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

Your story is almost exactly

Your story is almost exactly like mines. I too brought my house in Nov 09, sent mines off in Feb 2010. My status said I would receive my refund by April 29, 2020. They sent me a letter mid April saying that I didn't send something that I did send. I faxed it to them. And they informed me to wait 4 weeks. 4 weeks on the dot, no one was able to tell me anything just that it is not processed and they were not even able to provide me a time frame for this issue. That is when I contacted a tax advocate. A tax advocate will not help you unless you are experiencing a hardship or a bill is disconnected or you have a disconnection notice for a major bill. I used my cable bill and am waiting to pay it until I receive some answers. It is not a major need in my home but my refund is!!!! My tax advocate told me that she will not be able to do much for me receiving my first time buyers credit since my bill is not a major necessity and that she may only be able to get me my refund from the taxes I paid last year. The tax advocate did inform me not to try and let my major bills get a disconnection notice because it is not for sure if she will even be able to get me my refund. It has been over 2 weeks since I have gotten a tax advocate and I am still at a stand still for my refund. No one know the status at IRS and my tax advocate is not returning my phone calls at all. So recently I contacted my Congressman office to try and see what is going on with my return. I hope things go better with you than they are going with mines. I have a wedding I am trying to pay for August 7th and have already spent a significant amount of money on and will probably have to go and get a loan due to me being dumb and relying on my refund in a timely fashion as I have never had any delays in my refund. All I can do is pray and wait for a respond from the Congressman office. There has been several people who have had great success with a tax advocate so I wish you the best. Call them as soon as possible as they are a long process as well. Keep me posted :)

Tax Advocates

I had my claim accepted by the tax advocate service the first week in May. My advocate had me fax over all the information and stated it usually takes about a month. She said she would contact me before June 4th with the outcome. I spoke with her on the 27th and was informed that my credit had been processed and allowed, but she did not have a release date yet. I hope this will be relatively soon, although nothing would surprise me at this point. I purchased the home in August and sent in my amended 2008 return the first of September. I won't get into all the details, but it's safe to say my story is as bad as any other on this board. Considering I've made some progress with the advocates in less than a month, I would recommend that avenue for anyone who has run out of options when dealing with the IRS.

The National Tax Advocacy

The National Tax Advocacy are completely worthless in my opinion. We were assigned to one of them and they are no help what so ever. Today is 5/29/2010 It has now been 16 weeks since we filed our return and all they can say is don't call us we will call you they have said this for almost two months now.

Process but delayed???

What the heck does that mean? We filed in early March of this year using our accountant. He did everything correctly. In April, we get a letter stating that we were missing a few documents. Our accountant reviewed all paperwork that was submitted and guess what? We turned in everything that they needed! That's just so wrong. Now, we have to resubmit the same documents again and it's now end of May. We checked the "where's my refund" site and it was down so we had to call them. The guy said that our refund was process but delayed. What does that mean? Anyone have that too? Does that mean they don't have the money to refund us?

Tax Money Delay

I had this exact same thing happen to me. My tax accountant filed my taxes for me the first week of March 2010 I was suppose to get my refund May 18, 2010 I received a letter in the mail 6 days prior to getting my supposed refund that said they are missing an important document so I called my accountant and even though this was sent in the first place (which is why we waited till march to file) He resent it to them May 16th 2010 I called to see if they received it since online changed from the 18th to processing and the lady was really nice she said I am so sorry to tell you but there is nothing we can do on our end and dont even know if your fax was received (keep confirmation sent for proof) she said its the Fresno CA office that is having problems and she doesnt know why they are saying they have lost all these peoples documents other than the fact that when this tax credit passed they didnt take into account for the IRS shortage and they dont give OT to these people and they are so bogged down with this credit it is UNBELIEVABLE.. I would like to at least get my personal money aside from the 8,000.00 tax credit but you know what its my own fault to think it would have been on time or even close to on time. But very frustrating as some people said prior if the shoe was on the other foot wed all be in jail right night. Such a SHADY Govt!!!

Mine is being returned as incomplete.

I filled out my 5405 form with TurboTax's guidance and sent it off on April 26 ,2010. My house was closed on April 23. I sent a copy of my HUD-1 and a copy of my driver's license with my new address on it.

I called into the refund hotline and the gentleman informed me that my paperwork is being returned to me as incomplete, but couldn't tell me why.

Waiting over 7 Months Now

My husband and I bought our house in September 2009, we filed for the credit in October 2009. We are still waiting. They finally sent the packet for more information and are not updating us once a month on the status of our credit. This is usually just a letter saying "it is in process". I agree they are taking way too long to process, but they are being very secure. They are making sure the money is going to the right people, not some 7 year old kid that his parents put him down as a homeowner (really happened).

We WON!

I wrote in April about how we had been denied the $6500 tax credit because IRS records showed we had previously owned a home (duh!) So, on April 27th, we sent a carefully worded letter requesting a paper review and providing all of the same documentation we had previously provided, noting that, certainly they were mistaken in their denial of our credit. I have called in every week since then with no luck - nothing showing up on our record, no one knew anything...until today, when the recording was different. Today it said that they have changed our refund and our new refund amount is $6500 and we will be receiving the refund and a letter dated May 28, 2010! Oh, I didn't know how happy this would make me! After all I had been reading, I thought it would take months and months to get this cleared up. Somehow 4 months just doesn't seem that bad now! My advice: Document, document, document!

My husband and I bought our

My husband and I bought our first home in February of 2009. We filed our return, to include the frst time homebuyer's credit, in early March of 2010. Like everybody else, the expected refund date kept getting pushed back (wonder what the IRS would do if I stretched out the April 15th deadline by three months???). We finally received a notice (over two months after filing) that the credit was denied as we are not first time homebuyers. WHAT? I think we would know if we'd ever owned a home before! About five years ago, I bought some vacant land that we will someday build on, and apparently they consider this to be a residence. I composed a three page letter and sent to the IRS, along with thirteen exhibits (land purchase contract, google Earth picture of the vacant lot, screen print of the tax assessor's website showing that no improvements exist on the property just to name a few). We sent the package certified mail and the IRS received it a week ago. Am hoping that this will be the end of it, as we plan to use the money to replace and extend our fence and backyard patio. How frustrating!!!

Got my $8000

Bought my home in September 2009. Filed my 2009 taxes at HR Block in February. They amended it for the First Time Home Buyers Tax Credit. Mailed out my amended return on March 11, 2010. Called IRS in April to see if they received it but they couldn't even track my name. Called again in the beginning of May to see if they had some kind of record of me. Nothing yet. Checked online May 19, nothing yet. Finally lost hope. Yesterday (May 26) checked my mail and I got my $8000 check!!! Expect it when you least expect it I guess. There is hope!

8000 tax credit

what is the number that i can call to check on my return
is there a web site that i can log on to check it we have been waiting about a month now and have hurd nothing

thanks for any help

Contact Number

I have been calling 800-829-0582 ext 362. Good luck, I know I need it

2009 first time home buyer credit

wow.... there is a place where we can voice our opinion and issues about this credit.
i am like most of you guys here, i filed on 2/10/2010 and about 2 months later i recieve a letter stating more info. and forms are due (form 5045)...i mailed it back the same day, a week later i go to "where's my refund" .... i got a expected date of 04/27/2010... i called them (20 minutes later), i talk to representative telling me its in process and to wait an additional 4-8 weeks... so, after 3 and a half months i still havent recieved no refund. This is an incentive program that we are qualified for and as tax paying americans WE DESERVE IT...

Thanks for reading and have a great day!

3.5 months and counting....

I live in Ohio, i mailed my 2009 taxes with my FTHB form on Feb 13, 2010 together just regular US postage. The IRS website didn't acknowledge receipt of them until March 20th. I then was told that i should have my refund by April 20th. I called and was told that a letter was mailed on April 9th requesting additional info (HUD Statement)-i received that letter on April 19th. The additional info was faxed on April 21st. I was told it would be 4 weeks to process it. but the department that it was faxed to doesn't update their incoming faxes in the system regularly so they coudln't confirm that it was received. i called on May 17th and a lady from the IRS said that she would send a 'referral request' for me and stated that i had 'zero days remaining on my account.' She said the referral request meant that the IRS would either release my funds or generate another letter if they need additional info AGAIN. however, the IRS has 30 days to respond to the referral request of course! So, i called yesterday (may 26th) and the lady said my paperwork is no longer in the Errors Department & they received my fax in April. So it should be 6-8 weeks for regular processing now. I told her about the referral request, and of course she was quick to point out that they have 30 days to respond to the referral.
SO, i'm still at square one as far as i'm concerned. The IRS website will no longer give me an expected date to release my funds or anything. Everytime i call the IRS they say it will be 4 weeks, 30 days, or 6 to 8 weeks....they always can give themselves more time no matter what. i asked about them paying me interest. supposedly it begins accruing after 45 days but they wouldn't say when the 45 days started.
I haven't gone out and blown money but i bought my house with the impression of having extra money to pay off monthly bills so i could be more comfortable. now 6 months after closing i am still struggling and it's the IRS' damn fault! I have city taxes that i owe that were erroneously NOT taken out of a few checks...i dont have the money to pay it but it was due april 15th and you BETTER BELIEVE that i will be charges fees out the ass because the IRS wants their money when it's due or there are consequences! I'm just beyond pissed! i'm fortunate to have a job and a house and good health but don't promise money and then talk like you weren't expecting so many homebuyers! the IRS just wasn't prepared and were hopeful that the US would fail and since the homebuying standards are so high, they figured that they couldn't get so many people to buy homes because of our economy. So has anyone else been in this situation? around my time frame? and has already received their money? please someone give me hope! i have vacation on June 7-11th and i'm hopeful to have my money by then!

exact situation

Even our dates are exactly the same. From the time you should have had your money, from the time you called, from the time they gave you to have your money! 4 weeks, then 6-8 weeks. NO ONE HAS THE SAME TIME FRAMES! They won't tell you when the time frames started. They won't tell you anything. They told me to call if I didn't have my money by 4 weeks from 4 weeks ago. That was June 5. So I called. The woman told me, well it takes 6-8 weeks. My husband and I luckily had the documents on email and were able to figure out exactly when we sent in our HUD and it was April 21 actually. We should have our money around now if I go by what the first guy told me. If I go by what the mean lady I spoke to told me, then by July. Good luck. I might go to one of the local offices and shed some tears and see if they are more helpful. This is rediculous. We are in the same predicament. I have a loan I took out to pay off when we moved into our home.

Another extension!!!!

I hope you have better luck then I do. I mailed my paperwork in certified on Feb 21st. They didn't register it unil the end of March. Finally my expected refund date showed up, which was supposed to be by May 4th, I recieved a letter on April 24th stating my signature was not on the tax return. Now I know I signed that paper. I made sure that all the ts were crossed and all the is were dotted before I sent it out. How are they going to send my this dang paper a week before I was going to get my refund??!!! I called in several times and no one ever said, oh ur missing information. Then on the letter it says that once they recieve this paper, I can expect my return 6-8 week from the date they recieved it back which was April 27th. I was pissed. So, I quickly mailed back the form. I've called back twice now and they say the same thing, on that paper it says 6-8. WTF. The status changed back to processing. Its been in processing forever. Today I I tried to logging in to see if the status has changed, but now its saying that my info is wrong. Ok, let me call. I call, finally I got someone. She tells me that as of this Monday, that the wait times have been extended. WTF WTF WTF. I mean really. So instead of 6-8 its now 12 weeks. This is bs. So 8 weeks would have put me at June 25th, but with the extension she said it out until July 14thish. I cannot believe this. I am so angry. Reverse the situation and owe them money and they are all over you like maggots on a dead animal on the side of the road. If they knew they were going to get an overwhelming amount of returns, they should have hired more hands to help. I mean the government whats to talk about jobs, well we need them, you need us, so hire more people so we can get whats rightfully ours.

Im a single mom, I bought my house in November. Don't get me wrong, I can totally afford my house, but with having a 7yr old child, everything increasing in price such as electricity gas, you name it the price has gone up on everything, I NEED MY MONEY!!!!. I support charging intrest and late fees, if they can, why can't we!!!.

in the same boat...16 weeks and counting

Your story sounds very similar to mine. I bought my first home in May 2009 (finally moved out of my parents'!!) I mailed my forms on February 9, 2010. When I hadn't received my check by the date listed on their website, I started calling the IRS. They said there was an error with my paperwork, and although they couldn't tell me what the error was, there were zero days remaining on my account. After several more unproductive phone calls to the IRS, they sent out a referral request and asked me to call back in 30 days if they didn't contact me first. Surprise, surprise, I received no word. I called the IRS one final time and was told my paperwork is somewhere in Kansas, sitting in processing with the same error status. Since I waited the necessary amount of time the IRS wanted me to wait and received no satisfactory results, I was referred to a taxpayer advocate. It took about a week for an advocate to be assigned to and call me back. I faxed a copy of my return last week (late May 2010) and am expecting a phone call, updating me on my status, on June 14.

Unfortunately, I needed a new roof and new appliances, so I've already spent the money. My past refunds were received in a timely manner, so I never would have imagined it would be any different this year. This is the first time I've spent my refund before having it in hand. Lesson learned :( I can only hope we are nearing a resolution.

Same thing pretty much

Same thing pretty much happened to me complete with the faxing the hud agreement even though it was sent with my initial paper work. Faxed it in and after five weeks nothing. They did the 30 day verification with me just a few days ago. So frustrating. Especially when my income tax return is included in my home buyer tax credit.

Be sure to change your addy, if you amend your taxes for credit!

Somewhere on this page...waaaaay down towards the bottom---someone posted about making sure to change their address with the IRS, because if you ammended your tax return, you will get a check---it will not be directly deposited.

This is very important!!!!

After just calling the IRS, (because I wasn't sure if my husband had done that or not --and he hadn't!), they verified this. (We're on our 12th week of waiting...While they said everything looked fine, they did say not to be surprised if it more than likely took the full 16 weeks to recieve...*sigh*) I'm not sure the change of address form (8822) will make it in time or not, but I'm keeping my fingers crossed..

I've been on too many sites to count today, but this was the first I'd heard of that...so just wanted to pass this along to everyone. If you haven't changed it, be sure to ASAP!!

:O)

Sarah

What is the Phone Number you are using to call the IRS?

We've been waiting for several months as well, but I don't know which phone number to use to get someone at the IRS - I looked up one number, but I couldn't get past the automated messages. Please help!

I hate the IRS

We filed our taxes on February 13 and they sent us a letter on April 1 stating that they needed additional information. So we sent it and it was received April 9. By April 16 they started reviewing it. Just yesterday I checked the website and they told me they had reduced the amount of our refund and were only sending us the part without the credits we claimed. I called them and they said that they were still looking at our HomeBuyers Tax Credit however that they mailed out a paper explaining what's going on to us. Anyone had this happen to them? How long did it take for you to receive the money? We don't NEED the money, however we do want to pay off one of our cars so that we can have extra money when we get pregnant. It's just been a hassle and I did exactly what they asked of me and yet they can't return the favor. I plan to call back every few days. I'm livid and contacting my congressman is on my to do list.

I know what you mean

we mailed our return on Jan. 29th 2009. I called 3 days before our return was to be deposited into our account then on that friday all but the 8000 was in our account. I called the IRS and they said the same thing, that we would receive a letter. Our letter required us to send in more documents that they requested. I did that on April 8th and they received it April 10th. I have called every week since to see the status of our case and they say nothing yet cause the case load is backed up. I received a letter that I SHOULD have a response by June 26th. Then it will take 6-8 weeks to get our money if they process our stuff by that time.

same old story

wow!!!! reading all these posts makes me a feel a little better that i am by far not the only one dealing with the craziness of the IRS. We bought our home in July 09 and mailed in our tax return late january 2010. The IRS web site soon stated that "unless there is a probem, you should recieve your refund by March 7". Well, on or about March 3-4 I recieved a letter in the mail stating they needed a copy of my Hud-1 paperwork. I called and was told "something was missing but they couldnt tell me what. I then re-mailed my hud1 paperwork as well as a copy of the 1045 form. It has now been over 2 months and I called and was told the system shows i never responded within 30 days as had been required. I am sick over this. Tomorrow we have an appointment with a local IRS office for what its worth to try and find out whats going on. I don't care if I have to wait, but I'd like to know if they have my paperwork or will we hear something else is wrong. My brother who lives in Chicago got his refund...no problems in less than 6 weeks....he was also a 1st time home buyer. My aunt in AR has been getting the run around like I have been. Its sad,,,,but the IRS is claiming (and i'm sure its true) that a lot of the hold up is due to all the fraudulant returns they recieved from people who werent 1st time home buyers but claimed they were....I guess all we can all do is be patient and eventually it will all get worked out. Good Luck to all...and I'll post a short message of how it goes at the local IRS office.....

Tax Credit... for real?

I filed my taxes back in February to ensure that I will get the fund in place by May. April I got a letter stating that they (IRS) need more info, thus had my CPA provide the information they needed (faxed). Waited until today, only to find out they have adjusted my tax returns therefore I will only get tax return minus the $8,000.00. Not knowing rather it is due to error or the decision is still pending (giving our government benefit) I called the number provided by IRS. After holding for 30 mins or so, the person at the answering end told me that my $8,000 tax credit has been denyed. I asked for the reason as to why, seeing as this is my first home ever, and that I filed prior to April tax filing period, the person answering my call told me "It is reviewed and only the reviewer has the answer." The IRS person also told me that it will take about a month for me to get the letter stating the reason. Now I am a situation where I have to wait for their response which will take a month from Friday, at which I guess depending on the reason I will have to amend or correct... Then I probably have to wait yet 3-4 month to get my return. THIS IS REALLY UNFAIR, AS THE CURRENT "GOVERNMENT" HAS GIVEN THE TAX CREDIT TO PEOPLE WHO HAVE NOW PASSED AWAY OR MINORS WHOM APPEARNETLY HAS BETTER ACCOUNTANT THAN ME. I can understand they are taking more time to investigate the matter in detail, however at a point where proper taxpayer is being rejected from getting the proper returns... and also I can only say... "WHAT WOULD IRS DO IF I DIDN'T PAY THEM THEIR SHARE OF MY INCOME (IN TAX)." Would they wait this long to collect it from me?

Tax credit

I am in the same boat as u!!! My hisband and I went to H & R block on feb 1st and filed taxes ..We jsut got married and with buying a house we didnt want any hassle thinking that if we go to H& R block first time filinf together with house credit should be no problem right,,, haha silly us,,, We recieved letter on april 1st stating they didnt recieve our w2's so we refaxed in our W2's the same day april 12th. We went on Italy and came back june 1st still nothing.. so i called and The Ird refused tio talk to me said they needed to sepak to my husbadnd, and hing up on me after i sat on hold for 45 min. When my husband came home he called and they told him the same thing, Said we will be getting our federal minus home buyer credit 8k, My hisband asked why and they said it has been placed on suspension! We went to H and R block.. a professional tax comapny and i am sure there was no mistake,, I included all paperwork. Closing statements, everything and its Suspernded!!!! Its bull crap,, the most frustrating thing is there is nothinbg we can do or no one to call to help!!! its money that we desreve,,, I mean dont get me wrong one day i was going to buy a house but i wouldnt have jumped on it so quickly if i would have known that the government was going to months- years to give us our dam refund! does anyone know of someone that we call or something that we can do,... Maybe we can all get together and do a petition or something to try to speed up this process... Its ridiculous. we are all tax payers and the governemtn promised us something now hold up ur end of the deal and give it to us!!!

Still Waiting

I purchased a home and closed on February 28th of this year and turned around that following Monday and had HR Block do an amendment to my taxes since I had already filed them in January 2010. The lady tells me it will take 8 weeks for them to mail us our check. I was fine with that. So I overnight-ed the documents she said I will only need to send which was the HUD1 form with the tax papers. After about 6 weeks, I decided to call just to check to make sure they had received it in the mail. After 25 min of being on hold ...I got a rep that said they received it on March 8th and it was in processing. I was like thank god! But now.... we are 12 weeks into this...and it is "still in processing" What the heck is taking so long on the tax credit?!! When I called today, the lady told me, I might be lucky to get it by Christmas! I cant go to the IRS website to check it under "Where's my Refund" because evidently they don't track Amended returns from that link. Anyone have any advice on what to do? Or how to check the status if there is any way other than calling? Id like my money before winter!

Here's my story: Closed on

Here's my story:
Closed on my home November 17th 2009. Decided to file it with my 2009 taxes. Dropped it into the mail January 20th. Sometime mid February it finally showed on the website that it was received and would be processed.
Eventually it showed that I would receive my refund April 6th.
Then on April 2nd that changed and said there wasn't information available on my return and that I should call. I called and he said something would be mailed out in the next few weeks but couldn't give me information over the phone. Well turned out when i got home I already had it in my mailbox that day. So it said I was missing my settlement statement (that was stapled to the rest of my return) I had this refaxed the very same day. I called 2 weeks later and was told that on April 2nd they did receive my correspondance but that it took 4 weeks to process. So I waited 2 more weeks which made it 4 weeks and was told it actually takes 6-8 weeks so I have just been waiting. Well today which is 2 days from making it another 8 weeks (4 months total) i checked online status of my refund and it tells me "The balance of your refund, $4,917.00, will be direct deposited on May 28, 2010. You will receive a notice dated June 7, 2010 that explains in more detail the changes made to your tax return" that is my tax refund withOUT the first time homebuyers tax credit...... so I'm going to try and call after work today and see if I can get anywhere.. hopefully it wasn't denied like some others for odd reasons.. or maybe i'm missing yet more information..........

WTF

RECIEVED BY IRS FEB 12 FINALLY SHOWS UP MARCH 17 SAYING WILL RECIEVE REFUND BY APRIL 20. APRIL 5 GET LETTER SAYING NEED HUD STATEMENT (WHICH WAS ALREADY SENT) BUT WHATEVER SENT AGAIN. IRS RECIEVED FAX APRIL 6. I HAVE CALLED EVERY WEEK AND NO UPDATE. WAS TOLD TO WAIT THE FULL 8 WEEKS FROM WHEN I SENT FAX AND IF HAVENT GOT REFUND CALL BACK.

finally received refund deposit confirmation

After encountering frustrating run around nightmares in an attempt to receive my irs homebuyer tax credit, I found this website a few months ago and I have bookmarked it since. I am writing to say that there is light at the end of the tunnel with the IRS. I filed for my tax credit January 22 and have finally received the wheres my refund update that a deposit is to be made May 28. I was audited, examined, asked to submit the same documents I had already submitted three times before, had the tax advocate who I am not sure was much of a help except to wait for the IRS to complete its exams, my expected refund date got pushed back five times, IRS representatives I would call would always give me the same generic information of limited or no information was available for my status and now finally a deposit date. Hope that date will be correct.

NEED HELP PLEASE!!!

I want to send over the paperwork myself, but find the 1040 x foem verry hard to fill out. Can some one please tell me what and where to fill out please?? Also i inluded a copy of the HUD-1 form. Do i also need to send them a copy of the contract??

Did anyone helped u fill out

Did anyone helped u fill out the 1040x form yet? Can u please help me out. I bought a home and don't know how to fill out that form. thanks.

Has anybody else had this...

I bought my home in Oct 2008. I was upset when all the credits started coming out for people that bought 3 months after me, but hey that’s life right. Anyway, so this year I go to do my taxes with my accountant and she tells me that there is this tax credit for people that bought their homes when I did, she tells me about the 7,500 interest free tax credit loan thing that I’m sure many of you have seen. So I say sure sounds like a great deal! Do the paper work, put it on an amendment of my 2008 taxes, and my accountant says it will be about 8-12 weeks. Cool.
Well now it’s been almost 16 weeks so I want some answers. My accountant tells me she did everything right and it should come any day now. Well I’m not that trusting so I call the IRS and play the phone maze game for a while until I get to talk to someone.
Here is where it gets weird. I talk to this person for just a few moments, she gets my info, comes back and says it hasn’t been processed yet, and then she tells me that she might be able to do something and to hold for a minute. So I wait on hold for about 2 minutes and she comes back on the line tells me that SHE just processed it, they’ll cut a check in 2 weeks and to give it another 2 weeks for the mail.
SO great! Looks like my check is coming in about 4 weeks. But does it seem weird to anyone else that some random person on the line at the IRS could just take my credit from “not processed” to “here’s your check” in 2 minutes??? I hope it’s nothing stupid and I’m just being a little paranoid but I thought it was weird and thought I would bring it up here. Thanks and I hope everyone gets what they deserve on this site!

frustration

I have filed my taxes on February 2nd. After checking the IRS webpage I realized that they were going to request more information. When I called I was sooo excited that they were going to release all of my 2009 return, but were just "examining" my FTHB. So I received a letter for additional information and immediately sent it back in April. Now more than 30 days have passed and it has gone nowhere. The lady on the phone said I should expect, at least, an additional 60 days. What??? So I took all of your advice and contacted the advocacy group. They asked if I was having financial hardship. I explained that my fiance was layed off and the money is necessary to help with bills. He informed me, not so kindly, that until I have a foreclosure notice or my utilities have been disconnected they will not help me. So basically until my house I just purchased is foreclosed on then there is no help? This is just insanity to me. Sooo I guess we just sit her and wait. Unless someone has another idea? Thanks for all the post. It is nice to comiserate together :)

I took the advice of another

I took the advice of another poster and left a sobbing message to my senator. They responded back the next day and are doing inquiries on my behalf. We currently have the code 1301 on our tax return page and calling the IRS is bad.

So now that the senator is having people look into it for us, we think we might get our money faster. So far going on 5 months and counting, they are still saying end of June-early July. They also claimed the financial hardship as well to us, and we told them we're a miltiary family and we're always in hardship.

no return yet!

Today is May 25. I filed my taxes with my tax preparer on Feb. 1, 2010 and mailed it out that day. On March 31 I received a letter from the IRS requesting the settlement statement HUD form which I faxed immediately. I called the IRS a few days later to verify that they received it. Although I had gotten my tax return by direct deposit for years my tax preparer said that I couldn't e-file my return because of the first time homebuyers credit. I have come to find out this is incorrect because I have friends who filed and already received the credit. On the 'Where's my refund' page it said that |I would receive my refund on or by April 13. Once that date passed the page changed to say we have received your information and we are processing your return. Repeated calls to the IRS and always getting that same response. Last week I was assigned a tax advocate. She asked me about the letter and the settlement statement which I sent and told me to send her a copy so there would be no discrepancies. Yesterday the tax advocate called me and said she issued a tax advocate order to the IRS to complete my tax return. The lack of work and money here in Las Vegas has lead to me falling behind on everything and the first time homebuyers stimulas package has turned out to be anything but a stimulas package for me! My return has been coupled with my regular return so it is a substantial amount of money. The tax payer advocate also said that she would call me back on June 16th for an update. Now I am wondering if I can change my return to direct deposit since I seemingly was misinformed by my tax preparer. Does any one know? I have used all my sources to keep going, the economy has turned for the worse in my trade. The whole thing is making me ill, literally. Ironically they have a good sum of money legitamitly owed to me to keep me in good standing with my creditors but it's like they are trying to alter my life. I would have hoped to get some kind of consideration for getting the return in early and complying to their requests....that is to say fair is fair. Any comments would be appreciated.

Sorry man...

Sorry about your plight mate. I work as a CPA and have filed several returns with the homebuyer credit attached, and have some points that I hope may help. Your tax preparer was somewhat correct, a return with the homebuyer credit cannot be e-filed, however you can e-file a return without it and amend a prior year return to claim the credit by using the 1040-x form, it is consensus among us CPA's that amended returns take even longer (sometimes 8 months).However, it seems your preparer told you that you could not direct deposit a refund via the paper file method. That is severely incorrect. If indeed that is what he told you...well, if he was working for me, I'd have to knock him around a bit. I am very sorry for that. As for changing your method of refund, to my knowledge it cannot be done, though I will leave it within the realm of possibility concerning the help of your tax advocate and that it was due to an error by your tax preparer that your refund was not originally selected for direct deposit. I wish you the best and hope some good luck comes your way.

Outraged!!!!!!!

I don't know about the rest of you, but I am totally outraged and incensed to find myself in such a helpless situation. I mean who can you turn to for help when the "wrongdoer" is the IRS? Sure, you can file a case with the Taxpayer Advocate Service, but that's kind of like asking the police to police themselves...moderately effective at best. But just imagine if a private company or individual owed you $8000 and told you that you would receive your money in 6 to 8 weeks. How long would you wait ....3 months, 5 months, 8 months, before you sued them with extreme prejudice? And that's what is so debilitating about this whole thing....there's just so little that you can actually do...and as an American, that's a tough pill to swallow. After all, we are the country built on our "can do" attitude...our David vs. Goliath mentality where being right is more important than being strong, and good really does prevail over evil...right? But what do you do when the enemy is an agency whose very name instills fear in all but the foolhardy? Well, I don't know about anyone else, but I know what I am going to do....BLOG!!! That's right I am going to blog. Why you ask?...because blogging is today's panacea for all of the things that ail us but for which there is no cure. Blogging is the use of the world audience as one big therapeutic amalgam for you to complain to. Years ago, you were told to break old plates, punch pillows, primal scream, take valium, chant Buddhist mantras; today's prescription...blog. Because, trust me on this one, if you try to get someone to listen to a hour long diatribe about how the IRS is victimizing you, their patent response is "don't feel too bad--the same thing happened to my cousin once--have you blogged about it?" I don't know what happened, but I do sort of feel better now.

Everyone who purchased a home that qualified for the Homebuyer's Tax Credit should be outraged at the disreputable conduct of the IRS. Under the most basic terms of law, the United State's Government via the IRS has blatantly reneged on its contractual obligations to those citizens who [in good faith] bought homes, submitted proper tax returns, and to date have not been compensated for their investment in our country's economic health. It is not the case that most of us wouldn't understand if such long delays had been foreseeable

Get this

Please excuse any typos to come because I am so mad. Just hung up with the IRS for the 5th time. We filed 2/20 or 2/22 and waited. In Mid March they said they recieved it and WMR said check coming 4/27. Then a week later said under review we will get a letter. We got the letter and sent it back 4/10 with the copies of additional info they needed and it is under review we included the new address form 8822 that we miled also for the reson below. You will see . Now that is for the $8000. We called to see if they got the fax 4/10 for the additional info.
They said they were not sure but they did send a check for $5649 the other part of refund and it was mailed 4/3 we thought that was weird it had been a week and we haven't seen it. They sent it to the old address because H& R block didn't click the little box for new address knowing it was a new address, HELLO they just did the return for Home buyers credit. We argued that it was all over the return and W-2's what are address is, they said send new address form 8822 and wait 2-3 weeks and she noted the account of our new address. We mailed that in 4/11 when we found that out 4/10. Called again 4/19 said they got the form. They said they would look for the check to be returned to them and issue another one. We called back 2 weeks later. They said they got the 1st check back and allow 30 days for a new one to issue for the $5649. Called back and checked if they got our new address form. They said yes. We got a letter at our OLD address saying the check was returned as I already knew and allow 30 days to send a reissued one.. That was 4/21 from one IRS place from PA. And then another one saying the same exact thing 5/2 from a different office that came to our correct address. Then a day later another letter from a IRS in a 3rd state to our old address about how they recieved our additinal info for the tax credit the $8000 and allow 30 days. This was 30 days after they recieved it. Now we are witing on both checks. we were told on 4/19 a new check for the $5649 would be reissued 5/19 and the $8000 is still under review. It is 5/24 and we called again to see where the $5649 is. GET THIS> They said we see it was set to be released 5/19 but it was canceled and we will send a check for the full amount tht includes the $8000. We were like OK?? so when are you sending it. They said it is still under review we don't know. WE ARE MAD NOW. We followed the steps waited the time and all they had to do was reissue the check. Now someone behind a screen says OH I see they have another check coming we will just wait and send it together. WHAT THE HECK. We were counting on it and have a lay off in the house since 11/09 for the first time with the same company for 26 years and they do this. we asked they send the $5649 as promised. She said she will try to do it and put us on hold. Then came back and said she couldn't release it. We told her we need that they cant just decide they will send later at once and just make us wait. She said she couldn't do any thing unless there was a hardship. We said we do have a hardship been laid off work since 11/09 and bills are way behind. Now they are holding all the money. How can they do that? We understood the review for the $8k but the rest of it? Then I asked for a Tax Advocate now. So I don't know what will happen now.

Keep Fighting.

Get a taxpayer advocate/contact your congressmen.

I closed on our home on 11/30/2009 did the paper work for the first time homebuyer tax credit on December 1st. It is now May 2010 I will finally receive my 8,000.00 tax credit. I am very happy. We built our home in 2009 and still had to send in all the required paper work whatever they ask you to send please send it.

Just take time out and have your paper work in order. For me also I kept on praying and fasting. I did and God has blessed me. The IRS are tough cookies. However, God is Greater than the IRS. I kept on calling them every week and staying on top. Now, I will finally will have the funds to take care of some of my bills.

Everyone Be Encouraged and do not give up the fight!!!!

God Bless!

Hellooo

God has nothing to do with it....It's called time...Regards Atheist for life:) Watch a science program for once in your human life!

Question: I had put a

Question: I had put a contract on a house mid of April 2010. The sale fell through last week, and now I am interested in purchasing another property. Are there any exceptions for those who were in contract as of 04/30/10 but for some reason they had to drop the sale?

What are the chances of this Tax credit getting extended? Should I call my congressman?

wtf

after reading this site and its many comments i decided to call the irs. me and my husband bought our first house in november of 09. we got all our paper work sent in by march of 10. in april we got a letter saying we didnt file a paper correctly and we had to send all our info through again, all of it. after sending that throughi n early april we are still waiting. i called the irs and checked the site and all that is said is no information available. thats is disconcerting. everyone on here has some kind of info from them even if it is saying 6 to 12 weeks. we have nothing. the automated ***** on the phone says call back in 6 weeks. f that.

ime still waiting

II have been waiting for my credit since november of 09 so good luck to you.

reply to WTF

I received NO response. I purchased my home the 1st of Feb 2010 and immediately sent in the paperwork. After waiting 12 weeks, and calling every week, I was given the same answer: they didnt have any record of it. Then, they told me my return had been sent back to me. I had not received anything. I even sent in an ammended address form, to make SURE they had my right address. Finally, I got a tax advocate. She made me send in everything but my right arm: utility bills, drivers license, soc. sec card, etc. She forwarded it to the IRS for expedited review. I called the IRS last week to check the status, they say since I have an advocate, they are no longer in charge of it, and she it, so just talk to her. I am supposed to hear back from her by June 4th. I still dont have my check, but at least I KNOW the IRS now has my paperwork, and that it has been expedited. I agree with the rest of you: This whole thing is a sham. We all purchased homes with the good faith that the goverment would do what it SAID it would do: And most of us dont have brand new homes, which means there are going to need to be at least SOME type of repairs, ours was the dishwaher, air conditioner, and then fridge. I think this was a scam to "boost the economy", but the sad thing is it is boosting all the business owners and repair men, NOT us working class people just trying to live the american dream. Sad to say, but we ALL fell for it. My suggestion is: wait the 12-16 weeks, then dont waste anymore time. If you cant get answers, get a tax advocate/. The only bad thing is the tax advocate wont help you unless you have a financial hardship, meaning your utilities are about to get cut off, or you are about to lose your home. So basically, you have be on the brink of losing it all before they will do ANYTHING to help you. They didnt even bother to ask if my children were being affected because of their neglegence. I guess we have to be as irresponsible with our money as the IRS is theirs before they will actually do anything. Good luck to all!

status

Hi.
Is there any way we could check the status of our FTHB tax credit? does anybody knows what number to call so we could ask about our status? we've been waiting for our tax credit for 3 months now and still nothing comes in our mail =(

finally

after 10+ months I finally received my check today. Nothing was happening with my return until I called for an advocate. The advocate was fantastic and sent updates on a regular basis. Good luck to those who are still waiting.

Been waiting 36 weeks. :(

We bought a home on 07-31-2009. The IRS received our amended 2008 return on 09-14-2009 on which we claimed the credit. They said it would take 6-8 weeks, then 8-12 weeks and then 12-16 weeks. We have been waiting for 36 weeks now. All we have ever received is a letter saying our file is under review. I just e-mailed our Congressman to see if they can help ... well, I was going to say 'speed up' the process. Ha! Fingers crossed.

75 days and counting

I am up to 75 days and counting from the time the IRS has received my 2009 taxes to now. I have received the non First Time Homebuyers piece of my refund (that was around 60 days in). I have received first a letter stating the IRS was reviewing my claim and that no paperwork would be required. Then a few days later I received a letter saying that some add'l paperwork was required. There was a list of items that we needed to submit at least 2 of (things like new DL, moving company statement, bank statement, etc w/ the new address on it). I had already sent in HUD 1 and copy of mortgage stmt. So now the IRS has my return and 5 items that shows that this is my address. I am hoping for my refund soon. I feel like its just cursory that the IRS reviews all of these first time homebuyer claims. I knew I would not get my money quickly so I have not made any plans for it. Please people...do not think you will get your money fast....don't go out and buy something and expect to get the cash in 6-8 weeks. Even if the website says at first you will get your money by date X. For me, the website had 3 different dates of when i should expect the money....and that was ALL before i even got "selected" for review.

I am hoping to get my refund by end of June...that woudl put me at the 3.5 month mark. I haven't really had the opportunity to get a tax advocate because of the fact that i have received letters and promises of the money in about 15 day increments so I figure if the letter says they have 30 days to review my info that a tax advocate will just tell me i need to wait those 30 days. If i receive something else or any kind of denail i think I will take the advice here and contact a tax advocate and send a letter to my state rep who just so happens to be up for reelection in November.

Hang in there everyone....keep track of all your documents (i started an excel spreadsheet and used screen prints and dates to keep track of the process and who i have talked to and put a reminder on my calendar every monday to check the status.

5 Months and Counting

We mailed out 2009 taxes out January 21 claiming the First Time HomeBuyer Credit. The website stated they would not start processing the returns until Feb 15 and start sending out refunds the end of March. Nothing ever showed up on IRS website. Then finally it stated we would receive our refund by April 6. That passed then we received a letter stating they needed our HUD statement again. We sent it out express mail that cost 30 dollars. 3 weeks passed and still nothing on the website about our refund. Called the number on website female stated we would get it by end of April. When that didn't happen contacted number again and a male stated 4 more weeks in which I insisted they send in for a review. 2 weeks after that contact number and they state that it has been reviewed and closed and have no idea why I haven't gotten it, but wait 4 more weeks and see. This is ridiculous! The IRS doesn't have the money to send all this out to everyone at once and is holding it. I contacted my state representative on behalf of all the people in my state putting up with this. Hopefully I will hear something back soon from them or the IRS. It is now May 23 and still nothing on the website. Still waiting...

Sigh

I'm not sure if I've posted here before, if not - I sure as hell thought about it. This website has become my bible. The panic attacks have set in and I'm constantly pinching pennies. They started around the end of April. We really need our taxes back and slowly things are getting worse for us.

My husband and I are still waiting on our tax return. We used our VA loan (military loan) to buy our very first house. We had been hedging for a long time on whether or not to buy one, but when we saw the tax refund of $8,000 - we jumped at the chance. We are idiots.

We filed our taxes via certified mail February 5th, and was received February 12th, 2010. We filled out the forms in the hospital (my mother had a stroke, so we were going to use the $8,000 to help pay for her nursing home during her rehabilitation), and ALL pages were notorized in the hospital. Around March 15th, we got a letter in the mail saying that we didn't sign a piece of a paper and needed to either resend it in or fax it back. Obviously, we were floored by this. We KNEW all the pages were notorized, and we KNEW (checked it 3x, had enough time to triple check) everything was signed.

Whatever. We faxed it back the next day. Called to make sure they got it. Apparently the IRS thinks we live somewhere we didn't because they couldn't verify over the phone our address. Had the moron on the phone argue with me about our TWO addresses here (house and apartment). Finally got the moron's supervisor on the phone, and confirmed that they had the correct address. Previously moron was trying to make us fill out more paperwork ("change of address form" LOL).

We waited and waited like the idiots we are. I've since called in close to 40 times. New due date is May 15th. This has obviously passed. We have decided to stop praying for it. We aren't relying on that money anymore. Our official opinion is that the entire IRS is full of maybe - strong maybe - 2 brain cells combined. Every person we speak to is mentally handicapped and has no idea what they are talking about.

I called Friday afternoon. Got another "genius" on the phone, obviously they claimed our address was wrong as well. Apparently we are now supposed to wait 4-6 weeks from our original deadline of May 15th and that the website/previous calls were a "guideline". That would make it about mid-June or early July, when we filed in FEBRUARY!!! Total wait time of about 6months, assuming it gets here.

I've been keeping us above the red, but we can't afford new clothes for the kids, birthdays, eating out, or even renting a $1.00 dvd. I had to cancel our phone because we couldn't afford it (vonage, as cheap as it gets). I swapped us to dial-up and basic TV...thinking about cutting off the TV as well. This money is what we look for every year. We make very little (I've tried to apply to over 25 jobs in the last 3 months, apparently I'm overqualified to work as a cashier!!), and honestly, I'm strongly fighting with my hubby NEVER to file our taxes again.

Before any of you comment about "shouldn't count your chickens before they hatch", I will try to calmly explain this. We're military, we make crap for money. Buying a house was always a stretch in my mind, our mortage is $300 more then what we paid in rent and our utilities are $150.00 more. Add on that T-mobile decided to slam us with a $400.00 bill because I cancelled our service. Yes, seriously, they did this in March. Want to know their response when we wanted to setup payments? "Don't you have your taxes back?" OMFG!!!

My grass is growing up and I can't afford to buy a lawn mower. My daughters' birthdays are coming up and the taxes were supposed to pay for their presents. We live cheaply and this money is our year's worth of savings. I buy their presents during sale events and pre-buy for X-mas just to save that extra bit of money. I also clip coupons like a fiend.

I've tried to talk to a tax advocate and they constantly refuse to take our case. It is in "review" since April 26th, and the website never changes. The IRS calls never change. My bank account never changes.

So a few tips:
- Live cheap, and don't let the bills rack up
- Call all the time. My theory is to become a huge pain in the butt so they give us our money finally
- ALWAYS file online, we've always done it before...and having to send it in shows us how much the IRS sucks at their job. I bet our tax files are sitting on someone's desk and they are laughing at us!

My next step is to call our attorney. I want our money. We're owed over $15,000. That is a big chunk of "change" and anyone that says "you shouldn't rely on that money" is full of crap. We rely on that money so that we can do NORMAL things everyone else takes for granted. I have two wisdom teeth that need pulled, my daughter needs to be in Kindergarten (cheapest + best quality is $360.00 a month here), and my youngest is growing out of her shoes (she can't fit my eldest older hand me downs). This is just the tip top of my list.

I guess what it boils down to for me is RAGE. I'm frickin' livid that we don't have our money. I'm mortified that I can't help my brother take care of our mother. We're the financially secured ones in the family, and to have it all get so screwed up like this is seriously crazy. I can't even IMAGINE what these people are thinking. They have to KNOW what they are doing and just don't CARE.

I don't know how much longer I can keep pinching pennies. We're currently renting a fridge (we were going to buy a cheap one with the taxes) for too much money and half of it doesn't even work. I can't get a loan to buy a fridge (they don't offer them out here and our only option would be to refinance our car for 2x the interest rate of what we are now), and we are currently paying $220.00 per month for that piece of crap.

No one I know has any idea what we're going through. Sure, I've mentioned it, but they don't really understand. It is so hard to scrimp on just one paycheck and then to have something like this happen? Oh jesus, the shit has hit the fan and I'm stuck at what to do now.

I've always been good with our bills. Paid them on time, never had debt, etc. But this has officially caused us a HUGE problem. It snowballed. Started with "when we get the taxes" to "omg we NEED those taxes". If we didn't have to pay for that fridge or T-Mobile, we'd be fine. But now, we're in the red and even I am having problems coping with it.

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