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

This is in reply to the spoof blog by one of the IRS agents

Please be nice to the IRS agents? They are the rudest people out there. They lied to us , lied again.. lied again and again every time we called. It turns out that they had a poor system designed for dealing with the returns. I don't believe this post. The 6-8 week refund for most people has turned into 20 weeks plus. The IRS did not request military cards and electricity bills. They did not contact us to tell us the refund would be late. Going on 23 weeks with absolutely no correspondence from the IRS. They are totally professional. Do I think saying Yes Ma'am, no ma'am is going to make the fools at the IRS work any quicker or smarter.....no ma'am I don't. Who ever wrote the following excerpt obviously works for the IRS or knows someone who does.. it's a complete joke. People are not rude because they want to be, they are rude because they are fed up with the b.s. system in place

I've been waiting 10 months

It's going on month number 10 since I filed and sent in all the paperwork, I received a letter that says that they haven't done necessary research and that it would be another 45 days. That time has passed and i'm waiting for a response. It's so funny because if I owed them money they would be after me immediately, yet they take their sweet time.

I am not an IRS agent.

I am not an IRS agent.

Being nice to customer service representatives does help. If you are rude to those serving you, being a cashier or waitress, they will "pay you back for it" Letting your food get cold, putting you on hold for 30 minutes and such.

Our packet that we sent in left them no doubt of who we were or that we were living in the home. They did not need anymore paperwork and we filled it out correctly and included every possible thing to ensure their would be no issues.

I am sorry it did not go as smoothly for you, we just got lucky that whoever did the processing felt our packet was accurate and complete.

It went through the Austin Texas Office. I do not know if that matters or not, but my mom used to tell me one important thing.....

Being nice and being patient goes a long ways to resolving issues. I have worked in the customer service field, and when people were being rude I was less likely to go above and beyond to make things easier, instead opting to give priority to those that acted with kindness and respect.

I can tell from your response to my experiance, that you are not a fun person to deal with.....

what documents did you send in?

hi,
i have seen a lot of different documents that people have sent in, and everyone is sending different ones! my husband and i closed on 9/24/2010 and were planning on sending in just the HUD settlement paper, and the 5405 tax form.. but then saw all these blogs with people needing more info. i dont actually have our original agreement contract, but did you send that in? i saw a lot of people just did lisences, bills, hud statement, 5405 and they were okay.. do you think i need to find the p&s agreement too?

I mailed my returm off on

I mailed my returm off on October 2, 2010. I sent it Registered with retuurn reciept as well. This is my second amendment to my 2009 tax return. I had to do the first one because the university never sent me the paperwork for my tuition and then I did this amendment for the FTHB credit. I have received my check with the interest and have not had any problems. I am not sure why there are so many people with running issues with getting their refunds. I received a notice a week before I received the check letting me know that the check was on its way. This is what I sent in:

Form 1040X Amended return
Form 5405 First Time Home-buyer
Form HUD-1 with signatures
Signed contract showing dates and address.

I just wanted to let everyone know to please keep trying. The money is yours and it will come.

9 months

Finally received my FTHC after waiting for 9-months....Hang in there people, it'll come...don't give up hope

I'm almost waiting 2 years

I'm almost waiting 2 years now....

Hey Rocket Scientist

Why are you even here if you got your money??
I am sure everyone here did read the instructions!
The IRS has even sent us letters saying we have indeed filed properly!
The issue is that we were chosen for a RANDOM audit.
Just like everyone else said, you are lucky you got your money, NOT MORE INTELLIGENT then everyone here!
Stop being a hater, especially when you are clueless to the subject of this forum.

Don't Hate, your money will

Don't Hate, your money will come too. Just be patient I'll admit Rocket is kind of rubbing it in. (smile_

I agree. My husband and I

I agree. My husband and I have sent exactly the same things...several times I may add. We have been told by several reps that they have recieved all of our info and everything checks out, they just need more time to review. Then one of them even told me that they are atleast three to four months behind. We have been waiting since March, and it is almost time to file again. We have done EVERYTHING right, and we have earned this credit!!!!!!!!! Christmas is right around the corner with three kids anxuiously awaiting the presents. This credit would sure help. Way to stimulate the economy America!!

Waiting for six months on 11/29/10.still waiting !

On 11/29/2010,will be 6 months I've been waiting for my FTHBC,need this money to pay my property taxes,It's not like I'm pocketing the money,I've sent every document that I had about the purchase of this property to my advocate,Advocate is a joke she calls me every month to tell me the same BS,still nothing,can't figure out what are they doing or what are they looking for. this is just an excuse from the IRS to delay the credit !

In the same boat!!!

My husband and I sent in our amended return certified mail and it was received on June 7, 2010. I called 4 weeks after receipt to see what the status was, they told me that it took 12 to 16 weeks to process. They told me to call back at that time. I called Sept. 27th (16 weeks) and was told that it could take 14 to 18 weeks to process and that I should wait two more weeks before calling. I waited another 2 weeks....I called on Oct. 11th, ironically I received a letter on that same day saying that they needed proof that I lived at this address, a bank statement, a copy of my driver's license and a stub showing proof of my last mortgage payment. I faxed the information on Oct. 12th. I called to verify receipt and they told me it could take 6-8 weeks from Oct. 12th.

I called after 3 weeks!!! I spoke to a very nice lady and she told me that my credit was approved....YEAH!!! However, it could take another 2-4 weeks for the check to be processed and told me to call back next week to get the exact date of when it would be sent out. I did as she asked, I called the next week. Now a different person told me that there was nothing noted on the account and that my credit wasn't approved or denied!!! Huh? What?

Okay, now I am a little worried!!! So, I decided to call back another time....TODAY....now I am told that they did approve it...yeah....AGAIN....and my file was closed on November 9th....but that it will take 3 to 4 weeks for the check to be processed and mailed! That will be Dec. 7th!!!

I can also afford the house I live in, however, my husband got laid-off and I was really hoping on going home for Thanksgiving...but oh well....I guess we will have a nice Christmas and I am using the money to get out of debt.! (all but the house)

All in all... PATIENCE IS A VIRTUE THAT IS VERY DIFFICULT TO LEARN!!!

Same date

Did you ever get your refund? Ours too was received on June 7th and as of today still nothing.

Results?

Just curious...did you ever get the check as promised?

Delaying tactics of IRS

We sent our amended return for the FTHBC last june 28,2010, IRS received it june 30,2010. We mailed all the paper requirements they need (HUD 1 ,Setttlement statement) and we have been following it up weekly. IRS always gave us different answer like: your return is being process, sent to the examination, sent to a review and back to processing. We waited more than 16 weeks just to received a letter from them stating they need more information like current driver's license,bill copies,mortgage statements and etc. They could have posted it before on their site and not misleading people and giving false hope.Its clear that all these are just delaying tactics by the IRS. If they want to make sure that the data sent to them is authentic, they could have called the bank or the settlement company's phone number or call the tax payer as soon as they see the deficiency. Its November now,we already fax and sent to mail the things that they requested.. As of now, they said our return is not being reviewed yet...yeah right! and tthat to wait for 30-60days for their reply. Right now im just thinking that those examiners in the iRS are just sitting and not doing anything to help. is that GOOD PUBLIC SERVICE? I dont think so.....

At their Mercy-We should file a class action lawsuit!

The IRS has been stalling my mother's return for nearly a year. Each time they ask for one piece of paperwork, and then when we send it in, a few months later they ask for it again. They denied her claim saying that she owned her last home. She has never owned any home in her life. When we finally got to the bottom of THEIR ERROR and sent 37 pages of documentation to prove it, they are not responding and will not return our phone calls. I call on her behalf every week and get the same runaround. Even the "Advocacy Office" is a joke! They were less helpful than the IRS employees answering the main number, who always just say that they cannot see the tax documents, only notes on a computert screen, and we will just have to wait.

If the IRS were a private company, they would be out of business. If the tax payers were to treat the IRS the way they are treating us, we would all have tax liens on our personal property. They have all the power, no accountability, and we have no recourse. This is not what I would call a transparent goverment.

The only recourse I can see is a class action lawsuit.

class action suit over IRS not releasing home buyer credit

I skimmed the comments of other writers and our experience is the same. Many delays, more documents to send, a phone call saying we do not qualify, and now a statement that we owe $2000 plus $74 versus getting back $4500.

Once all documents were accepted after 3 tries, we were told that even though we each had owned a home during 5 previous years and qualified as individuals, we having married 4 years ago, were not eligible for the $6500 credit since we bought the new home together.

Is someone starting a class action suit that we can join?

call 18008290582 ext 362 and

call 18008290582 ext 362 and they will look into it for you.

180 DAYS AND STILL COUNTING

My husband closed on our FIRST home the first week of March 2009. We used our 2009 tax return to get our house. So, we filed for the "First home buyers tax credit" and it was noted received on March 29, 2009 by the IRS.
I called in May, thinking that we had to give them the allowance of 30-60 days to receive our refund, and was told it is still being processed and could be another 3-5 weeks. (Really???) So, about July, we were very aggrivated and were checking our mailbox everyday hoping to get our refund. Because we had already received the original tax return for 2009, we couldn't seem to track it online. I finally get a letter in July (3 months after the first filing with the IRS) we receive a letter from the IRS saying that we needed to send them more information. I IMMEDIATELY called them and asked why and I was told that they send our personal information to a lock box in another state for security purposes and it is cheaper and faster if they ask us to re-send the information to them. So, I do...My first question is why would they send away our paperwork for security before it is even looked at. My second question was, how much longer will this take. We then send all of our paperwork and thensome, just to be safe, and start waiting again. It is now November and I have called them just about every 2 weeks only to get the same answer, "it's in the reviewer's hands but I don't know how many are in front of you. We work them in the order they are received." Okay, IF YOU WORK THEM IN THE ORDER THEY ARE RECEIVED AFTER THE PAPERWORK IS SENT A SECOND TIME, THEN WHY DON'T YOU DO THAT THE FIRST TIME!!! I have been told over and over by their (call center) represenatives that they had so much fraud that they randomly started pulling files for extra review and that mine was one of them. I explained that I am a one income family and we are currently a ONE vehicle family. I have three kids. The oldest is 3 and the twins are 2. I am sitting at home everyday without a car. I consider this a hardship..GUESS WHAT, the Tax Payers Advocacy doesn't. The gentleman there that I spoke with tried to make me sound petty. I am not petty. I need a car. When I have a sick kid, the car has to stay here and income can be lost. The GOVERNMENT promised me this money and I don't have to starve and loose heat just to get it thank you!!!! This money I am still waiting on is supposed to be used to buy me a car. One of life's most needed resources. Bottom line, I filed in March of 2010 and it's now November and they told me today that it can take 45-60 days for it to get reviewed and another 3-5 weeks before the check is cut and cleared. So...I should see this refund about a year after I filed if there is even any funds left!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Still Waiting 2

I have practically the same scenario. I filed in June and I am still waiting and supposedly have been selected for some sort or audit. I was told about a month ago that is could be 2 more months. I know of 3 other people that did not have this problem. The representatives that answer the phone are rude and totally useless. I was on hold on one call almost an hour before someone came on the line only to receive no information. I've called several times. Our tax dollars are paying these peoples salaries which infuriates me even more. How hard can it be to verify that I qualify for this money? I got a VA loan for crying out loud. I was counting on that money to help cushion the blow of buying a home. So much for that. Thanks for letting me vent!! I am sure it will do no good.

CALL AN ADVOCATE

I have wrote several times on here we have been waiting 24 weeks and finally I called an advocate and my check is finally being sent out on Monday. You have to nothing will get done if you don't. Stay on top of everything. Good luck it is so frustrating I know how you feel.

Tried that

I've called an advocate in the beginning of October after speaking with NUMEROUS workers from the 1-800-829-0582 number. The advocate has done NOTHING to help speed this process up. The day she told me she needed a copy of the closing statement for a previous house I had owned I faxed it the same day. Now - a MONTH later - she still has done nothing with that document. She told me that I have to "wait" for the IRS to send me a letter (which is supposed to be next week) and then I need to fax her that letter so she can know what they need from me?!?! HUH?? She works for the IRS! Can't she find that out on her own? Yeah I understand that I've been one of the "lucky" ones who were selected to be audited but what's the purpose of having an advocate if they don't even advocate for you!! This is SOOOO frustrating as you all obviously know. I filed mine the end of May 2010 and started asking questions around August. If I would have known that filing it as an amended return would have taken this long I would have just waited and filed it with my regular tax return in 2011!

Tax credit

I bought a house in October of 09. FIled the paper work with my tax return in March 2010. Nothing from the government. I'm beginning to think it was all a fraud. Single Mom and struggling to keep the house.

Homebuyers tax credit

We purchased our home in November 2009 and are still waiting!!!!!
OMG !!! We have been going thru this since March of this year. We went to H&R block to file the amnedment, well they messed it up and we had to do more paperwork. We called after the 8 weeks and they said the sent us a form and letter wanting more paperwork. Sent that. Waited and called again. By now this is into August of this year. Now they sent another letter wanting proof this is a home and not an apartment!!!! Come on now!!! It states right on the settllement agreement what it is (a single family home) plus bank account number and social security numbers. I had enough, so I gathered everything from birth certificates to utility bills and took it all to our local irs office and laid it on the man's desk and said have at it. He took what they needed which wasn't the bank acct, or ss numbers,stamped everything with the irs stamp mind you, and sent it out. It was recived October 18, yesterday we get a letter saying they are reviewing again and we should hear from them in 30 days again !!! If they are unable to to complete the review of the info sent, they will contact us again providing a date when w to expect their response. I say it is a bunch of crap and a scam!!!!! We also are in need of this money, for repairs needed of the house and car. I know somebody that bought their house in April 2010 filed and got their back in June, so what is the problem??? Good luck.

call an advocate. you'll be

call an advocate. you'll be surprised at how quickly it all gets resolved from there

Where do you find an

Where do you find an advocate?

Call and Advocate

I have been logging onto this page for over 9 months since I started the process for getting my FTHBC. My wife and I bought out home on Nov. 20 of 2009 and filed our paperwork in March of 2010 with our tax returns. We waited 8 weeks to get a denial letter saying we didn't qualify because I owned a home, but my fiance was a FTHB. The law states if two people buy a home before they are married and one is a FTHB then they receive the full credit. We called the IRS a dozen times getting clarification and were finally told to provide a marriage license showuing we were married after the purchase of our home, drivers license, utility bills etc. Everything was provided and a letter explaining all details so there would be no confusion. 12 weeks later we received a second denial letter and based on the reason it was clear they didn't even read our paperwork. It had been over 5 months so we finally said it's time to see a Tax Advocate. We went into the local office in Chicago and saw an advocate on Sep 20, 2010. We explained our situation and provided a file with the information that was mailed to the IRS. They agreed that we should be given the tax credit and they started our case. We received a letter on Oct 20, 2010 stating they needed more time to get our file from the IRS (weird, the IRS took forever) and that we would be receiving a letter with more information by Nov 20, 2010 with an update. Today out of nowhere I logged into my checking account and there is a credit from the US Treasury for $8,156.43. I used direct deposit for my initial tax refund so they must have approved our credit and deposited it in my account. After 51 weeks after buying my house we finally got our money!!!!

I wanted to post this because like thousands of you, I was beginning to lose hope, but there was no way i was going to give up. Many of us bought a home for this credit and to do out part to help America get out of this economic downfall. We could have waited and rented like everyone else, but the incentive was too large with the credit. Don;t give up hope, the IRS is probably partially doing this maliciously in hopes of getting people to quit the fight and avoiding payment. If you truly qualify don't give up and contact your local advocate, you will be happy you did. The link is below and you don't have to be in hardship to get their assistance and it is completely free. Best of luck to all of you and I hope you get the money you deserve!

http://www.irs.gov/advocate/content/0,,id=150972,00.html

Tax Credit in a month

Completed my amendment on Sept 20th, 2010. Sent it to the IRS two day priority mail and it arrived on Sept 22nd. I received my check from the IRS for 8131.00 on Oct 26th.

First time homebuyers credit is a joke

I've been going back and forth with the IRS for since April when I closed on my house. I finally got a call from the IRS saying they were denying my claim for the $8000. My wife had owned a home for 2 years and rented it out before we were married. They said we are not eligible for the refund. So now when tax time comes around, I'm forced to fudge a few numbers to make my refund larger to make up that $8000 I was supposed to get. I will get my money NO MATTER WHAT IT TAKES!!

Fraud

So- the bottom line is that you were ineligible for the refund all along. This is not a problem that the IRS created for you, but rather poor planning and neglect on your part. Any reasonable accountant or tax professional could have informed you of your ineligibility prior to the filing of your return. Additionally, this information can be found very easily on the IRS website.

Now you are planning on committing tax fraud in order to recoup your rightly denied credit? You sir are an idiot.

Almost a year now...

As of November 19, 2010, it will have been a YEAR to date that I mailed in my First Time Home Owners Tax Credit Forms....least to say, I am getting VERY impatient at this point. So far, it took them two months to even start processing my claim, I have sent them numerous amounts of info (which was requested by IRS) proving ownership of the home...and have gotten letter after letter stating that they would be in touch with me within the next 30 days...I am so frustrated with this whole process that I am about ready to just give up. I feel that I have been pretty patient up until this point, but come on...a YEAR! This is just ridiculous and misleading. I do not understand why in the world it should take up to a year to process a claim that is rightfully owed...sure would be nice to send the IRS a note saying that I will be back in touch with them in another 30 days...thinking about contacting a lawyer but not sure if it would even help or be worth it! Any advice?...

Call and advocate

THIS SEEMS TO BE THE ONLY THING THAT IS WORKING. CALL AND ADVOCATE AND STAY ON TOP OF THAT. CALL THEM, FAX THEM DO WHATEVER TO BOTHER THEM YOU WILL SEE RESULTS IN A MONTH OR SO. GOOD LUCK HAVE BEEN WAITING SINCE May

Get a Tax Advocate. You can

Get a Tax Advocate. You can go on the IRS website and find the one for your state. They are supposed to help with problems with the IRS when your not getting anywhere. I hope this helps.

call advocate

hey call a tax advocate and see if they can help you speed it along i have been waiting since sept 2009 and i was turned down three times and i am now trying to appeal it but i have a tax advocate helping us try that they might be able to help. don't give up thats what the government wants us to do give up keep fighting until its resolved no matter the out come good luck

Where is my check?

I went under contract on my house on 4/28/10 and closed the deal on 5/17/10. From there I went to HR block and paid $97 to amend my taxes and sent my paperwork to the IRS on 5/26/10. IRS said they received it on 6/10/10 and it would be 6-8 weeks. I called 8 weeks later and was told to call back on 9/20/10. I did that and was told there was no information available and to call back on 10/20/10. So I did that and was told there was no information available. I am now being told to give the IRS 7 business days and if I don't hear anything to call the IRS advocates or whatever. This is getting ridiculous. I sit on hold each time for about 20 minutes only to be told "I don't know what's going on or why 21 weeks later you haven't heard anything". I haven't gotten one piece of mail from the IRS telling me anything. For the record, I can afford the house I bought and am not in dire need of teh check, however the money is owed to me and I want it. I am not one of these people that ran out and bought a house I knew I could not afford thinking 8k would make it all better. I am starting to feel like I am never going to get any information from the IRS at all. Could I at least get a letter saying yes we have your claim and am working on it, sorry its taken 21 almost 22 weeks and counting??

We bought a home in June

We closed on our home 6/02/10. Have proof that the IRS received our file on 6/14/10. Called the IRS mid October and they said they have the papers. It's been 19 weeks and we are still waiting.

To Everyone Waiting for their $$- It Could be worse!!

We got our check in May of this year. About 3 weeks ago (Oct.!!) we got a letter in the mail stating we had to pay back that money - plus interest! Now, the house we bought needed A LOT of work so that money has been spent. It is coming up on winter and everyone know that equals hard times financially. I guess it was our mistake - my grandfather passed away a year and a half ago and we bought his house. Our accountant checked the wrong box - that our house was not purchased from a family member so now it looks like we were trying to screw the govt. I was outraged when I read the letter and after doing some digging they are right - you can't purchase from a family member and I guess because they are deceased it doesn't matter. How come no one said anything about this when all this was going on? I honestly believe that very little people will get to keep their credit money. The govt. will look and pick until they find some reason to deny your money. We had already had to send in more info. that we had actually moved to that residence and when they saw that we had moved there they just had to keep digging. It is absolutely infuriating that my husband and I are trying our hardest to do things right - we both work our butts off, pay our taxes, and don't get any help and we are the ones that get punished. And I know that my money that we are stressing about having to pay is going to fund all of our fradulant welfare recipients - Why don't they take a look at that program? LOL
So the moral of this story it is much better not having the money than getting it for about 5 months and then having to come up with it to pay back.
Thank you our American Government!!

I agree with you, we have

I agree with you, we have been waiting for over 22 weeks now! I am terrified that by the time we get it, we soon after that, will also get a letter stating we must pay it back. My problem with this whole deal is, that everyone was flat out LIED to! I was told this is a TAX CREDIT not a LOAN!! I myself did not go and buy a house that I couldnt afford, just to get a decent chunk of money. It just so happend that me and my fiance were ready to buy a home so we did. Im getting irritated with people saying that its not my money to begin with, when really it is because I was told that if I meet the qualifications and so forth, that I would be given a tax credit. Any how, I think its a damn shame for AMERICAN TAXPAYERS who work theirs asses off and pay for their own way, and pay their taxes, get treated this way. I personally believe all of this is a scam because their is no money to be given, we are in debt more than any of us can probably imagine!! I read an article that was briefly released this Septemeber and it was basically saying that thousands and thousands of people who got the tax credit, were now getting letters stating they had to pay it back and the reason why was because the IRS misfiled or recorded peoples information wrong! Really, now does that sound right at all! IRS you make a mistake and then expect Americans to fix it, no its that they just are lying about all of this! Glad you finally got your money, sorry you have to pay it back! I am now just ready for my nightmare to end

i don't mean to sound morbid

i don't mean to sound morbid but when someone passes, doesn't that mean that they no longer exist? If the house was on the open market then you didn't buy your home from your grandfather because he is no longer the owner. now if the house was transferred to you in his Will and you had to finish paying the loan off, then yes, technically, you did buy from a family member. if that is the case have your husband file the innocent spouse form for payment of his half of the refund, sue your accountant and do an amended return for 1/2 of the money they say you need to pay back. claim all the money you spent on improvements and don't forget the property taxes and related items.

Still Waiting for FTHBC

We have not received our $8,000 credit yet either and we met all the requirements and we filed our ammended return on July 10 through H&R Block. However, we were told that it was taking 14-16 weeks to receive the credit and that we could probably expect to receive it around Halloween. Well, next Sunday is Halloween and still nothing and no letters or response from the IRS. If we don't receive it this week, we will have to start doing some calling. Sounds like the federal government is going bankrupt.. :( They are all getting a pink slip from me on November 2. This is ridiculous.

federal return/identitytheft

I filed a return for 2009.and everytime i try to file it got rejecte TSo

11 Months

I filed my FTHB tax credit on 9 Novemeber 2009. On 18 October 2010 I finally received my check for $8485.82 in the mail box. Yes it is a long frustrating wait. I was rejected once because the IRS told me I owned my parents home in CA when I had not lived there for 10 years. But I was able to collect all the evidence and wait 4 more months and they finally concured that I was eligible for the credit. If you are eligible and can prove it then you will eventually.................. get your money. The $485.82 in interest was a nice benefit as well. Goodluck everyone and hang in there.

IRS wants you to give up

I signed by binding contract on April 25, 2010 prior to the 30th deadline. I closed on May 5th. The IRS confirmed they had received my injured spouse form and amended tax return on May 25th. I called weekly only to be advised that it takes 16th week. I still called everyweek anyway. On the 16th week they advise me that they received my injured spouse form but not my amended tax return (they were mailed attached) and that i would need to start over, to call back in 2 months, if nothing done then they would assign me a tax advocate. I went directly to my US senator for assistance.It is now October! I have provided form after form after form, to be told that now they need form 1040x completed in full lines 1-9. My tax accountant stated that if only the IRS would read their own instruction sheet for filling out the is form it specifically indicates that if you are only applying for a credit fill out lines 10-22 as nothing else has changed on the amended tax return, no income changes, no filing status changes etc...i have sent them a copy of their own instruction sheet and the tax advocate is still telling the senator's office that this must be filled out...what do i put 0 or n/a.?..I feel this entire first time home tax buyers credit was scam from the government. I will however fight until the day i die to get what is owed to me. We would have never bought this house had it not been for this tax credit. I was to pay off my truck with this money so that my mortgage payment could be easily made. Just think what will happen when the government gets ahold of our health care! I feel that every complaint that has ever been lodged online should be copied and sent directly to congress to let them know how they have failed the american people.

FTH Scam

I so agree about the government I submitted my amended return (feb) after getting back my 2009 tax return, and when I would call the call center would give me the it's in process, now it's Nov 2010, and they simply say you have to resend, even when I had it sent certified, the call center is the most rudest unprofessional group ever you can tell they just hate their government job, the senator in my state did not help. So there's no hope for the American people.

Starting to Think It's Never Coming

My husband and I closed on our house in May 2010. We mailed in our amended return for the tax credit on June 29, 2010. We were not yet married when we filed our original taxes, so my husband filed an amended return as single even though we were married when we actually bought the house. We sent in all necessary forms.

We have still not received our credit, nor have we received any letter in the mail indicating denial or otherwise. I'm starting to think we just aren't getting it. I'm frustrated because a month after moving into our house, the air conditioner broke and we spend $7,300 replacing it. We really need that money!

Finaly received letter

I filed for amended 2008 returns for the first time home buyer on Jan. 22, 2010.
After numerous numerous calls and letters I have finally got THE letter of approval. Holy crap man, almost 1 year later. Am I really about to get my check? No, it will be to more months or so they stated. Well, at leat I am going to get it with interest. Some of you guys that say that they have been waiting for ever make me chuckle...

Do you pay taxes on the 8000 FTHB tax credit

I amended my 2009 taxes on June 30th through H&R Block. Mailed in amended tax forms same day. Received my check 12 weeks later. I just need to know when I claim that tax credit as being received in 2010 will I have to pay taxes on it?

You will have to pay taxes

You will have to pay taxes on the interest, but not the credit.

HB Tax Credit

Bought house Jan 7th 2010. Received "approval" letter on July 24th 2010. Here it is Oct. 14th and they're still saying "it's been approved but does not have an assigned mail date...

HB Tax Credit

Ok, here it is Nov. 12th. Just got off the phone with the IRS. Was told I finally have a "release" date which is Nov. 22nd. I was told Monday that I would receive it no later then 11/22, but being that they have given me the run-around I called again today. However, they also stated that it could take 3-4 weeks from the "release" date to receive the check. Oh, and BTW don't bother with a tax advocate. You have to prove HARDSHIP in order for them to help you. We purchased our home 1/7/2010. Sent amended tax paperwork 3/1/2010.

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