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

Homebuyer credit

This is not completely true. Some people are forgetting that they may be claiming interest or taxes for other things such as vacant land, timeshares, etc. Even if they are not itemizing, the IRS can see that they paid these things and exactly how much because the company reports it to them. I sent in everything they needed and timely but I was denied because of this and I work for them. It's frustrating for us also as we go through the same troubles as everyone else when it comes to the service center and we have to deal with them daily.

First time homebuyers tax credit

My story is like most, we have been waiting since Dec.1, 2009. We have been told many different stories, but they also asked for papers that we had already sent in the first time, I don't think that it is fair for others that have gotten their money to say that those of us that are complaining that we are waiting way to long is our fault, which it isn't. They are buying time and changing the rules every few months, they don't know whats going on half the time, at least all the ones that I have spoken with. I have been called a liar and yelled at and hung up on among other things just because I would like to know the status of the amended return, which they admitted had been adjusted for the 8000, yet now we have been denied and supposedly a letter was sent out over two weeks ago, that we have yet to get. I don't understand why most of us have to fight while so few get theirs quick, which I am not begrudging at all. I just wish that we wouldn't be lied to so much. Good luck all

Please let us know if you

Please let us know if you received your first time home buyer credit or simply your regular return. I submitted all of my paperwork, correctly, using H and R Block back in Feb 2010 and also was told to re-send my HUD and proof of ownership. I am still waiting to simply hear if they will or will not approve my 1st time home buyer credit, nevermind get a check. I did however receive my regular credit in a very timely manner. Please don't assume people are with holding info because they did not receive the money yet. My wait according to phone correspondence has gone from 4-6 weeks to 12-16 weeks! Neither me or my husband have ever owned a home and should have been an open and shut case. Good luck.

Bold Statement

Hey Patricia,

I just thought you should know that I'm not an ignorant moron. I did do everything I said in my post. On top of that, I ran into brick walls repeatedly with the IRS. I mailed in information that they told my they had not received and they still gave me no information as to what I had to do next.

Next time you notice people are in a really irritating situation, try not to act so pompous.

Thanks,

Dominic

And how would you know that

And how would you know that others are leaving out information on these posts and not sending everything that is requested to the IRS at first? That seems awfully judgmental to me. I have worked in the legal field for years, and my current boss is not only a CPA but a tax attorney, and I made sure everything was sent in and documented at the time I filed my amended return for the credit. Today I received a letter stating I was disallowed the credit because I had filed information in a previous tax year showing I owned property, which is true, but it was NOT my primary residence, and I provided all the paperwork to prove it. I agree with many of the other posters on this site: there are too many people filing for the credit and the IRS is just giving them a cursory glance and denying whatever they can as quickly as they can. I will appeal this one to the very last because, according to the IRS guidelines, I qualify for this credit. I should get something out of all this stimulus money that my great grandchildren are still going to be paying 100 years from now.

Actually you are just one of

Actually you are just one of the lucky ones. My husband and I sent in all our forms correctly in February and are still waiting for our refunds. We are not leaving any "details out" we are just getting screwed over by the government. So be happy you recieved your refund but don't assume that those who haven't got theirs yet filed incorrectly.

First Time Home Buyers Credit

Sent in Paper taxes on 20 Jan 2010, received a letter that said it was being reviewed, called and they said a letter Dated 7 May 2010 has been sent for additional information. Postmark on letter 24 May 2010, rcvd 28 May 2010, rounded up all documents asked for and sent bck info on 28 May 2010. Called received info on 9 June 2010, called again need to wait 6 weeks from 9 Jun 2010 for more info, or request for more information. Trying to keep temper in check, talking nicely to the IRS, but of course haven't really made any real strides. It has been pretty near 6 months, since I sent them in. IRS needs to hire additional staff, or quit trying to be super sluths, with no knowledge of what they are looking for. Heard that if you wanted to be audited put in for homebuyers credit, that 1 in 4 are chosen. What the pits. Good thing I didn't plan a vacation this summer or want to put in a backyard this year with the money.

Changes to my tax return

ok so we filed our taxes on february, here we are june 15th and nothing..
I just checked the WMR website and it said that they made changes to the amount of our refund!!!!!!!!!!!! WTF!! we are not getting the $8,000, the reason according to the website is not availabale!!!!! I am pissed!! we have been counting on this money for months!! our house needed a lot of work when we got it! and we were gonna use to money to fix it now we are screwed! gosh I feel like crying.

End is in sight!

Finally got some good news. Our refund check is supposed to be mailed out June 25th per the phonecall from a tax advocate.

We filed our taxes Feb 9th. And like many others got the runaround from the IRS when trying to find a status.
They had lost both of our W2's and refused to confirm that they recieved the faxed copy that was sent in over 2 months ago.

I called today

Our check for 8479 dollars is scheduled to be mailed out on June 25. Keep your fingers crossed for us. We're trying to conceive and this money is going to pay off one of our cars! Just keep calling guys. Stay on them and if it's been two weeks I recommend calling again. They've lost our paperwork and lied numerous times to us. This is so sad what they're doing to citizens who did their part.

tax credit

WHAT NUMBER DID YOU CALL TO CHECK ON YOUR TAX CREDIT STATUS.

what number to call?

i am also lookign for my return, what number is everyone calling to get status updates on hom etax credit?

Amended Return Processed / closed waiting for release date

Sent out paper work in feb 2010 IRS sent back requesting HUD Statement. Sent in HUD statement and other documents. IRS sent back missing documents sent back in April.Called in May no status called in beginning of June being processed call following week being processed. Called today 6/15/10 processed and closed waiting for release date waiting for adjustments to go through system for I was told 2 weeks now I am being told 4 to 6 weeks to get a release date for my refund. Any one else having this issue as well.

OCT 09 - and counting

Purchased a house in June of 2005. Moved out of that house in August 2006 because of Military Orders moved me to another state. House sat empty until sold in December 2006, however it ceased being my "main home" when I signed for millitary quarters in August 2006. Flash forward three years....I am on orders again to move and there is a FTHBTC that says you qualify if you have not owned your "main home" for the three years previous. I move in July of 2009 and buy my current home in August of 2009 (thinking I qualify). I file an ammended return of my 2008 return to get the FTHBTC in October 2009..... then the game begins. I am told 6 to 8 weeks..... at 8 weeks I am told 8 - 12 weeks ..... at 12 weeks I am told it will be another 4 weeks ...... another 4 weeks goes by and I am told I will be getting a letter in the mail .... another 4 weeks goes by and no letter comes .... I finally get through to someone at the IRS who assigns me to the Taxpayer advocate system. I contact her, she has me send all supporting documents (military orders, government bill of ladding from my August 2006 move, closing statments, etc...) I am told it will take her 2 weeks to review my case. 2 weeks go by and she tells me that she has reccomended to the IRS that I qualify based on the facts.... but the IRS has another 4 weeks to respond to her.... well last Friday was the 4 week mark. I called yesterday to get a status and what do you think the IRS said???? Nothing. They did not address it. So my advocate is sending an email to get an answer as to why there is no answer. Today I expect the IRS to tell her we will respond to your request for an answer in 4 weeks.....UUGGGGG!!!

I don't mind waiting, I can afford it. My plans for the money were to do non essential improvements to the house. I do feel bad for people who must have the money now.... but come on when does the maddness end?

Also I am curious if I will "qualify" for interest on the money if and when I get it. Is there anyone out there who was delayed for this long that ended up getting the money and did they get interest? I know if I owed money I would get charged interest....

Thanks for reading and if you are waiting, hang in there!

Curious

Hi there..
I was just curious if you received your refund. We were in the same situation. House sold in October of 2006 and we purchased a new one in August of 2009. At first our refund was denied as we claimed interest on our home in 2006, then we presented all the evidence they needed showing your same situation and finally received a letter denying the refund yet again. This time the reasoning was because the fact we sold the home in October and purchase a new home in August, that was owning a home within 3 years..... I will be sick to my stomach if this in fact sticks over literally 8 weeks!!! I guess that is our fault for not looking into everything closer, but everyone seemed to understand it as the previous must be sold by the end of 2006.
Thanks
Annie

Got it !

It took 21 weeks and 4 days, but it showed up in account Friday the 11th of June. We filed return First of Feb. Plus a few faxes to resend hud that they claimed they didn't have. They are paying interest on the refunds. All I can say is what ever they ask for send it as soon as you can. Then follow up thirty days later make sure they got it. Make sure to write down all contacts.

taxes

did where is my refund say you would be getting a check or did it say they would direct deposit it

refund

call your congressman or woman,demand results,its election time

filed 10/09

We filed for our $8000 credit in October 2009. Still waiting now in June 2010. Today the advocate people said we 'qualify' for an advocate to look over our case and see if they can help. I've lost all hope.

STILL WAITING!

We rushed to buy our house so that we could get this tax credit, and it has just been a nightmare! We closed on our house December 24, filed our tax return in February, and were supposed to be receiving our return in April. Well about 4 days before our return was supposed to be sent to us, we received the letter in the mail from the IRS stating that they need us to send more information. So we fax the information over right away, thinking it would get to them faster, and it took them 2 weeks just to confirm that they received it! Then it went into processing, and we were told that they had 2 weeks to get the check to us. The 2 weeks came and went with nothing. We called back and were then told that they had 30 days, not 2 weeks, and we were apparently misinformed! So, we wait the 30 days and still nothing! I call again and am then told that we should have received our check already and they aren't sure what the hold up is. So, I'm told that they are sending my information to another department and if I don't receive my check, or get a phone call by June 15, then I have to call them back. Well of course we haven't gotten our check yet and nobody has tried to call us, so I guess I'll be calling them tomorrow! This is just so ridiculous and draining! It would be one thing if we were given accurate information as to when we will actually receive or money, but we get a different answer everytime we call! Also, why can't we receive the part of our refund that has nothing to do with the FTHBC? I can't believe what a mess this has turned out to be! Good luck to everyone who is still waiting, and hopefully we'll all receive our money soon!

1040X

I mailed mine 5/8, and today is 6/14 and they say they have not received it and want me to mail it again. UPDATE: Just got off the phone with the IRS, now they are saying it can take up to 12 weeks to even acknowledge they have received your return. This lady told me not to refile until it's been at least 10 weeks, cause if they have to many copies of your paperwork, they may throw up a red flag and cause an audit. They also were kind enough to share that if you filed an amended return, the refund hot-line, and website will not work for you, so you get to wait on hold for 15-20 minutes a shot to find out anything.

Called again today

Well, Called again today,6/21, and still they can not tell me whats going on with the tax credit. Must be nice to be above the law, when they want money from us, we have time restrictions, or have to give them a reason for an extension. In their case, they just tell you, I don't know, and have no repercussions. You would think that with all the technology, they would at least be able to tell you something. There's our tax dollars at work...

WHERE IS MY MONEY?

I too am waiting for my first time homebuyers credit. It has been twelve weeks and counting. When I spoke to the IRS back in May, they told me that a letter will be sent to me on additional info. Of course, couldn't tell me what this info is. In searching the comments on the website I found a no that could tell me what was in that letter. When i called, I found out that a letter was sent out with more info they needed, which I already sent in., The IRS also told me my case has not even been looked at but they are sending me a letter to send me more info. mmmmmmm........so how does the IRS know what info was sent when my case was not reviewed yet? The employee who spoke to me started going over my acct and most of the stuff they needed they already had. My personal opinion, this is just a delay tactic so the they can just make more interest. I just received a letter saying that my info that was sent was being reviewed and will take an additional 30 days. This is ridiculous. They are really f......ing with all of us.

TAX Credit

As bad as I hate to say this I am glad I am not alone in this mess. Bought New Home in May 2009, I owe the IRS from previous years. They will hound you like a mad dog when you owe them money. My credit is enough to pay off what I owe them. I am still paying monthly payments along with penalties and interest. I filed our taxes the first of April and sent them overnight. Everything appeared to go smoothly at first. The IRS Website www.irs.gov Wheres my refund? , said I would receive my refund by May 25th. May 4th I receive a letter stating they needed a copy of the HUD statement r similar document. Our home was purchased through Owner Financing so there is not a HUD Statement. I mailed a copy of our contract that was prepared by a Lawyer, a copy of our property tax statement even though it was not asked for. We did not buy from a Family Member so I was told we qualified for the Credit. All I want is to get the IRS paid. I guess as long as I am paying them with interest they can hold my refund as long as THEY want. I, like a lot of you have now been told it will take an addition 3-4 from the first week in May to process and then an additional 6-8 weeks to receive my refund. Our Status now shows Refernce 8001. I call every week and get the same answer. I can speak from experience that they would NOT tolerate and accept this behavior. You would be getting letters of TAX Levy's from the IRS. Believe me I know!

FINALLY!!!

We sent our return in on January 26th, and just TODAY received it. While I'm thrilled, it's still apalling that taxpayers are waiting months for money that was promised to them. For those of you still waiting...I'll keep you in my thoughts :)

Tax refund- 3 weeks to the day from filing

I was looking at this site last week and was quite concerned that my refund would take a while to get back to me. I figured as I just filed in May, I would start to look into the refund come August if I heardn't anything back by then. But I checked my bank account this AM to make sure my payroll was there, and nearly fainted to see the refund staring back at me!

Timeline:

May 7th closed and recorded house.

May 19th, mailed certifiedmail- return plus forms and copy of cable bill, taxes done by H&R Block

May 21, certified mail confirmed delivery

June 11, refund deposited into my account

So there is hope. Good luck to all who are still waiting.

8000 credit

Do you have the telephone # I have sent in my amended tax return on 4-29 and still have not heard back anything from the IRS, regarding the 8000 tax credit.

Thank you

Still Waiting on $8000 Credit

Purchased my home in July 2009 and filed for the credit with my normal tax return in Jan 2010. In May April received a letter saying the altered my return and denied the $8000 Credit due to interest claimed on a property in previous years. I called to explain that that interest was on a time-share and IRS legal confirmed that this does not disqualify a person from the $8000 credit b/c it is not a primary home. Submitted a rebuttal to the IRS as well as all supporting Documentation. I was told it would take AT LEAST 16 weeks and from the 30mins I had to spend explaining to the IRS agent the difference between a time-share (1week/yr vacation property) vs. a primary home, I'm not very confident I will get resolution then. Said I had to wait the entire 16 weeks before I can contact a tax advocate. This is nutts....someone has to be able to hold the incompetence of the IRS accountable!!!!

Finally got my refund after 4 months and 1 week !

filed on 2/5/10
got tax refund on 6/11/10

I went through the same dilemma as everyone. Had to resend my Final Settlement statement and got the run around. My advice is keep calling them and write down all the dates you have called. After a while they realize you are on top of their promise from 4 weeks to 8 week or additional 38 days to respond to a status request.

I'm so glad I found this site which allowed me to understand that I was not the only one going through hoops to get the refund,

finally received tax refund after four months waiting

I have bookmarked this page for the past few months and wanted to post a follow up that after four months of frustration with IRS delays, no information and the run around that I finally received my tax refund with no interest that was direct deposited to my bank account May 28. It is a great relief to be able to pay off my debts at the moment. I filed January 22, return received about March. I was then audited, got a tax advocate who I am not sure was of any help except to wait for the IRS to complete its exam. My expected refund date got pushed back four or five times on the where's my refund website.I finally received a code 1301 I believe and return was then released. I hope that there can be more similar stories to post on this website in the coming weeks.

waiting waiting waiting waiting.......

i'm a first time home buyer living by myself. got a great deal on a foreclosure property. I closed at the end of December 2009. Mailed my tax return on 3/4/10, and realized 1 hour after mailing it that i didn't SIGN the papers!!!! ahhh!!!! So by the end of April i get a letter in the mail requiring my signature. I faxed that paper back to the IRS (since that was an option) and the confirmation says it went through. I have called several times to check on this. The first time i called i was told that i was waiting with 800,000 applicants trying to get this credit. Literally.

I filed a claim last week b/c it's taken so long and the woman on the phone said they HAVE to respond within 30 days of that claim. Either they are going to ask for more information, or finally send the check. i'm getting very worried because my savings has been completely depleted, and i thought i'd have this $ by now. i'll make it about 1 more month until my money is totally gone. I pray i get it soon! At least i know there are others out there that are in this same crappy boat as me. Hopefully this passes soon!

I'm no longer expecting to get my refund -- about given up.

Like many of you I haven't gotten my FTHB refund, and I moved into my place on December 1.

Honestly, I goofed up the paperwork at first -- I totally forgot to include a copy of my closing papers to prove that I bought the house, and the IRS mailed me a notice of this. So I re-sent everything and got a confirmation that everything was received by them in mid-March. But that reset the countdown clock to another 8-to-12 weeks. *sigh*

Today I learned my amended return (for 2008) was now under review for the refund. But then I discovered that I made a minor (at least I hope) mistake -- I listed that I re-figured my tax owed using "SCHED J" (I am not a farmer, ha!) when I should have entered "Table" instead. This may be a minor thing, but I called the IRS again and asked what I should do, and was told to sit tight and wait to see if they would require me to correct this. (And would the countdown then reset *again* for another 8-to-12 weeks, I wondered/dreaded?)

I understand and totally take responsibility for having made two mistakes here, so I'm not going to rag on the IRS, it being a government agency, rah-rah, grumble. But it's the fact that the processing has been taking so long for every step, and, in my defense, the instructions for getting this refund were confusing at first. (And I take pride in being someone who does his own taxes, reading things very carefully.) I've never had a problem with doing my taxes before this first-time home buyer credit -- and, based on what I've been reading by others who either filed themselves or hired an accountant to do it, filing the paperwork properly has been a problem and confusing for many others as well.

Bah -- at this stage, folks, I am no longer counting on this money ever showing up. (At least not by year's end -- it'll be 2011 when I'll still be wrangling over my amended returns from three years ago.)

Of course, nobody pointed a gun to my head and forced me to buy, but I kind of do feel like the proverbial donkey who was led by a dangling carrot to pull the cart (i.e. the faltering housing market, haha).

Anyway, thanks for letting me rant! And I hope the rest of you get your refunds!

listen don't give up unless

listen don't give up unless you really don't qualify my husband and have been turned down three times and we have been waiting since august of 2009 so keep fighting and don't let them cheat you. .

Finally!

I have followed this sight since applying for the FTHBC in 2/8/2010 when I filed my taxes. Here is my timeline:

Puchased my home 3/2009, closed 4/3/2010.
Did not amend my returns because I found out a month later that I was pregnant and thought it would be better to have the money 2010.
Filed my 2009 taxed and the claim for the FTHBC 2/8/2010 at a professional tax service. I normally do my own taxes but did not this year to avoid any delays (or so I thought)
They acknowledge receipt of my return 3/16/2010 and stated " If no errors, I should receive my refund 4/13/2010 ( which is a Tuesday so I knew it would update b/c IRS pays on Friday's only.)
4/13/2010, no money so I called the IRS, was told I would receive a letter. "Don't worry, " she said, " It's probably something small like a missing signature or something."
Received a letter 5 days later which was dated 4/8/2010 ( since when does mail in the US take two weeks??) asking for my HUD statement and 5405 ( I think that's the form number) which was already included in my original return.
After reading this site, I noticed this is the pattern, so I got wise. I sent in the form, the orginal application for my mortgage ( which was FHA noting that I was a FTHB) my utility bill, my vehicle registration, the HUD closing form and the letter from my lawyer confirming that my house was closed on 4/3/2010. Sent all paper certified, which was really for my own tracking purposes. They got it on 4/28/2010, but made me wait 45 days to say they have it. Called on 5/15, was told by a really rude person who hung up on me that they won't have any information until 5/28/2010. Called 5/28/2010 and was told by a really nice person no later than 6/28/2010. Called yesterday ( 6/8/2010) and was told my money will be directed deposited this Friday! I asked her the amount, she said my entire refund (which I never received b/c processed as one return)+ the FTHBC + interest! She made my day! I did not need to get a TA or anything like that...just good old fashion patience! So we will see Friday.....if what I was told was wrong, well then I will be back on this site crying LOL.

Looks like I'll Never See My Tax Credit

I bought my home 30 June, 2009 and filed my taxes, with the appropriate form filled out to claim the credit, on 30 January, 2010.

The IRS finally got back to me in mid-March, asking for more documentation of the purchase, which I immediately sent to them.

In early May, I called to ask about the status of my credit and was told that I was denied on the grounds that I was a previous homeowner.

I did own a home from 2002-2005, but had been renting for three years, nine months prior to buying my current home. I sent all the documentation I could think of to prove that, with return receipt.

Two weeks ago I got the receipt back, so I waited a week and called the IRS (an hour on hold!) before being told that my documents weren't even in the computer and that they wouldn't be for another four months!

Today I called Tax Advocates to see if they could help. The guy kept interrupting me after asking me to explain the situation. Among other things, he asked, "Well, if you had a home before, you're not qualified," and "Why you call us first? We're only the LAST RESORT," and "One person suggested you call us, so that's what you did?"

Finally I asked why he was being so hostile and he said, "Because you call so late!"

At first I thought he meant that I should have called him sooner after I filed. What he meant was that it was five minutes after four o'clock.

So the IRS won't tell me anything, the Taxpayer "Advocates" are rude and hostile and don't want to help me.

Having not owned a home for nearly four years prior to buying this one, I qualify!

Where do I turn now?

keep fighting they told me

keep fighting they told me the same thing three times and i am still fighting the tax advocate can't help us unless not getting the money is causing hardship which is not fair so keep calling the irs and get someone to help you don't give up if you are owed the money then fight for it.

letter

i filed my amended return and submtted hud-1 mform 5045 i submitted april 2010 irs recived april 28, 2010 i recived a letter todat from irs letter 2645c stating that they havent complted research necessary for a complete response . and they will contact me in 45 days . anyone recived this letter ?

Ridiculous

Obama's trick to kick-start the housing market is once again smoke and mirrors. Filed in early Feb. Bought my house in April 2009. Should have filed amended return immediately last year. Freaking government and we're giving them healthcare??

Do you have to be a friggin retard to work for the IRS??

Hi, Can I please know within

Hi,

Can I please know within how many days we have to apply for federal first time home buyer tax credit?

I know state tax credit we have apply within 2 weeks from the day of escrow close.

Thanks
Mike

As of today my daughter is

As of today my daughter is still waiting for her home buyer credit. She filed her taxes in January and has been getting the run around from the IRS also. She has faxed more info to them on 2 occasions that the requested but still it is telling her that it is being reviewed. I am just wondering if maybe everyone on this site that is getting the run around should sign some sort of protest petition and forward it to our congress and senate reps. After it was there idea that this happen. Does anyone in government know that this is happening or care. Maybe if we took it to the press of some big time news channel. Any ideas.

we filed feb 29 still no

we filed feb 29 still no answer

Riddiculous

I bought my first home in July 2009 and immediately sent my amended 2008 return. They (IRS) received it (officially) August 31, 2009. To make a long story short its June 8, 2010 and I still haven't received my $8,000. My last two calls to the IRS have been a waste of time. They response is basically its a long process. It's a good thing the federal government doesn't control my health care because I'd be dead.... oh wait.. they do.

ugh

Well I posted before that I filed in February then sent additional information in April. I called the tax advocacy group and according to them unless I am on the brink of losing my newly purchased house they can't help me. Then I sent a letter to my congresswoman only to get no response. Sooo I called the IRS again today, June 8th. Thankfully I always get nice people because I might scream at someone if I didn't. However, the nice lady on the phone told that I should have heard something by now, no kidding right, so she would put in paperwork that would request an answer as to why it isn't being processed and I should hear back in 30 days. UGH its always 30 more day. I bet the next time I call I will be told, "We requested more information please call back in 30 more day". I do find it ironic, however, that I read in the paper yesterday that the US government is pushing BP because they are taking too much time in processing the money they need to pay out to the people harmed by the Gulf Oil Spill. While I pray these people get their money I find it EXTREMELY ironic that BP is saying they have too much documentation and too many claims to get through them quickly and our government is saying that's not okay. Oh that is the same government that still has my 8000 dollars because they have, "too much documentation and claims to get through them quickly". I think the old adage, "That's like the pot calling the kettle black" may apply.

RIP OFF Big Government Rip OFF

Been waiting since Nov 09.
IRS is playing games and run arounds.
1) missing paper - 2 month wait.
2) requesting more infos - another 2 month wait.
3) incomplete forms - another 2 month wait.
3 Processing - another 2 month wait.
4) lost paper ??
5 need updates ??
6) RIP OFF - no refund.

Fed up!!!

So, my husband and I bought our house on July 7th 2009, while we were still in Hawaii so that our house would be ready for us once both we got out of the military.
We both made it to our new home in Florida by the beginning of October 2009. We decided to settle in before filing. On November 24th we amended our 2008 tax return. We were told it would be 6-8 weeks until we will receive our refund. I waited 10 weeks, because I heard they were alittle backed up.. by week 15 I was getting curious, so i googled the number to call and check the status of my FTHBC, I browsed a few websites and read that alot of individuals waited 6 to 8 weeks just to receive a letter from the IRS stating that they were denied because they failed to sumbit proper documentation, these individuals never recalled even getting a previous letter asking for this documentation, so I called the IRS to make sure i was good and to track the status of my refund. (which was March 18th, I filed November 24th) the man I spoke with said that he saw no record of my amendmant, I was floored!. I waited all this time and they didn't even have it.. So i blamed myself, I figured somewhere along the line i screwed something up. So i went back to Hand R Block to amend my 2009 return which i filed in Feburary. I made sure all was correct and ready to mail, I resubmitted April 10th. (like an idiot the first time, i didn't certify my return when i sent it through the mail, so i made sure the second time around it was certifed and i posted my tracking receipt on my refridgerator and checked the status everyday.) Usps showed that the IRS recieved my documentation. so I figured this time it shoudl be good. I was told by the tax lady at H and R block that they are very backed up and it will take about 10-12 weeks until i would receive a check. I called the IRS today (6 weeks after they received my return) and they said they still havent receieved any amendants on my 2008 or my 2009 return, now i'm pissed!! It was been alittle over 7 months since i orginally filed and have not gotten ANYWHERE!! they told me to resubmit my paperwork again!.. i'm so sick of this crap, i'm tired of waiting and stressing over it, We could really use this money right now, I have been out of a job for 8 months only relying on my husbands income with a 9 month old. I;m still riding with Hawaii licenses plates which expire this month because we can't afford the $1500 it is going to cost my husband and I to get florida plates! Ugh.. then they lady i spoke with at the IRS just tells me i just have be paitent and wait.. I have been paitent, I've been too paitent! she said To call back 2 weeks after i resubmit it to make sure it's being processed.. then I sould recieve something in 12 to 16 weeks.. the numbers keep getting bigger!! if this happens again, i'm frickin taking somebody's ass to court..
I hate the IRS, You know it's so funny how quick they are to collect money but when they have to give away money of course they are going to take their time.. figures.

I need my money!

Well, it truly saddens me to read all of these comments. I thought it was just me the IRS was messing with. I called a month ago and they said it would take 6 to 8 weeks from the date I was sent the letter notifying me they needed my HUD1 statement. Well I checked today, no money. So I call the IRS again, and they said well they extended it to up to 12 weeks. I told her, well if they can extended their deadlines requirements with no notification, whats stopping them from extending it to 24 weeks? She just told me to Check back the 2nd week in July. JULYYYYY????!?!?! I'm going to start calling every wednesday like a previous poster mentioned. I don't get how this is acceptable in any way!

8 months and counting

So I bought my first condo oct 1, 2009, I filed my ameded 2008 taxes oct 3rd, they got them oct 5th. Took them forever to get back to me.. still waiting.. I got a letter saying I would get a decision by June 27th.. >>fingers crossed<<

I just wish they didn't lie to me when I called the first 3 times and they said I would have my money by ____.

update, they NEVER contacted

update, they NEVER contacted me

HUD-1 Requirement

In reality the credit is not meant to help first time home buyers or even to stimulate the housing market, but rather it was passed to help banking institutions.

I bought an inexpensive apartment, and was able to pay for it in full. According to the list of qualifications for the Homebuyers' Credit, the buyer doesn't need to have taken out a loan, however, the IRS requires a HUD-1, a mortgage document. I sent in a reasonable substitute for the HUD-1, which included all of the information the IRS required (purchase date, names of buyers and sellers, purchase price, etc) along with hard proof that I bought my home, and that I paid for it in full. The IRS sent me back a letter telling me that I need to send them a HUD-1 within two weeks, or they will not give me the credit.

I bought my home in September 2009. At this point, I don't know how to get a HUD-1 regarding a home I bought almost a year ago, or how to fill it out. "Name of borrower: N/A...Name and address of lender: N/A." A HUD-1 would prove nothing in my case. Can't they just check public records? Or give clearer instructions including alternatives for people in different situations?

I enrolled in college, expecting to have money to pay for it. My tuition will be due soon, and I have no way of paying the bill.

HUD Also Not Available

I too have the same problem. I paid for my home without using a Bank Loan so I have no HUD-1 form. I'm sure I'll end up with a very similar letter or notice soon telling me to cough up an HUD-1 form. Closing papers, tittle papers the works including proof of residence, proof of taxes paid locally will not prove I'm the buyer in their eyes... extremely sad.

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