRS clarified its rules for signatures on settlement statements, in regions of the country where such signatures are not normally required. Please see below for more information.

For both first-time and long-time homebuyers:

* For purchasers of conventional homes, a copy of Form HUD-1, Settlement Statement, or other settlement statement, showing all parties' names and signatures, property address, sales price and date of purchase.
* For purchasers of mobile homes who are unable to get a settlement statement, a copy of the executed retail sales contract showing all parties' names and signatures, property address, purchase price and date of purchase.
* For a newly constructed home where a settlement statement is not available, a copy of the certificate of occupancy showing the owner’s name, property address and date of the certificate.

first time buyer credit refund

I closed on May 12, 2010. Filed amended return May 21. IRS received June 1. To make sure I send them all documents, I made copies of all pages (not personal information and all that) but pages of the mortgage documents that I was given at the title company on the day of the closing. I called IRS at 800-829-0922 begin_of_the_skype_highlighting              800-829-0922      end_of_the_skype_highlighting on June 15 to check statues, and make sure they received my amendment. After being on hold for about 10 minutes, I got a very nice female rep on the phone. She stated that there is nothing on file, that show they have received my amendment, and still had my old address on file. She was very helpful explaining how the whole process works and changed my address while I was on the phone, so all correspondences will be sent to the new address. She also told me that Amended Tax Return (Form 1040X) Information Where's My Refund? doesn't track refunds that are claimed on amended tax returns.
Amended/corrected returns may take 12 to 16 weeks, or longer, to process, not 8 to 12 weeks like it says on the form. Told me to call back mid July.

So, July 15, I called same number again. This time I was on hold for about 20 min, but it was worth it.
After I gave and verified my information with a male rep, I was told, that my amendment was processes and show in system " approved" last week (would be week of 7/4-7/10) which means, amendment was reviewed by someone, and qualify for $8,000 tax credit. So I asked him what is the next step by IRS and when will I be receiving check?
He stated, since it was approved, now file will be closed, check will be issued and mailed to the address on file. Could take another 2-3 weeks. I asked why it could take that long, was told that refunds issued only on Fridays, and if not processed on oncoming Friday, then will be processed the following Friday, plus mailing time, which is fine with me, I could wait few more weeks.

Will post comment when actual check in my mail box., to let you know, how long it took them.
Telling the truth, when I filed my amendment, and called them for a 1st time, and heard that there is nothing on file, I got little scared. Then, I saw all this posts, and that when I really got scared. I am a single mother of 3, just finally bought my dream house. 3 weeks later, my employer files bankruptcy, I'm left with no job at the time, no income.
Like I said, no check yet, but was told it's coming.

My personal advice, is when you file for 1st time home buyer credit, make copies of all the documents (not personal, income etc) but all mortgage, title related documents, that you got at the closing. Be patient, and call them every 2 weeks.

Good luck to you all.

Time frame changed again!

Well, just got off the phone with the IRS. They received my for July 9th, then she proceeded to tell me it is now 12 to 18 weeks from that date. Back in June they were saying 8 to 12 weeks. So, it's frustrating, but really hard to say when it comes to the IRS. :(

I GOT MY CHECK !!!!!!!

Okay I sent my papers out in the mail not certified on June 16th,2010. They were received my the IRS and in the system 1 week afterwards. I received a notice dated the 12th of July stating they credited my account the tax credit and if I had not received the check already that I would within 2 weeks. Well the 14th of July I GOT MY CHECK! WITH INTEREST! This only took a month! The check and notice came from Texas even though I mailed to fresno, CA location. All i sent in was my hud 1 settlement statment with all signatures, the amended tax return done my a trusted CPA and God blessed me!! So keep your heads up and you will get yours too!

9 Months and Still Waiting!

I've been waiting 9 months, with multiple letters. However, earning 4% interest on that 8K is much better than what I could be doing with it now.

Denied

I just found out from a representative that my first time home buyer credit was denied. She could not say the reason but that a notice is in the mail that explains why. I did a lot of research prior to purchasing the home to make sure I would qualify. Below is the scenario IRS has on their website which pertains to my situation. I own a condo in Fl which has been rented since 2005. I purchased my principal residence in TX on March 30, 2010. Per there description below, I would qualify since I have not lived in the rental property for within the past 3 years. I'm curious to see why I got denied. Hopefully it was a filing error or something. I even filed it through H&R Block to make sure it was done properly and they even confirmed that my situation will not be a problem. In any case, curious to see if anyone has any input or suggestions.

Thanks!

IRS Scenerio
S3. A taxpayer owned her principal residence. Several years ago, she decided to relocate to a rented apartment, but did not sell the former residence. Instead, she rented it out to tenants. Now the taxpayer plans to buy another house and make it her new principal residence. Does she qualify for the first-time homebuyer credit?

A. A taxpayer who owned rental property within the past three years is still eligible for the credit. The taxpayer cannot have owned and used a home as his or her principal residence within the last three years.

Rental

I had the same issue happen to me.

I had to do the following.

Amend my 2006-2007 return that showed my mortgage interest was claimed on Schedule E and not Schedule C.

I responded to the letter with the following.
Copy of Amended returns.
Voting history for principal residence
Copy of Car and driver license that shows prior principal residence.

Haven’t heard back, but you would think this is enough proof to show your primary residence.

wait for the letter to come

wait for the letter to come in and if they denied you because of the condo then appeal it with proof that you rent to tenants and that you haven't lived there. if they deny for something else and you can prove that then do it. keep fighting i have been denied three times and can explain everything that they denied me for and i am still fighting and it will be a year in sept 8 that i sent my paperwork in. don't give up and let them win especially when you made sure u would qualify. good luck

We are also first time home

We are also first time home buyers. Filed taxes in the beginning of Feb. We were asked to send more info in April. I did that as well. I have called back in to the IRS every week now for 12 weeks and guess what, a different answer every time I call. I was told 4 weeks ago this week or next. It was that way until this week. I was now told the first time home buyers was denied and that the return would be mailed to me on the 30th. How can I get a different answer ever y time I call and now this.

i closed on my home may

i closed on my home may 28th, sent in 1040x, form 5405 and copy of hud 1, i sent it certified and they got it june 15th, called irs today to check that my address had been changed, and was told that my fthb credit was approved and i would have my check in 3-4wks :)

I have been reading some of

I have been reading some of your comments. I pray that I don't have to wait that long. I have just started the process, so I know I have a long wait ahead of me.

-06/24/10 - Closed on house and all paperwork finalized.

-07/12/10 - Sent paperwork into IRS next day delivery with signature confirmation. (It was signed for 07/13/10.)

Hopefully they don't try to say that they received it at a later date. I will keep each and everyone of you in my prayers that you receive your money soon. Please pray that I don't have to wait a year. My heat pump/air condition just went out last week and I really need the money to heat my house for the winter. I have three small babies that I don't want to be sick this winter.

I closed on my house on June

I closed on my house on June 4, 2010. I mailed off my amended tax return on June 9. I called on last week and was told that my check would be mailed on July 16, 2010. I know that was God himself. I have a few amenties that I would like to add to my new home and that money will help me. I did not buy a house just to get the tax credit but it does help. Because of those who scammed and committed fraud when the tax credit was offerred last year we have to wait longer. I am one of the blessed ones my wait will not be that long. Times are hard and people need whatever money they can get. I called to see what information I needed before I sent in my informaton.

bull i swear i hope none goes through this

I closed my house on aug 17 2009 sent my information sept 2009 ..i had to resend my info in dec AGAIN ..Kept getting letters and the run around onthe phone i was supposed to get my check plus intrest in may now its july and they realized that they "accidently charged me 8000 dollars in taxas so now the balance is $0 . So now they have to resubmit my information and now the atlanta office denied my claim because we already went through processing...i am so mad because now i have to appeal or something i should have known this homebuyer tax credit was a joke they messed up now they dont want to pay?? what is up with that? I m still waiting and its july

Got my check after 6 weeks

Hi. I've been reading these comments regularly, and expecting the worst. I closed on my house May 6th 2010 (signed contract back in March). I sent in my amended return and forms, along with the HUD statement and the applicable pages of my contract showing the signed date. I mailed it via FedEx, and it was received by the IRS on May 28, 2010. I decided I wasn't even going to call for the status until 8 weeks had passed. But I received my check in the mail yesterday, just 6 weeks after filing! And I was paid $27 in interest.

If there are any visitors out there checking for people's experiences like I was, just know that sometimes the process can be quick and painless. I think it's just hit or miss, and it probably depends more on whose desk your return ends up on more than if you filed the correct paperwork.

For all those still waiting, I wish you the best of luck!!!

need to sell

okay
we got the 8000
which was a blessing

but now
we are forced to sell our home after only a year
do to the fact my husband has lost his job

whats the proceedure to pay back
the 8000

Pay Back $8,000 HB credit

If you bought in April 8 2008 - Jan 2009, then you much repay your $7,500 loan back in full at the time you sell you house.

If you bought your house after Jan 2009, Check out this IRS website, scroll all the way to the bottom where its says "Repaying the Credit"
You should wait at least 36 months before selling your house, then you can keep the credit.
http://www.irs.gov/newsroom/article/0,,id=206293,00.html

I dont think that you have

I dont think that you have to py back the $8000 tax credit.It is yours to keep.Good Luck

I was refused my tax credit

I was refused my tax credit due to paying taxes on a mobile home but I was told by my lawyer that I could claim tax credit I'd mobile home was not on foundation . Is this true?

Mobile Home

Sorry, if you owned a mobile home, you owned a home and cant claim the credit unless it was not used at your primary residence (i.e. time share, vacation home, etc) and can prove it or if you have lived there fore more than 5 years.
Check out the IRS website for qualifications...
http://www.irs.gov/newsroom/article/0,,id=206293,00.html

IRS Process

Every time i call the IRS, i get a different answer. It really depends on the person you talk to, you dont like the answer, just call back the next day.
IRS - 800.892.0582 ext 462
Last week the person i talked to told me the FTHB credit was processed successfully and their system would update over the weekend and the check date will be assigned (date check is sent). I called today and i was told that the credit was processed but it will take up to 30 days for the check to be assigned/sent out.

Good Things to Know:
1. If you purchased a home - be sure to send in your HUD statement and Closing Papers. Other things like utility bills for the new address help to prove you live there. Make sure all papers are filled out and dated correctly. Lots of people got letters requesting their HUD statments, when they already had sent them, but they were missing a signature or date.
2. Call to validate IRS has received your amended tax papers, as where my refund doesnt check amended taxes.
3. Once IRS has recieved your papers, validate they have the updated address, this way you wont have your credit sent to your old address!
4. If you filed for the Home Buyer Credit after April, you should be getting your credit soon, as the turn around time is quick, as the tax rush is over.
5. Only call once a week, if you must, IRS system updates on the weekends.

Good Luck! Dont give up!

Bull bought house (closed)

Bull bought house (closed) on Feb 6 2009 sent claim in with 2009 tax return with all of the paper work did not get answer until July 2010 and than got told have to appeal they do what ever they want when ever they want.

3-4 months is not that long for an 8k gift

I filed for my credit 4 weeks ago, got a letter saying it's been received and is being processed. I read up on the IRS website before I filed and wasn't counting on getting this money for 4-6 months. I also knew it would come in the form of a mailed check from reading the website. It's not rocket science.

I'm honestly sort of disgusted at the sense of entitlement and irrational anger displayed by some of the postings. "I want my money"? They "owe" you the money? Give me a break. You are getting something for NOTHING and should be grateful. This was a GIFT from the government to help boost home sales. I agree with the poster who said if you need the tax credit to make a mortgage payment, you have no business buying a house in the first place. Banks will give you a loan even if you have something like 45% DTI BEFORE taxes. For most people, that's not a realistic ratio for basic survival. But it is each individual's responsibility to do a budget before buying a home. And if you bought a home just to get 8 grand, that's just misguided and may end up with you losing the house once that 8k is gone.

I'm very sorry for people who are unemployed, as that's tragic and awful to deal with. But if one of you is unemployed and you can't make a mortgage payment on the other's salary, again, why buy a house? Rent an apartment, something within your budget, etc. Ranting and raving about how the "evil Govm't" is ridiculous as they are GIVING you money for free. You'd complain about a gift? THAT is rude, people. And yes I do feel completely justified in making this statement as it's just pure common sense. If you can't afford something, don't buy it. It's truly that simple.

Some of us are not whining for no reason!!!

Just to let you know!! I purchased a home in June 09 filed July 09 ammended return, Now Aug. 2010 still no FTHBC!!! I received first letter Sept. that would know something by Oct. received under review Nov. ( All info was sent orig. in July by my Accountant) Jan. received letter disallowing me. Sent several letters and faxes from Feb. to May. No response!! Accountant resent info to appeals in June, Now Aug and still waiting. So WE ARE NOT BEING RIDICULOUS!!
This tax credit was designed to promote home sales, I think it did its job, but when you are promissed the 8000. credit you are not told it will take 13 months to receive!! So you need to UNDERSTAND what others are going through with our fine government who makes promises that they may or may not keep!!!!!

Thats cause you got your

Thats cause you got your money already you idiot. If you were still waiting you would be upset too. Go blog somewhere else.

I bet

you'd feel differently if you waited over 10 months, especially when they keep telling you it will be within a certain time

Govt 'gives" me nothing

I disagree with the comment that the government is "giving" home buyers something. Where do you think the government gets it's money. From taxpayers like me and presumbly you. If they didn't tax us to death we would all have more cash to spend on necessities like a home. I'll trust myself to decide on where to spend money more than the government every time.

who to call

do you all have a phone number or website you can post so i know who to call or contact. I sent my stuff in around may 24th or so, and just want to check on it

IRS Number

If you filed for the HB credit in your normal tax return, you can check your status on WHERE MY REFUND on the IRS website. Google it.

If you amended your taxes to get the HB credit, the status will not show up on the website WHere my Refund, you need to call.... every week if necessary, once a week, as they update their system on the weekends...
800.829.0582 - ext 462, be nice...

WOW

Mailed amended return July 1st...Called July 8th..Was told that all info has been received and being processed...should receive check within 2 wks...Hooray!!!!..

MY HUSBAND AND I CLOSED ON

MY HUSBAND AND I CLOSED ON MARCH 3,2010.WE FILED OUR AMENDMENT RETURN ON MAY 7,2010.WE RECEIVED A LETTER ON MAY 20,2010 STATING THA A SIGNTURE WAS MISSING FROM THE DOCUMENTS.I SIGNED THE PAPERS AND RSENT THEM BACK TO THE IRS.JULY 6,2010 THEY STATED THAT THEY HAVE RECEIVED MY AMEDMENT RETURN BACK ON THE 24TH OF MAY AND THAT IT IS BEING PROCESSES.THE REPRESENTAIVE STATED THAT IT WILL TAKE AN ADDIDTIONAL 12-16 WEEKS BEFORE I HEAR ANYTHING.IM JUST WAITING.REALLY NEED THE MONEY.

336 Days...

We had four denials for four different reasons that I had to prove they had wrong...at one point they approved it...only to get a certified letter the next day saying we didn't. It took us 336 days to FINALLY get our check.

This was due to the IRS putting the cart before the horse...they were NOT prepared for all of the fraudulent claims...so the ppl that were honest first time home buyers have had to pay for it.

DO NOT GIVE UP! I think that is a plan...I wonder how many ppl get tired of all the BS they have to go thru, and eventually throw in the towel. Call your state tax payer advocate service....they are the BEST defense you have...

I have a yahoo email at ericlizerickson if anyone needs more info.

Liz

Stringing you along

I purchased my home in sept. 2009, sent my paperwork in oct.3 2009. i have had one excuse after another about my check. it is now he end of july, 10 months.. will i get paid intrest on the credit for all this time.. my bank gives me 3% intrest a month.. the overment shoud give me 4% a month..

I closed on my home on May

I closed on my home on May 12, 2010 and the IRS received my paperwork by May 16,2010. I called the refund hotline and it kept prompting me to enter my ss# followed by * the exact same way it was written on the notice. Keep in mind I never received a notice, I was able to talk to someone at the office and they informed me that my check was mailed out on July 2. Unfortunately no one at the IRS office was compotent enought to mail it to the address that was on the amended paperwork. I'm now waiting to find out what has happened to the check. Either way there is hope out there and it seems they are truly catching up on the returns. Good Luck to everyone

Filed June 17th

Like the more recent posts I closed on May 26th and filed my amended return and they received it on June 18th (return receipt requested). I had also filed a change of address form about 2 weeks before my amended return to make sure they had my new address in thier system (was told this was a huge issue with wrong addresses). I called today, July 7th, to see if the address had at least been updated. The woman I talked to was very nice and said it had been updated for both myself and my husband. I thanked her and was ready to get off the phone. She then asked if I wanted her to check on my FTHBTC paperwork. I said sure but didn't think anything would be available since it hasn't been a month. She check and said nothing was showing in the system yet. She asked when it was filed and stated that it wasn't in the system due to it being to short of a time period of when they received it. However, she did tell me to be assured if I got the return receipt that it was there and being processed. According to her anyone that has filed an amended return after May 1st the process has been a little quicker now that they are catching up on past returns and the influx of regular returns in April. She said 6-8 but can be as long as 10. So there you have it. We will see what happens and I will report anything new as soon as I hear anything.

UPDATE

As I said in my earlier post IRS recieved my paperwork on June 18th. I know it isn't exactly 6 weeks but figured it was close enough and called. The woman verified my information and put me on hold again. 10 minutes later she came back and told me my check, with interest, will be mailed on July 30th. Now, I will believe it when it is in my hands and I will update once received.

First time home buyers credit

What number did you call to check on this information? I can not find a site to provide a number.

Phone Number

800-829-1954 Use the automated system. When they ask if you filed before June 15th push whatever the number is and it will put you in queue to speak to someone. It takes about 15 minutes to get through but have patience!

We closed on June 7th. I

We closed on June 7th. I mailed the amended return paperwork on June 13th and according to USPS delivery confirmation, the IRS received it on June 15th. My husband called and talked to the IRS today and our return has been processed and the check is scheduled to be mailed July 23rd...with $44 interest!

Well crap i dont think i

Well crap i dont think i updated my address with the irs, it is on the hud 1 form i sent them, guess i will be giving them a call to get that fixed, can you update your address with the irs over the phone? I mailed my forms june 10th and sent it certified, it shows them as of getting it june 15th, i was going to wait longer to call but maybe its best i call sooner rather then later

Make sure you have the correct address

I filed in aug 09, I made sure my address was updated, I called in dec. They said they sent some letter to my former address, this went on for 2 months I finally get a notice of denial at my current new home because I failed to send in requested paperwork, called them and went thru the advocate got it in a month....and 400.00 intrest.

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