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

18 weeks LTHBC

Well- we closed on my second home, and my husbands first home in May
Contract date 4/1 and we sent ammended tax return with HUD and 1098s
for 4 years some copies of home insurance, and re tax bills of the home I sold in Nov 09. and sent certified and the IRS received it June 1.
Well I called today,waited about 50 minutes on hold, and the IRS lady said they just closed my case and I have $6,500 coming my way, she said we were approved and my check should hit 2-4 weeks. I asked If you don't have a check # how do you know for sure we were approved , and she said cuz she sees a 6,500 credit on my account.
So I am happy- today is 18 weeks, since they got my ammeded return, and if I have to wait another 4 weeks for the check, I am fine with that.
Though it gets scary and annoying waiting so long for something you thought was so easy. The IRS lady said the big back up was all the fraudulent claims.
Has anyone has a similar experience to mine with a Long time home buyer credit.
Any LTHBC experiences would be helpful

Received my FTHBC check yesterday 21 weeks

Hi- Yaay we got our check for 6500 plus 125 interest.
I had no problems- no letters from the IRS - I just sent in an ammeded 2009 return certified Irs received it 6/1/10
I attached HUD and some 1098 statements from my old sold house
and some other stuff like old re tax bills and home insurance info
I have been reading this blog, and it really freaked me out.
I think we all just have to be patient. I believe, if we meet the qualifications
and send in the docs they ask for we will all be paid, It just takes a long time, and
freaking out, never makes anything happen faster.
BE PATIENT it will come when it comes.
Good luck to all

Update

Just an update... we got lucky and was able to scrap everything we have been saving up to pay the loan off, daughters healthy, and still no credit. I called and was told I was denied the credit by one woman because we didnt make enough, immediatly after I called in to my personal tax preparer where she had documents saying there is no minimum income limit, but yes for maximum limits. Called again someone else told me I was lied to that I would be sent a letter. I received a letter on Aug 30 saying the need addition information. Made copies sent in a stack of everything from land surveys, to the loan doc, I mean everything I could think of put names and SS#s at the top with all the highlited information. I also added stickys to the side of the paper work with a letter to explain and mark what every section in the sticky was. The information was received on Sept 7. I also received a letter saying that the information was recieved and to way 30 days. When I called they said it probably just sitting on the examiners desk in California under many others and he dont know when this person might look at it. Thats just great. But was told to call back on Oct 22. Will let you know how it goes. Good luck!

Return processed in less than 6 weeks - UPDATE

My original post dated 8/20/2010 - Return processed in less than 6 weeks!!
On August 20th, 2010 Terra - Utica, NY (not verified) says:
For everyone who is discouraged and thinks that their return will never come...
I closed on my home on June 29th. On July 8th, I went to H&R Block, and for only $12, they filed an amendment to my 2009 tax return and I mailed the documents to the IRS that afternoon. After reading posts on this site for the past several weeks, I was getting anxious to know whether the IRS had received my return (so many of you have posted that your requests were being denied and/or returned for more information). So, not being able to wait any longer, I called the IRS on August 17th. I had to wait on hold for about 20 minutes to speak to a customer service representative and then answer what seemed like 101 questions...but at the end of all that, they told me that my return was processed and mailed on August 13th, ONLY 5 WEEKS after I mailed my return!! They said I should wait up to 2 weeks to receive my check (which I am sure they have to tell everyone, since it shouldn't take that long for delivery). I am hoping it will be in the mail any day now. And the best part is that I am getting $8,066! Apparently I am getting interest...not sure why, but I am definitely not complaining.

I will post again when I actually receive the check just to give everyone the update. To everyone that has been waiting...hold on and good luck!

*****UPDATE - UPDATE - UPDATE*****
Okay, so 2 weeks after the IRS had confirmed that my return was processed and mailed, I still had not received my check. I called to check on the status and found out that the IRS mailed my return to my old address!!! Not only did I bold, highlight, and list my new address on several portions of the return documents, it would (at least common sense would tell you) only stand to reason that I had a new address since I was filing an amendment for the first time home buyer tax credit. The customer service representative was very friendly, but he could tell me nothing more that quote - I have no idea why they would have mailed it to your old address - unquote. SERIOUSLY?!?!?!?!

Then I was told that I had to wait a full 30 days from the date the check was mailed before they would do anything further, even though they knew the error was theirs. Needless to say, I called back exactly 30 days after August 13th and the IRS FINALLY opened a case for my file to run a trace on the original check to see whether it had been fraudulently cashed. They said that if the check had not been cashed, that they would wait another 45 days to see if it was returned before taking any further action. OMG!!! I was annoyed to say the least but there was nothing more I could do.

The good news comes now....yesterday (9/27/10) I returned home from work and found none other that my newly issued refund check in the mail!! It was quite an ordeal and took many calls to the IRS (waiting on hold for an average of 15-20 minutes each time), but it appears that being pushy actaully paid off.

For everyone who is continuing to experience delays in receiving your refund, please contact the IRS and verify whether they mailed it to the proper address. The post office does not forward correspondence from the IRS, and if this also happens to you, your checked will likely be returned as undeliverable and get lost in the mounds of returned mail that they probably recieve on a daily basis.

I would be interested to hear if this has happened to anyone else.

I closed on my house on June

I closed on my house on June 30th, mailed in my paperwork first of august. I got it back the end of September needing HUD form which wasnt on my checklist from the HR Block. whatever. The package was originally sent to my old addy because that envelope was inside the one they sent to my new address. What idiots! When you BUY a house wouldn't you think you might live there instead of your old address?? Thats ridiculous, you send in 1000 forms with your new addy on it and 1 with ur old one and they decide to send it there. I am still waiting and will continue to wait i guess.

Phone Number

What number did you call to talk to IRS on your tax credit for first time homebuyers I can't find it.

Julio

IRS Phone Number

I called 800-829-1040. More than likely, you will have to answer a bunch of automated questions and then they will tell you that they have no information available. When that happens, you will have the option to speak to a customer service representative. Be prepared to answer many more personal questions...but ultimately, someone should be able to help you,

One word of advise...have a pen and paper handy and make sure you take down the customer service rep's ID number (they will give it to you when they introduce themselves). Most of the people I spoke with were very friendly and helpful, however, there was one person who was very rude and rushed to get me off the phone. If that happens to you, be sure to hang up and call back (that's what I did).

2nd time home buyer credit

Well we are going through He%% with the IRS. They are saying we owe them the $6500.00 tax credit back. They say we have not moved into the home in a timely manner. When my accountant asked where to find this information they said you couldn’t that it was not documented. The home has not been through final inspection so as of now we do not have a CO issued on the home. The state says we cannot move in and the IRS is saying we should have already moved in. The home was a foreclosure so we have had a lot to deal with in order to move in. I just found out not long ago about the CO, it was not mentioned during the sell and not something I would have thought about asking. I would have thought our attorney would have found this. What can I do since it is the IRS, they seem to do what they want to do.

Same Problem

We had our home newly built and completed on 05/11/2010. We had our tax preparer do our amended return for 2009. mailed it out 05/14/2010. Rcv'd all our documents back from IRS on 06/25/10 stating that we didnt include our HUD Settlement Statement. So be it, I had to mail it all back with flags showing Settlement Statement was included the first time around and I sent it ceritied mail and IRS rcv'd it on 06/28/2010.
So I waited 2 weeks called IRS and they stated they rcv'd amended return and it was in process stage and it would take 12-16 weeks to check back on October 18, 2010.
So be it IRS is stalling to pay you, but you owe them they will freeze all your assets and take your money from your pay if you owe them etc...
August 20 we rcv'd a letter stating that they denied our credit that we were disqualified from it because we claim property taxes on a Schedule L on our 2009 return dahhhh we had to pay taxes on property it was empty land where our house was built. So once again I had to send everything back ceritfied mail to the IRS, they rcv'd it on August 24, 2010. I had to write a letter explaining why we filed a Schedule L on 2009 return and flagging all documents, HUD Settlements, Deed to property when it was placed under our name and taxes we had to pay on this land. canceled checks, driver license with current address, contracts from company who built our home.
It's a nightmare dealing with the IRS. especially the long waits on the phone before you actually get to speak to someone. dumb. So once again, I thought I'm just not gonna call them just wait it out. But no I just had to know so I called on Sept 14, 2010 and sure enough IRS approved credit and closed it out on Sept 2, 2010. Nice lady told me our check will be mailed out on Sept. 24th. I was like whatever couldn't believe it until I see a check in my hand. So today my husband calls and says we got our check in the mail from IRS of $8105.00 with interest. WOW.......WOW Finally.

YOU ALL WHO ARE WAITING FOR YOUR REFUND, I HAVE YOU ALL IN MY PRAYERS. GOD BLESS.................

Can't Believe it Myself!!!

We closed our home June 30, 2010. Slacked on amending and did not get the paperwork off until August. IRS received 8/22/2010. Checked the mail yesterday, 9/20/2010 and there was a beautiful green check in there. I was reading everyone else's stories and did not expect to see until the first of the year, so there is some hope for the IRS!!! Good luck to the rest of you!! It is possible!!! We got ours 4 weeks to the day from IRS receiving.

What's the deal

I have closed in 4/10, sent in thru tax preparer in may- they recieved for prossesing 6/6/10- Still no check- they keep saying call back in october- well I am on hold right now with them- My bills are behind- all of them- due to the 598.00 a moth in bills i needed to pay of to afford this home. I am not sure what is the hold up- but it feels like I have been chewed up and spit out of the big machine called uncle sam. Where is the accountabillity and integrity of our goverment. Is health care and other goverment plans going to be opperated this way? Why- Why? should I trust a goverment to do anything. By the people and for the people- I dont think so- It is more like drain the people- break the people, and rob the people- and give them stress and volurabillity in return. I definately intend to vote and I plan on voting someone new into every position- It is time we took this personal- Washington did- Will you?

Update: Good News

Hey everyone, hold onto hope! I waited 9 months from when I sent in my initial ammended 2008 return only to have it denied. They didn't even look at it for months at a time, and then it was shuffled all across the country. Once I received my denial I got together the documents to send in an ammended 2009 return. I sent in a copy of my denial letter, and all of the correct documents. Two weeks later I called to see a status and I was already approved and will be receiving my check in 2-4 weeks! I honestly will not believe it until I am holding the check in my hands, but here's another story of the IRS getting their act together, if only the second time around.

Bought home 4/14/10, Filed

Bought home 4/14/10, Filed amended return 4/23/10 . I checked on the return everyweek since 6/1/10. Finally 7/22/10 I was told that I was going from processing to review. I got really worried at that point so I took the advise of some of the people that had left there blog's and called the tax advacate servise and they told me that the IRS has until 10/23/10. I recieved a letter dated 9/16/10 that my check was being mailed with 116.00 in interest. It was a long road and my advise is to call the tax advacate servise

please help

we have been waiting since feb 2010 when we filed. we have left numberous voicemails with the taxpayer advocate service and never gotten a response. what phone number did you call? thanks for your help!

ADVOCATE

how do you find a good advacate because I've been arguing with the irs since febuary for my homebuyers tax credit and still nothing. first they said i forgot to includ my settlement paper in the amended return paper work and then I sent that they said that was all i needed called back several times and they said everything looked good but wasnt proccessed now they are saying they might be unable to process it but i well get a letter but they cant tell me anything till i get the letter

signed,
annoyed

Omg I'm getting same run

Omg I'm getting same run around as you ... I filed mine feb 2010 and in April they said we didn't send in all forms (bs) and told us to call if not received in June... Well it didn't come and so we called they told us call back in 2 weeks, then again, then again. Now today they are telling us they need utility bills (wth) they are sending a letter out with a list of other crap they need and said could be another 4-6 weeks.... I don't believe it and I'm so fed up!!

Got my check in less than 3

Got my check in less than 3 Weeks. Including extra interest! Sent in all paper work and copies. 3 weeks later check was in the mail !

Bull!

Bull!

Bull!

Bull!

What is the number to call for tax advocate?

What is the number to call for tax advocate? I have been waiting since February, fighting every step of the way, and i am sick of playing these games with the IRS

Hi I have the information

Hi I have the information you need for tax advocate. I waited seven months with the IRS sitting on my refund until i called my local tax advisor, she harrassed them and a week later they called to tell me they had my refund and it was being calculated as we speak, with interest for my 'previous inconvenience'. nice. So go online to irs.gov. now there should be a search box at the top, enter tax advisor and search through the next screen for your assigned advisor. Now each state has it's own advisors, so it's split up that way. Service is free and they dont mess around! good luck.

First Time Homebuyer Credit

Had a home and sold it (escrow closed) in May of 2006. Rented for the 3 years and 5 months. Bought a home and closed escrow October 1, 2009. Filed for First Time Homebuyers credit in my refund, now they are telling me I don't qualify for it. In addition to that I STILL have not received a refund check. They claim they "lost the paperwork" first, now I get a letter saying I don't qualify. What the Heck. I was assigned an advocate and spoke with her once, faxed her my entire return as she requested. Have called three times since and left word for her to let me know if she received the faxed papers ($27.89 later for faxing) and then to let her know about this new letter that I don't qualify and have not heard back from her at all. That was a week ago.

Im bout to give up its BS

I closed on my home May 1st, 2009 which I didnt know I could amend my tax return so I just waited until I filed my taxes at the end of the year to do it. I filed Jan. 1st & got my reg. taxes back in 2-3 weeks I think it was. I have been getting the run around since Jan. 2010 about my taxes everytime I call they say something differ but I dont think anyone beats the one lady who told me. It isnt my money anyways I didnt work for it. Its free goverment money & they can hold my taxes up 2 3 years if they wanted. But whatever the IRS sucks!!! BTW what or who is a tax advocate? what do they do & how much do they cost if they speed the process up any. Also you get intrest on your first time home buyer credit check?

Interest??????

Yes you get interest but we will be taxed on the interest that we receive come January and we file again

giving up

Hey lsiten don't give up because thats what the IRS wants us to do fight for all you can until you have no other way to get the money. tax advocate is free and they will help you. My husband and i have been waiting since last september 2009 have been turned down three times but we actaully qualify so we are appealing it and that where our tax advocate helps us now your could help you differently but they do work if you can the irs number that is on your responses that you get they can give you the number. keep fighting

terry clark

Less than 5 weeks

IRS received my amended return on 8/11/10 and received check on 9/13/10. IRS got sent me a refund in less than 5 weeks. Also got $90 interest.

Something tells me that the

Something tells me that the IRS has people planting information here saying that they are getting refunds back in 5 weeks. BS!!!!

Everyone I know has waited over 6 months and some longer. Hell we bought our home in Nov last year and are still waiting for ours. We have gotten the same run around as most have. I owed a back balance from 08 of 2100 and figured the 5500 would help pay that off and generate a refund...WRONG! my interest goes up daily on what I owe and the waiting game only benefits them.

Also when I called about the seventh time(called about 20 times in total) I told the lady on the phone that they are deliberatly delaying these refunds. She asked why and I told her interest and penalities my dear.

I guess the IRS just takes everyone for a bunch of fools that owe them money. I am getting sick of these bureaucrates who work at minimum efficiency.

There is no way that is

There is no way that is true. Thousands of amended returns are backlogged and the IRS does not have enough staff to process them. I have been waiting for my amended return for over 5 months now. I called them today and they have not even reviewed my paperwork yet.

Something to consider

Yes I did indeed receive my tax credit in less than 5 weeks. I have no reason to lie about that. I was sharing information about what my experience was. If you read further down you'll see a couple of my original posts giving more details.

I have theories about why some people had to wait a really long time to get there refunds. Its all controversial and wouldn't serve any purpose to debate about it. But I have been following this blog for awhile now (well before I actually filed myself) and read all the posts.

Anyways good luck to everybody who is still waiting. And to those about to file do yourself a favor and read the posts on this blog. There is a ton of information and kudo's to those who took the time to share.

irs fax number for the ico rejects team (forgot to sign 1040)

I have been dialing the fax number 816 292 6101 all day and fax gets interrupted with
automated voice saying use 5 digit code or something. Does anyone know what to do with this. Is there another fax number for the IRS? Is it necessary to send the form
certified mail or will regular mail work? Thanks for any help.
SJH

Examination department's fax number

Here is the examination number's fax if you were sent to examination like me. 1-816-292-6217

IRS fax #

215-516-2000 .Try this number. It'e showm on the internet.

So Depressing

Closed on our first house on March 5, 2010. Filed our return 4/1/10. Been getting the complete run around ever since. Call back every two weeks, backed up on FTHB, etc. Hubby finally got someone today who said we were "randomly" chosen for further review and that within 30 days we'd get a letter saying to send in a bunch of the forms that others are posting here (mortgage statement, DL, vehicle registration, sales contract). We're getting all of it together and sending it in ASAP. Been almost six months since we filed. These people should be shot for what they're putting people through.

Further review my *&%

Well I am in the same boat you are in. The IRS received my amended return on June 1st I call every week since the end of August and finally someone told me last week, that my husband had taken out a personal loan and the loan place files the interest statements the same as mortgage interest statements as a 1099 so we were flagged. Now they can see it was a consumer loan but it still sits there in a pile. This is so aggravating. I need this money and they don't care. It is everyone it seems to have bought a home before May. So they said the examination department has 30 days and then I will get yet another letter. I have faxed over everything some things twice. The worst part the house is in only my name not even my husbands and because he is the primary he got flagged so it doesn't matter who's name the house is in.

I feel like I've been forgotten!

I was rejected for the credit because the IRS saw I'd claimed mortgage interest deductions on earlier tax returns (it was for a RENTAL, not a house I lived in...and even though I provided all the paperwork proving this, they still rejected me). I filed an appeal and have waited patiently for 4 months (the amount of time they told me to wait), and now the IRS has no record of there being a problem or outstanding issue on my account!! I asked who I can call to try to get this resolved, and they said the office in Fresno has no phone number. I'm going to try to write them, but I really feel like the US Gov't sold me a false bill of goods! My accountant says there's no reason I shouldn't get the $8K. Frustrating!

forgotten

If you own rental properties, you are not a first time homebuyer. Not sure who told you you would qualify for the incentive, but it was for non professional property owners, which you would qualify for since you own several properties.

That's an untrue statement.

That's an untrue statement. The credit is for first time homebuyers of a principal residence. So if they had rental properties only, the mortgage interest would be on their Schedule E and not their Schedule A. The instructions specifically say that rental property owners qualify, as long as they didn't live in the rental homes for the previous three years.

call a tax advocate

have you called a tax advocate about this see if they can help.

Need some answers

If your a contract buyer can you get the first time home buyer tax credit? if so how long does it take to get the check once you mail in all the required information that is needed.?

answers

If one of your professions or source of income involves the purchasing and selling of properties, you don't qualify.

Getting ready to file FTHBTC

My husband and I are about ready to file for the FTHBTC and I am not sure about an address for the IRS. Do I use an address from previous year tax returns? I am not sure, so any help with this would be greatly appreciated. Thank You in advance.

less than a month!!!

May 18, 2010 closed on home
Aug 13, 2010 (FRIDAY THE 13TH!!!) mailed off 09 amended return....only to realize a few hrs later that I wrote the wrong SSN down for my husband!!
Aug 16, 2010 called taxpayer advocate and informed them of the mistake id made and was told they noted the account that I had called only 3 days after I had mailed the return to correct the mistake. I was also told to wait 90 days before checking back with then about my check!!'
Sep 09, 2010 called the taxpayer advocate to check and see if they had found the mistake and see if I needed to send in another amended return. I was told my return had been processed and my check would be mailed off sep 10!!! just 28 days after I mailed it off! So if it was suppose to be mailed yesterday I should receive it within 3 to 4 days...I will let yall know if it happens.

Mailing in 2009 Amendment

What address did you mail your amendment to? Did you just mail the Form 5405 and your HUD-1 statement? You message gave me hope that this will actually get done! Thanks for the help.

Half of FT owners credits must be returned to IRS

Just saw on ABC news-Detroit that half of the First-time owners who received the $8,000 must now return the money to the IRS as they have been declared as actually ineligible? This is nationwide.

This should make it very interesting for those who were borderline receivers of the funds and are now ineligible.

WHOA!

11 Months Later ... Yesss!

It took 11 months and several denials to get the credit. They said, of course, that the home was not in my name (yeah right).

As others have said, having the right taxpayer advocate made a WORLD of difference. She was REALLY heaven sent.

Please .. Do ... Not ... Give ... Up.

That's what the IRS want you to do. Apparently, it's a lot quicker and easier to deny you than approve you. Do not let them win. Those still waiting are in my prayers.

Nine months later and still nothing

My husband and I filed for our first time homebuyer back in January 2010 along with our regular return. We were suppose to have direct deposit on April 6, 2010. To this date, as of Sept. 9, we still have nothing. For all of April and May we got the run around saying there was nothing wrong and it should be posted any Friday....nothing. Then finally at the end of May I got referred to a tax advocate. She contacted me in early June and said to fax everything into her..we did so. She then submitted it to the department that handles errors. After having to wait the three weeks they said they had to review it...my advocate was told it was sent to the wrong dept. She then sent it to the dept. that handles the unpostables...was told that they have thirty days to get back in touch...waited thirty days..nothing. Woman who handles dept. said that it was again the wrong dept. Talked to advocate two weeks ago...advocate says she sent it to another dept...which is going to have four to five weeks to look at it. Now we are waiting again..she said she would call back on October 7th. She said she, the advocate, only has two cases that won't stay closed so it can be paid. Myself and one other person..thats it. I know on October 7th, she will say "hon I don't know what it wrong and it is being sent to another person". Because this is the run around I have been getting since June now. She said that in October she will hand my case over to her supervisor if nothing has been resolved. Getting frustrated I asked her will I receive my refund before next year..she promised it wouldn't go that long. She also promised I would have it before the end of the summer. I figure I will get my refund for my 2010 taxes before I receive this one. I haven't even gotten my regular refund yet. The only things my advocate says is you'll be getting a nice interest payment...a couple of hundred extra dollars is not worth how long I have been waiting. I wanted to remodel my kitchen and I started in April, when I was suppose to get my refund...now I am still waiting when I was originally hoping to get the remodel finished by Thanksgiving. Now I know this is impossible. I'll just have to buy some folding tables for our meal. This is ridiculous...my mother owed the irs and they sure jumped on her to begin her payments a.s.a.p...and they are charging outrageous interest on her. So it just shows they take their sweet@@@ time if they owe you..but they will put you in jail if you owe them five dollars.

We got the same crap, we

We got the same crap, we purchased out condo in April 2010, we are still waiting 23 weks now

Took 13 Months

We got our check on 09/07/2010 with 441.00 interest took 13 Months. We closed on 7/31/09 sent in paper work on 08/13/09. After 16 weeks got a letter for more paper work, sent that in even sent a copy from our lawyer that showed buyer & seller signatures. Later on sent more paper work in as needed,called once a month to check. Each time we called it was to find out, it would get so far then get dropped. They would start it again,so that is why it took 13 months. But everyone we talked to at IRS was always polite & we were the same way with them.

First Time Homebuyers Tax Credit

Just wanted to share my experience....we bought our house middle of May (was under contract before the April 30 deadline). I slacked on getting all the paperwork together. I sent it out July 30, IRS received it August 2. Called Aug 15 and they confirmed receipt but said it wasnt being worked on yet. Called back yesterday (Sept 7) and they said it didnt even show up in the system. Not even as being received. So naturally I freaked out. Got home yesterday, opened mailbox, and there was that beautiful green check from the IRS for $8,000 plus $86 in interest. So from when they received it to when I had the check in my hand was a few days more than a month. If you follow the directions and send exactly what they need, everything should go smoothly. I'll check back daily to answer any questions!

irs refund

If you follow the directions, everything will not go smoothly. The only thing that will happen is that you may get lucky and get your credit. Most people will be waiting for months though. My house closed on October 21 2009, and I filed my taxes March 2 2010. I followed every single thing the Irs wanted, and everything my tax person said to send in. After the run around for about 3 months or more they said we never sent in the papers that we had. They basically said they didn't believe it was our house. I keep getting all these letters saying they're starting on my refund, I'll have it by this time, or you'll have a response by this time. All the letters they send out are lies. They asked me to send in about 6 papers. In return, I sent in 26 papers having to do with my address and closing to show them. They received these "papers" which they supposedly hadn't gotten on July 29 2010. I keep calling the Irs to check on this, and I got a letter that said I will have my refund by October 2, 2010. As of September 17th though, they haven't even started looking at mine yet. It's all bullsh*t, and I should get a lot more then 400 some odd dollars of interest for all this crap we've had to put up with. I'm glad you got lucky, but most people will not be so lucky.

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