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

TAX Credit

Thankful for the tax credit, but it does take a long time still waiting since end of February. I cant get mad, because it s a blessing to recieve something like this. Thank God for America.

ARGH

I was told I would hear the decision by June 27th. Well it came and went. WTF?! At least I have it in writing and I can call AGAIN.

Here we go!

I just called the IRS number (800-829-0922) above to get status on my refund. After entering my info ( ssn, filing status and refund amount) it said to enter the ssn followed by an * that was on the notice they sent me. I havent received the notice yet and a little scared of what it might say. I sure hope this doesnt turn into one of the nightmares I have read about on this site. I could sure use that refund in a timely manner since we too bought a fixer upper.

RE: Here We go!

When I called to check our status, we got that same message. After entering the ssn again minus the star because we obviously did not have a letter or star, we talked to a rep who let us know that our check would be going out in 2 weeks!!! YEY! So call back and get that confirmation!! Good luck

Crossing Fingers

Does anyone know how long it takes to review your 1040x and 5045? I sent in all of the needed docs on May 11th, called the IRS last week and they said it was being reviewed. Just wondering if I am getting close to receiving my credit.

After reading all the problems everyone has faced I feel like I will be extremely lucky to receive anything at all.

One more question...If I requested my refund to be direct deposited will I have to wait for it to come by mail? I could have sworn I read somewhere on here that they wont DD a refund this way, only mail it it you.

Thanks for any help. I am crossing my fingers for all of us.

they will only direct

they will only direct deposit if it is not an emended return. If it is an emended return they can not do direct deposit. An amended return is when you have already filed and recieved your taxes and then you amend it to claim the house credit. Hope this helps.

Direct Deposit vs Mailed Check

If you requested the first time homebuyer credit with your normal tax return, and you requested a direct deposit, then your credit will be direct deposited.

If you amended your prior tax return for the first time home buyer credit, your $8,000 check will be mailed to you.

I'm not whining! I only want what I was promised

First off, people who criticize other people who already got there tax credit please refrain from your comments! We all want our money! When the IRS needs there money they make sure they get it! It's not like they are poor like you assume we are for wanting what we are promised! I'm not an idiot I know how to pay H&R Block to fill out a 1040X completed with my HUD 1 signed papers! Yes I mailed that stuff with all signatures and papers!

Closed on home- Feb 17th 2010
Sent papers March- 3rd 2010
IRS Received papers- March 9th 2010
Got letter in the mail asking for more..... info- June18th 2010
Faxed all docs needed to them- June 24th 2010 HUD 1, 2 utility bills, mortgage statements. that is all they asked for.
Also the IRS never claimed they lost the HUD 1 papers. It was sent to another dept of the IRS and they are not able to get the HUD 1 papers from the first place our papers were processed. So in which has nothing to do with we didn't sign this or didn't send that.
So on that note we all are in the same boat and know how to follow directions. Those of you who claim you don't need the money, your full of it and are happy you are getting it!

first time home buyers tax credit

I had filed my taxes back in Feb. 2010 . I was supposed to get my tax credit April 13, 2010. I received a letter April 12, asking for more info to support the deductions I claimed. I then received another letter in May asking for proof of ownership, copy of mortgage statement, copy of bank statement and copy of my drivers license. I sent this info the next day just to get a letter dated June 14, 2010 stating they have received my info and will review it and I should receive a reply from them within the next 30 days. I then received a letter dated July 5, saying that we should get a reply from them by August 8, 2010. Today I called the number that was on the letter just to be told that they are backed up and they haven't even gotten to my info yet and mine return was audited because the sale wasn't on record with the state of NC.I was then asked to give them some more time. WHAT ELSE COULD I DO? I said ok thanks

refund

I am having the exact same problem. Did you ever get any resolution? If so, what did you do? Like you, I have sent them the paperwork multiple times and am still getting no where.

FINALLY!

i purchased my home in december. i filed my taxes in march. i got a request for my w2 (which i had of course already included) in june.

deposited my paycheck in the bank today and got my balance. the entire refund was finally there!! good luck to you all!

RE

CLOSED ON HOME OCT 31ST
SENT PAPERS FEB 1ST
GOT LETTER ASKING FOR MORE PAPER MAY 2010
STILL HAVENT RECEIVED MY MONEY

AGREED!!!

I read and agree with your previous post. The reason I'm on this website today is also because I'm very disappointed in the entire process pertaining to the homeowners tax credit for 2009.

Your outlined timeline is very similar to my own. However, I purchased my home in 2009 and submitted my taxes through H&R block with all required documentation in FEBRUARY! Like you, I still have not received the tax credit or any delivery of funds date.

Its upsetting because when I (and I'm assuming you) filed my taxes I was given a 10-12 window for the credit to be delivered. I roughly planned my expenses according to this promise give or take a few weeks. Never would I have guessed it would take 5 (and who knows how many more) months before I would hear anything tangible. I wish I could be so delinquent on my own debts.

The number to check the

The number to check the status of your return is 18008290922

The Waiting Is Almost Over

Hip Hip Hooray!!!!!

Progress has been made in our journey to receive out FTHBTC. We received a letter from the IRS dated 6/24/2010 stating that we have been approved to receive our credit plus interest in 6-8 weeks. That's OK with us. We know that it is coming. For anyone that is beginning to tire, please don't give up. We started this process in November 2009 and it may be close to November 2010 before we actually receive any money, but that's OK because we know it is coming, WITH INTEREST :-)

Never thought the day would come!

Purchased my home in December of 08' Cincinnati OH. Amended my tax return in April of 09' to claim FTHB credit. Waited 12 weeks before even bothering to check on status. Called IRS for the first time and was told they had recieved the return and had not been looked at yet, wait 30 days and call back. So the next time i call they tell me it is going to review and has to be assigned to an examiner wait 30-45 days and try again. I call them back around 45 days and there is no update to my return. At this point i am getting tired of waiting cause it has been it has been over 20 weeks and nothing has happened. I continue over the next 20 weeks to check on the staus and finally get to the point I really don't care anymore. Around the ten month period i randomly recieve a letter from the IRS requesting documents to prove i bought a house. I get all the documents together which and send them to IRS. Surprisingly the send me a letter in about a week acknowlingly they recieved my papers and would have a response in thirty days. Just after thirty days I recieve a letter stating that they have allowed my claim for a refund and should recieve payment in 6-8 weeks. I couldn't believe when it showed up in the mail after only two weeks, 6700.00 plus 307.06 in interest, now thats a record. All said and done it took 13 months before I ever recieved my credit. I do believe this is the IRS's way of getting as many people to give up and not claim the credit. The thing that gets me most is why they waited so long to ask for documents. When i filed they did not tell you to send anything with the amended return just the 1040x forms. I have to pay this credit back also not like mine was free money like it is now. If you are filing for the credit expect 8-12 months not weeks.

Phone Number(s)

I see that a lot of people have called the IRS to check the status of their credit. My big question is WHAT ARE THE PHONE NUMBERS ????

Money on it's way

Let me first preface this by saying how impatient everyone is being. From the get go it was explained that this process takes a long time.

The IRS only employs so many people and they are receiving thousands of these amended returns and other documents a day (far more than they have personnel to handle). Anyone who has worked for goverment knows the realities of this situation - it takes forever for things to get done, but they do get done.

Don't want delays? Read the instructions! It's fairly clear what they want and you WILL delay things by sending documents they don't ask for. Only send what they require (a copy of the settlement document if bought this year), and nothing else! Unless they send you a letter requesting additional documents, don't do it, as it WILL cause a delay.

My timeline:

- 04/13/2010 - Closed escrow and purchase finalized
- 05/01/2010 - Sent amended 2009 returns and HUD1 certified return-receipt
- 05/28/2010 - Received return receipt card indicating delivery made 05/09/2010 (why the USPS took so long returning the receipt card is beyond me)
- 06/24/2010 - Receiverd letter dated 06/28/2010 that the amended return was processed and that everything is good to go, and that I should expect a refund by mail or direct deposit within the next 2 weeks.

So, it looks like I will be receiving the money very soon, I'm guessing I'll get it some time next week since this letter was post-dated. Bottom line: be patient! You will get your refund.

They are NOT trying to screw you. Some of you are screwing yourselves with your impatience. I never called, not once, because I understand that these things take time, and not only that, I was advised as such by their website (minimum 12-16 week processing time).

I really don't understand why anyone thought that a) this would be a fast process and b) why many of you seem to be in such dire straights that you need this money (IMO you have no business buying a house if you needed this money to survive on in your purchased property).

You were very lucky to get

You were very lucky to get yours in such a timey fashion. But please don't be so condesending to those of us who are getting impatient. I filed my amended return in oct. 09 and have followed instructions to a tee. However today is 7/22/10 and I have still not recieved my check. I am not complaining, I am grateful to have the possibility of recieving this check, but realize some of these returns are going smoothly and others even though we have been precise with our instruction are not. It is only natural to begin feeling frustrated and a bit crestfallen after such a long process.

we bought our house cash...

we bought our house cash... so we dont have a mortgage but it took all that we had to do so.. and now we would like the cash that is owed to us... Not all of us are apparently as well off as you that you feel if we need this money then we had no business buying a house.

In response to "money on it's way"

Not being rude, but considering you have only waited 2 to 3 months for your refund is pretty good. Yes, the IRS said it would take 3 to 4 months....but I am going on a YEAR. I waited my 4 months until I called to inquire so I think I have been MORE than patient. And, it is ridiculous to wait this length of time because some people bought a house & were excited to use the tax credit to buy new items for their house. And that is exactly what the government wanted people to do with that money so it was put back into the economy. So you can not really judge when you haven't even waited the length of time they said. Plus you say people have no business buying a house if they need the credit? That makes no sense because 1) the credit was an incentive for people to buy a house. And, 2) if people really could not afford a house then they would have never been approved for a loan.

This is a site where people can share their stories & upsets about this tax credit, so just don't read the posts if you get annoyed & are going to be mean about it. That's great you received yours so early, but try waiting a year or longer....you would not be this patient as you try to portray you are.

And, I just wanted to say my piece because I thought you were rather rude I won't be responding to you again.

How rude! Some of us can

How rude! Some of us can afford a home, HOWEVER, we need the money for some upgrades on the home we just bought! Every circumstance does not mimic your own so do not be judgemental. I have waited 12 weeks for my credit to this point and have called the irs 3 times just to see if they received my paperwork. All 3 times I was told they cant even see that information in their computer system and to wait another 30 days and call back. Are you serious? After 12 weeks you cant tell me if you even got my info in the mail? I just wanted to make sure I sent the proper paperwork because there is so much controversy as to what the appropriate paperwork is. I have no idea what to do from here or even who to call at this point. I am very frustated as others are and do not need someone with such a "holier than thou" attitude to tell me to have patience! CAN IT!

No news yet.

I filed on May 26th of 2010 and they still cant tell me if they have even recieved my paperwork either. I dont know what to do, should I sent it in again or not?

Money on It's Way

I think your overreacting with telling people what they should and shouldn't think. I think this is the government. Also there have been scams in the past that are holding up our money. I turned in everything in time, my dates are very close to your dates of closing on the house and sending in the paperwork, and still I haven't gotten my money, So i think everyone is on a case by case basis, and its not that WE ARE DESPERATE FOR MONEY, for me, its just that i'm tired of looking at issues with my house and i'm anxious to get my house 100 percent the way that I want it

First of all who are you to

First of all who are you to criticize people who want there money. Unexpected things happen in 12 weeks!! OR MOORE! Like loosing there job or getting an injury ect.
I have been patient!! It has been six months! I have not even recieved a letter telling me anything!! They made a mistake which I found out by calling which they hadn't even put in one of the files it needed to be in to get looked at, so if I wouldn't have called the mistake would still be sitting on someone's desk! They transferd my SS wrong on a form and it took 3 months to fix!! That is rediculous if the tables were turned I would owe hundreds of dollars in intrest and they would want there money now so why shouldn't we?!! They told me I didn't do anything wrong, they have bla bla bla weeks from the date they made the mistake to recover from it. Every time I call they say we have X amount of weeks! When does it end? I would feel better if they would send me a letter telling me they made a mistake or something!! Insted of leaving me hanging. You would be angry too if you didn't recieve any letters and you were still waiting on your money! I am not only waiting on the house credit I am waiting on my regular income taxes!

I was told 5-8 weeks, it's

I was told 5-8 weeks, it's been over 9 months!

Wow...thanks

I so needed to be lectured by someone who has absolutely no idea about my spending habits or financial situation. How dare you chastise anyone! Many people bought homes with the FTHBC as their downpayment. Others find themselves out of work AFTER they purchased a home with their savings depleted. Regardless, it's their money and they are entitled to it in a timely manner. I could care less if you waited or not to call the IRS. If I hadn't, I would NEVER have even gotten a letter. They couldn't figure out what they even needed from me. I've had two, yes two, advocates working on my case, wrote a letter to my congressman as well as senator and am now FINALLY getting somewhere.
I love people like you who sit in judgment of everyone else. It must be nice to be perfect. Say "hi" to God for me.

Dear Money is on its way -

When I applied for my tax credit no where did it say on the IRS page that I viewed that the process took so long. You are much to critical of the people who trusted and believed in the government standing by its offer. And to the comment of "why many of you seem to be in such dire straights that you need this money", is a pompus attitude. Why not want what you qualified for? If the government offers Child Credits don't you want those when you turn in the qualifiying information? This is no different and continues to look like another government ploy to adjust numbers for housing. Everyone who could afford to buy was tempted in much the same way so that stastics looked as if the housing market was on the rise. People only want what they were promised pure and simple and to bashers like yourself - I hope your rebate is delayed while everyone else gets theirs. Lets see then if you are so critical. When I am promised money and I abide by the rules then I expect my money. Its that plain and if I have plans for that money much the same as everyone else then my plans are ruined when I don't get what I am promised. Its sometimes more principal than impatience.

I bet if you waited until

I bet if you waited until the end of June when you followed ALL the instructions and sent ALL of the CORRECT info and nothing else and STILL haven't gotten it when you send it back in October of 09, you'd think a little differently. You didn't wait for anything. Yours was processed quickly.

Great Job Sneaking in the DAYS before it was over!

What do you have to say to the people that filed an ammended return back in December of 09? Just being patient at this point isn't really an option. What is really bothering me is that you think that everyone here didn't file correctly. Tell me where on the ammended 08 return it says to put any proof of ownership...but now they need it! Also, the IRS not only accepted, but already paid thousands of inmates who filed for the credit while in prison! Read that again, they already got paid. I don't know about you, but it's a little frustrating to be waiting well over a half of a year and hear that inmates are collecting-- while my correct paperwork is just sitting in a pile off to the side. Yes, it is frustrating, and yes, we all knew it wouldn't be quick, and yes, you shouldn't have relied on this to help make mortgage payments, but in the end the IRS is not really holding up to their end of the deal. Patience is a virtue, but most of us would like to see results...

I highly doubt it's

I highly doubt it's appropriate for you to chastise adults. You don't know anyones specific situation so if people are being impatient, I'm sure it's valid. Mine sure was. I got the run around and if the IRS couldn't handle it than they probably should have hired more people and kept up their end of the bargain.

Well I qualify for the

Well I qualify for the Repeat Credit. We built our home in December 2009, sold our other home in April of this year. I e-filed in January. Amended my return for the tax credit and they received it on February 19. Keep calling and getting different answers on where my stuff is. 2 times they said I have to resend all the paperwork in again because it was sent back to me, it wasn't and don't know where it went. Don't like the fact that my information is out there somewhwere. Another 2 times they said it was going to be processed soon. They have been so rude and not understanding at all. I have had a couple of the people screaming at me. All I can say is WHERE IS MY MONEY? It's been 17 weeks. A manager was supposed to call me back before last Friday, still haven't heard from them. WHAT A SCAM

IRS is right on it when you owe...

We closed on our first house April 20th, 2010 - had already filed our taxes before that, so on May 11th we sent in an amendmant for the tax credit. We sent our HUD-1 statement with the forms via certified mail receipt.
They got it all on May 14th, but are saying they got it on May 28th. On June 6th we got a notice from the IRS that we owe back taxes, apparantly my husband forgot to file in 2008 for a small side job he did. Unfortunately, on May 28th of this year he lost his job, our only income - just over a month after buying our house! Talk about stressed out! :(
So anyways, he contacted the IRS and informed them that he received the notice that he owes, and that he is waiting on the $8,000. tax credit - and that he can pay what he owes once that comes in. He asked for the status of the credit, and all they could tell him was "12-16 weeks" (it recently changed from 8-12). He asked if there was any way to expedite the credit due to hardship, and they said no. So he agreed that what he owes will be paid within so many weeks (I forgot how long, but it falls within the time frame that we 'should' get the credit). Within a week of him speaking with them on the phone, he got another letter showing the agreement to pay his balance within however many weeks. I love how they are so quick an on it when it comes to you owing them money, but we have received absolutely nothing from them concerning the tax credit and they can't even give a more accurate time frame other than "12-16 weeks"!!
Our mortgage payment is due July 1st, and we are almost $600 short for making the payment. This hurts and is so scarey...we FINALLY fulfilled our dream of home ownership so we could stop moving our kids around, thinking we'd have the $8,000 to help pay off credit card balances, etc - and then he loses his job and we're now praying that money comes in soon so we can keep our home. :(

I feel sorry for you folks.

I feel sorry for you folks. I sent my amended return on august 5th of 2009 and recieved my check september 9th(three days before I moved in. I must have gotten in early or something.......

and where are u located?

and where are u located? because I bought my home here in Louisiana about 2 months ago and sent my paper about 6 wks and still no answer. Please help. Thanks.

Why is this happening?

Seriously, can the IRS take anymore time? I bought a house in June 2009 in North Carolina and I filed an amended return in Feb. 2010. It was received by the IRS on 24 Feb. I've made a few calls to the IRS just to check on the status of my return and was told absolutely nothing. Well other than yes we have your papers and it is in processing. Yesterday I called in (mixed up my days-thought it was the four month mark) and was told that I have never filed for 2004 taxes. That being six years ago I very well might not have, hell I don't remember. All I know is that was a double deployment cycle year so the IRS is going to owe me money. (God bless tax free zones of the middle east) Now I have to do that before I can get my current tax return. Why was I not told about this missing tax filing the first time I called? WTF? Does the IRS want to keep my money?
To be honest though it is nice to hear that I am not the only one having this issue with the IRS? Come on now boys and girls- from one government employ to another, hook a brother up.

There is hope!

I, like many of your here, filed an amended return because I could not wait to receive my federal refund and FTHB credit together. I filed in early March and had to wait until mid-March after the federal return was accepted to file the amended return. After my tax preparer omitted the 5405 form, which delayed me for a month I was able to get information from the IRS reps last week and have received (and cashed) my FTHB refund check. I was told on 6/15 that my check would be sent on 6/18 and it was. It took me 8 weeks from the time I had to resubmit the info with the 5405 form (late April) and a total of about 13 weeks for the entire process. The only information I sent in was the 1040X, 5405 form, driver's license and HUD-1 settlement statement...no bills or other info to prove I owned the home. I say all this to say that there is still hope and the IRS seems to be getting a handle on this...oh and the best part...I got some interest for having the payment delayed (about $40 but hey I'll take it!).

Read a distrubing article that might shed light on where the money has gone for the FTHB credit...prisons. See the link below and keep the faith!

http://www.lvrealty.net/news/prison-inmates-claim-tax-credit

I filed an amendment to

I filed an amendment to claim the "First Time Homebuyer's Credit " on April 20th. My refund was mailed out on June 18th....TO MY OLD FCKN ADDRESS....The fact that I filled out a 1040X , included my current address (the new home), provided them with the HUD1 and for god's sake it was the First Time Homebuyer's Credit I was claiming, those worthless and lazy SOB's working for the IRS still managed to FCK up. If it's been months and you're still waiting, you better confirm that they have your correct mailing address. According to one of those worthless and lazy SOB's working for the IRS, it takes a few weeks for an address to be updated in their system. For those who have received their refund congratulations and us that are still waiting, LET US PRAY...

Mailed August 2009 - STILL NO LETTER, NO NOTHING!!

I confimed that IRS recieved my amendment for 2008 taxes on August 28th 2009. I have not gotten any letter asking for additional information. Most of the comments on this site are getting letters. I haven't gotten anything. I have called religioulsy every month and I get the same status..its in process. I asked to speak with the process department and I am told they do not have a phone number and I am not able to speak with anyone else. They said there isn't any indication that auditing needs more info. I don't know what else to do. I don't know who to contact because I am told there is no one to contact for further information. RIP OFF!!!!!!

Write your congressman

Write your congressman and explain your situation. Also, if you get a tax advocate, which your are entitled to, make sure you get one in your home state. Your wait is ridiculous.

We did send an e-mail to our

We did send an e-mail to our congresswoman 3 weeks ago and haven't got a response from her either.

update

We filed Feb 5th sending in all paper work and taxes preparred by accountant. Received request for Hud statement June 14th (even though we'd already sent it. Kept being told wait another 4 weeks or so any time we've called. I did actually get one helpful person on the phone that said well it doesn't say they need any info or your denied so it's a good sign. Also neither of us have ever owned a house before, we're both only 25 so not even many prior tax filings to look at. Got a paper dated June 14th that says please allow an additional 45 days, we need no further info at this time, and at the end of the 45 days we'll decide if we need more info, you're denied, or you'll be issued your refund. That will be a total of 25 weeks IF it's issued at the end of the 45 days! You'd think that they'd know by now if they needed additional info!!!

I don't understand...

I also am waiting on the tax credit, but why is everyone getting SO mad over this. If you bought a house just for this money and/or in hopes of getting this money to help pay mortgage or other bills, then you shouldn't have bought it. I am waiting to buy washer/dryer, but I am getting by. I planned ahead and saved money for the down payment and anything else I need. It is awesome that we even get this money at all. I am planning on saving most of it, not using it to pay my mortgage. I did not plan on this money, but for a couple of items. So I think everyone should really just calm down and wait for it to come. Consider yourself lucky that you even get it. There are too many scammers out there and that is why it takes so long. I bet a quarter of you will go into foreclosure within the first three years, then have to pay back the $8,000 then put this country into a even bigger hole than it is now. So thank you very much for not being able to take care of your bills and yelling at the IRS and making them delay everyone else!

Agreed

I agree! I know it can be a little frustrating not getting something you were promised but you shouldn't rely on others promises all the time, especially the IRS. I even got a little worried when I didn't get any word back on if they had recieved my paper work or not. I went to the IRS website and they said wait a certain amount of weeks before contacting them and I did. The gal I spoke to was very helpful and told me what other paperwork I was going to need to send in because thay changed their requirements at the beginning of the year. That's fine, I didn't have to wait for the letter in the mail to tell me the same thing, so I sent in the new required paper work the next day. Recieved a letter a few weeks later telling me they got the new paper work and they will be in contact with me in 30 to 45 days. Now 42 days later a letter is recieved say we are approved and a check with be sent in 6 to 8 weeks. It has been 26 weeks and now we have to wait 6 to 8 more. No worries! We at least know we were approved but we weren't relying on this money to stay afloat like so many people out there. It's one thing if you lost a job, or other misfortune, and could really use this money but to spend this money before you got it and now have to pay up and complain it's the IRS's fault for taking so long is just not right. Remeber where that money is coming from, OUR taxes! The government will be getting this money back in some way or another!

People are ONLY getting mad

People are ONLY getting mad because of the WAY the IRS is handling this, NOT that they are being impatient or need the money to pay bills or the mortgage. They simply only want what they promised. They had this whole credit thing SO people WOULD buy places. This was a stimulous for the people who wouldn't normally be able to buy a home, to give them a little leg up in this. The IRS said, if you buy a home and qualify, we will give you up to $8K as a bonus for buying the place and HELPING TO STIMULATE THE ECONOMY. So when you buy a place and expect to get your credit, I don't see anything wrong with that. They just want what was promised to them. Some people bought places with stipulations on the use of the money. IF the bank decided to grant them the loan on that stupilation, that is NOT the consumers fault. The bank shouldn't of qualified them for the loan. The banks did this because they also expected the IRS to do what they promised people. People have issues with it because the IRS will tell you one thing and then not commit to it. IF YOU AREN'T GOING TO RESPOND BY A CERTAIN DATE, DON'T SEND ME IN WRITING THAT YOU ARE GOING TO RESPOND ON A CERTAIN DATE!!!! I would be fine if they told me a realistic deadline, but when they tell me I am going to get a response by a certain date, IN WRITING, I EXPECT them to respond on that date and when they get mad when I call because they didn't, it makes it SEEM as though they are purposely stalling or not being attentive or doing what they promise. If YOU miss a deadline, you get denied and have to start ALL OVER AGAIN, if they miss a deadline, "it's not their fault, they are understaffed". NO IT IS THEIR FAULT, they could have just said "We're reviewing it and will get back to you as soon as possible" NOT ON A CERTAIN DATE AND NOT COMMIT TO IT. I did my end, they should be held accountable to their end.

Stop with the patronizing

Stop with the patronizing lecturing you fool. Betting people will foreclose on their homes? NICE. What a jerk!

I don't think people would

I don't think people would be so mad if they were just upfront and honest from the get-go. Some people have waited MONTHS for even a response. I have been waiting OVER 9 months and they keep telling me they will get back to me on a certain date and then don't and get mad that I call.. WTF?! Don't tell me IN WRITING mind you, that you will get back to me on a certain date then don't.

EXCUSE ME? This is a forum

EXCUSE ME? This is a forum to vent frustrations and help other people who are having problems. You have NO RIGHT to ASSUME people ONLY bought a place for the money. That would be stupid because you are paying much more than you are getting. I saved up my down payment, I paid all my bills. I pay my mortgage on time EVERY month. I am still waiting for my money and I bought my place back in October. I was going to use the money to fix up the place a little and put into savings. I am surviving without it and happy and appreciative that I am getting it, but I DO NOT appreciate being lied to and dicked around by the IRS. If you commit to something, commit to it, don't be rude and lie to pacify people.

SEPTEMBER 09 - COUNTING

I have filled and sent closing documents at the beginning of September 2009 and I am still waiting for my claim. I have received couple letters from IRS and looks like they are buying time and saying that they still reviewing my response. It has been now over 9 months since I have submitted all the forms and It has been very frustrating for me. When it comes to paying money to them, you have deadline but when they are giving money which they own you, they manipulate and are looking for extensions. Well I am not going to quit and will fight for every cent they own me.

Inmates are receiving 1st time homebuyer credits

Has anyone seen this recent article? Inmates are receiving refunds for the tax credit. Does this seem odd that hardworking tax payers can't get a timely response.

http://www.lvrealty.net/news/prison-inmates-claim-tax-credit

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