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

good news update

my original post on 8/2/10:
I've been watching this site for a few months now and was glad to see the comments getting better as far as timelines go. Closed on my house on 6/22/10 but didn't send in my forms until 7/21/10 overnight so the IRS got them on 7/22/10. I called last night and spoke to a nice woman to make sure they had my new address and just check to see if anything had been noted about it being received. She put me on hold for a minute and said it was processed on 7/27/10 and would be mailed in 3-4 weeks! Told me to call back on 8/16 and they should have the date the check would be mailed out. So obviously it has gotten faster. I only mailed the 1040x, 5405, copy of my contract showing I executed my contract before 4/30/10, and HUD...that's it...I didn't send in any copies of utilities or anything. I will post again once I call back and verify a date when the check is being sent out or when I have received it.

forward to 8/16, called last night 8pm cst-was on hold for 30 mins...got in contact with a very nice woman who checked my file and said my check is being sent out on 8/20/10 with $74 in interest, so if i receive it by 8/23 that is just over 4 weeks since the IRS received my forms. Will post again once the check arrives.

*update-check was in my mailbox on 8/21!...wow whole process took just over 4 weeks so it must be a lot better now...good luck to all still waiting

Question

I closed on my home 6/29 and mailed off my paperwork in the beginning of july and It was returned because I forgot to include my HUD,5045 so sent it back and they rec'd it on Aug 6th and I called on Aug 23rd and spoke to one person and they said that they were sending it back because they need more information and then i called in again and was told it was declined and then I called in a 3rd time and got someone who knew what they were talking about and they asked me a series of questions and said i do qualify for the credit and that a letter was set on Aug 18th and that it was still in process and wasn't declined. She couldn't tell me what the letter said. Has anyone encountered this before? How can they not know what the letter says.

"STIMULATING" my last nerve!

closed on home 29 june 2009. Filed taxes 11 April 2010, for tax year 2009. Sent all relevant docs, except, on 10 April 2010, our Hud-1 settlement statement was obsolete. Faxed the newer version. Now here comes the first delay. We were notified that our direct deposit would be on or before 7 May 2010. Two days before the 7 May date, we get letter #2, and here comes delay #2. They don't want anything from us, they just said our return was under review. Now our refund date was on or before 7 June 2010. Again, 2 days before this date we get a letter wanting copies of everything we had already sent them. Spent $24.00 on copies, and fax charges. 30 days pass and nobody has seen our faxed documents. Okay, delay #3. Another letter from them and now they want copies of driver licenses, bank statements, car registration, auto insurance docs, copy of payment book for mortgage and a letter stating that we actually live here. Delay#4. Now, we get a letter assuring us that our refund will be here 21 July 2010. NOPE! Still under review, but pending any further delays, our refund will be here 21 August 2010. Not only NO, but HELL NO! They have no right to invade our privacy the way that they have by requesting all of our private information. This information has been sent to Fresno, Florida, New York, and Tennessee, which is the reason for all the delays. Well, thats their excuse anyway.

still waiting...over a year later!

We purchased our home on August 14, 2009. On August 15, 2009, I filed an amended return to our 2008 taxes, then I waited until December...DECEMBER! I thought that was WAAY too long, but apparently, that was just the beginning...so I waited some more...until February...then a couple more weeks until March, then I got a Taxpayer Advocate. Have been working back and forth with her for over 5 months and still don't see light at the end of the tunnel...just keep on faxing crap over to her and she sends it to them and they still say they are working on it. I bet it was shredded accidentally or something! These people are idiots! I should make as much money as they do for doing nothing except sitting at a desk with their thumbs up their butts! This damn Obamanomics SUCKS!!! Give money to the poor...screw the middle class...making work pay...what an idiot! Can't wait for 2012!

Response

Same exact situation here. This oct 2010 will be exactly.1 year since I started the process. I have been working with a tax payer advocate for the past 5 months have faxed over tons of proof and still no money. Finaly 3 days ago she said they where needing the settlement statement for my new home I had sent them a year ago??? R u kidding!!!!! They are a bunch of liers.

How Long Does it Take the Taxpayer Advocate

So like many of you the IRS gave me the run around saying i was disallowed but when I asked why no one could ever tell, even after the numerous calls. Supposingly there was a certified letter sent out the stated why i was disallowed which i never recieved. I would think that would be easy enough to track since it is certified.

So moving forward I finally find out about the taxpayer advocate and I am going through this process now. Although it was only by chance i found out about the taxpayer advocate. My question now is how long does it usually take the taxpayer advocate? If anyone knows please email me. I am on my 5th month of waiting for my refund. The IRS...GRRRRRRRRRRRRRRR

HOW LONG DOES THE TAXPAYER ADVOCATE TAKE?

I have a letter from the IRS

I have a letter from the IRS stating they had changed our account and that we will get the tax refund credit. Does that mean it was only approved or is it actually in the mail?

Good news

Got great news today. Timeline:

May 28, 2010 - Settled on home
June 16, 2010 - Mailed amended 2009 return with claim for credit. I used a yellow highlighter to highlight the important dates etc and used 'Post It' notes as tabs to mark the important pages. I went down the list in the instructions and placed a tab and highlight for each item. I marked each tab with a description (contract, HUD-1 etc)
June 21, 2010 - IRS says the recd documents this date.
Aug 23, 2010 - Told that IRS will mail refund September 3, 2010 including $115 interest.

Ten or eleven weeks processing time.

Hang in there folks.

Waiting

I am in week 28 waiting for a sign from the IRS. It took them 4 months to tell me I needed a paper and then 2 more months to tell me they needed more. I keep getting notices that they will respond soon. Well they do, however its with another letter saying they will respond soon. At this point all hope is lost.

I need this $$ for SCHOOL tuition...

Me too. I have been waiting for 28 weeks. And i keep getting the same letters saying, "Still processing, We will respond within 30 days" and they sure do respond, hell sometimes they respond within 15 days, with the same letter, just different wording!
So have you received any other letters?

Disallowed ....

My husband was denied the 8,000$ credit because he is not considered a homeowner since his grandfather left him a coop back in 2004 ... the irs sure has a way of manipulating the system ... this is crazy ... so here it is 3 months later and I just sent in another amendment trying to get the 6500$ credit for long time homeowners, I am keeping my fingers crossed but this doesnt look all that great ...

It took us 6 months to get

It took us 6 months to get ours. We had to fight tooth and nail with the IRS and Tax Advocate Service. It's RIDICULOUS!!

Tax Advicate attitudes

I am dealing a a tax advocate who acts as thought the funds are being paid by her funds. I am fighting them tooth to the White house. My claim was denied, but I am fighting the IRS reason. Hanging in there. Plus she has a nasty attitudes./

Return processed in less than 6 weeks!!

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!

Check Status

Hi, we are in the same boat. We were told they mailed our check on August the 13th too and wait two weeks, it's been more and haven't received it yet. Have you received it yet?

Just wondering.

Thanks,

John

Do you have your check

Have you received your check?

never received mine yet

we closed our deal the end of April and moved in may 1, 2010, we file amended tax may 17, 2010, I called IRS, they said that it will take 12 weeks, I checked almost every two weeks nothing yet, when I called IRS said no information available yet, I wonder what to do next?

I am with you

I am going through the same thing as you. I closed May 8th, filed at the end of May, they received my information June 1st. I have called every week for two months now, I get a different answer every time. Now after it almost being 16 weeks, they told me it is in review, and it could take up 180 days. ARE YOU KIDDING ME??????I am so frustruated. It seems like the people that sent it in after I did, got theirs already. I asked the other employees if I had all the requried documentation and they all told me yes. Now all of sudden they are questioning my return. So upset.

"good news" update

my original post on 8/2/10:
I've been watching this site for a few months now and was glad to see the comments getting better as far as timelines go. Closed on my house on 6/22/10 but didn't send in my forms until 7/21/10 overnight so the IRS got them on 7/22/10. I called last night and spoke to a nice woman to make sure they had my new address and just check to see if anything had been noted about it being received. She put me on hold for a minute and said it was processed on 7/27/10 and would be mailed in 3-4 weeks! Told me to call back on 8/16 and they should have the date the check would be mailed out. So obviously it has gotten faster. I only mailed the 1040x, 5405, copy of my contract showing I executed my contract before 4/30/10, and HUD...that's it...I didn't send in any copies of utilities or anything. I will post again once I call back and verify a date when the check is being sent out or when I have received it.

forward to 8/16, called last night 8pm cst-was on hold for 30 mins...got in contact with a very nice woman who checked my file and said my check is being sent out on 8/20/10 with $74 in interest, so if i receive it by 8/23 that is just over 4 weeks since the IRS received my forms. Will post again once the check arrives.

Bob, have you received your

Bob, have you received your check?

Still waiting...

My husband and I closed on our first home at the end of February. We filed our taxes on or around April 12th with all of the proper forms. Originally, when we went to the "Where's My Refund" website we were told that we would have our tax return by June 23rd. When that day came and went, I gave the IRS a call. Of course it's impossible to get a live human on the phone, but when I finally did I was told that our return went into the error department because one of our names didn't match our social security number. I told them that I was looking right at it and that they did and asked if they would like me to send another copy. I was told that it wouldn't be necessary and that it would be another 6-8 weeks before we saw our return. We never received ANY communication from the IRS at all regarding any errors or problems with our return, but we did call back several times. The last time my husband called and was told that we in fact did NOT file our tax return jointly (um, again, I'm looking right at it and we did!) and that we had NEVER filed jointly (yes, we did last year). He was told that we would see our check between the 15th & the 28th of August. We are getting no useful or detailed information from anyone. We just hope that the $$ is coming soon. It is comforting to know that other people have waited 5+ months and still received their check.

IRS Incompetence

I mailed my return in early June. Called for a status at the beginning of this month, and was told that my check was mailed to the wrong address on 7/30. An agent on the phone admitted that they likely had a data entry error on the number, and that I should contact my post office to see if they would assist. The post office stated that in this situation, it likely would be returned to the IRS but a new carrier was on my route. The IRS states that they still have not received it in return mail. Numerous calls later, they still refuse to put a stop payment on the check and the entire process to send a new refund will take around 8-10 weeks. I'm already in week 10 as it is. If the situation were reversed, the IRS would be calling daily and threatening legal action. I'm still calling daily to see if they received the check in return mail, but it's beginning to look bleak (I live in Alabama, mailed to Austin TX). It frustrates me that there is clearly a problem and that the check is clearly lost and that the IRS clearly mishandled my case, but nobody wants to assist on their end.

Hang in there. Ours was

Hang in there. Ours was also supposedly "mailed" but never arrived. The IRS website indicated that it had been mailed and the date it had been mailed. We had to wait a specified period of time before the IRS would consider it lost. When that time arrived, they had to put a trace on the check to see if it had been cashed, and if it hadn't, they would cancel it and reissue a new check. If it had, they would send us a "fraud alert" package that we would have to fill out and then go from there. Fortunately, the lost check was uncashed and they put a stop on it and reissued a new check. The whole process has been arduous, but we did FINALLY get the money this past week (plus interest.) The house was purchased in July of 2009 and I filed for the first time homebuyers credit in February of 2010. So, seven months from start to finish. I would tell you to follow up with the IRS every week or two for a status check, and document the IRS rep # of who you talk to each time and keep notes on all conversations. Like many others on here, we had to resubmit documents and jump through hoops, which I am convinced are delay tactics on the behalf of the IRS so they can space out payment of the $$. I say this because I submitted everything correctly and completely the first time (and kept copies of what was submitted), yet still had to send the same thing several times. Just stay on it and do not give up. It will come!

GET A TAXPAYER ADVOCATE!!

Finally, I have some hope! I was told that everything finally went through, and they should be mailing my check on Aug. 27th......6 MONTHS after I filed my amendment. There will be a little interest, (but only like $110 for all of you who might be wondering how much interest you'll be getting). After all the crap I've been through with the god-forsaken IRS, I feel like mailing that $110 back to them with absolutely NO information on it other than my name, so they have to work their butts off trying to figure it out. Anywho, during the process, when I was told my amendment was being sent for review, I immediately got an advocate. After reading a bunch of these posts, I figured I would need to. And omg I'm soooo glad I did. I've had the advocate for like 2-3 months. That's quite a while I suppose....but if I never would have contacted him, this IRS crap would STILL be going on for much much longer (I got audited and everything eventually, and had to send in more info a few times)! There was absolutely no reason to doubt whether I qualify for the credit....but it STILL takes forever (unless you are one of the lucky few) simply because the IRS WANTS to take forever. So if they pull this "up for review" crap with you....GET AN ADVOCATE!! Dealing with my advocate was annoying because I had to call numerous times before he would ever get back to me. But hell....I could never get ANY answers from the IRS, and my advocate actually did speed things up quite ALOT! And he also gave me a lot more information than the IRS was ever willing to give up. (Apparently they can look up your returns and see just about everything the IRS can see in your file.) Also, it says that you can only get an advocate if you're going through a financial hardship, but that's not true. When I called I told them that I can never get any answers from the IRS, and they had put it up for review. At that point their 12-16 week time limit was close to up (maybe a month more?) and they still assigned me to an advocate. So even if you're not having any financial hardships, it can't hurt to try. Good luck and hang in there! You'll eventually get it if you're truly entitled to it!

what is the number for the advocate

Hello. I had the same situation that you had. We have been waiting since march, 2010 and nothing. We received a letter from the IRS stating that they are sorry is taking much longer. Nonetheless, I called that the 877 for the advocate and I had no NO NO HELP. I even had one person telling me over the phone, that he was not an "advocate." So I asked him why was he working there then? He did not repply and proceeded to say that I was insulting him, when I was not. I told him that I was glad the phone call was being recorded so that people can hear that I was not insulting him.

Anyhow, could you please give the phone number you called?
What we dont get is that we are to help the economy, why they make it so difficult?

First Time Home Buyer Tax Credit Incorrectly DENIED please help!

Please help, I've done everything right and was denied the first time home buyers tax credit (FTHTC) and I don't know what else to do. I filed a paper copy of my entire return, including the FTHBTC , in February 2010. I closed on my home in March 2009. I attached HUD statement, Mortgage Statement and gas and electric bills. I've NEVER owned a home before and met all of the other qualifications. Eight weeks went by and no return. I began checking online only to be told it is being processed. I began to call and was told I would receive it in a few weeks. I continued to call and would get the run around. Finally both an operator and the online service told me that I would receive it no later than May 11, 2010. That day came and NO return. I called and after an hour of waiting and being given the run around, I was told by the IRS representative that my return was in the "unpostable" department. When I asked for an explanation I was told I'd get a letter from the "unpostable" department by June 2010. June came and NO letter and NO return. I made countless calls with NO answers other than you'll be getting a letter. When I asked for an advocate I was told that unless I was on the verge of being foreclosed or officially unemployed, I could not be referred to one. In the middle of July 2010 I received an IRS check for the amount of my personal return minus the FTHBTC with NO letter or explanation. I called and was finally told by a representative that the FTHBTC portion had been DENIED. I could not believe it, DENIED with no explanation or notice. I was even more outraged when the representative told me that it had been denied due to a mistake on their part. Apparently the IRS denied my claim because they determined I was already a “homeowner” since I had deducted mortgage interest on a home in my tax return. WHAT??? Are you kidding me? The home their talking about is the ACTUAL home I’m claiming the tax credit for!!! The interest deduction is REAL proof that I have actually been paying for this home! Since this was their mistake I assumed it would be easily taken care of but that is NOT the case. I was referred to an out of state tax advocate. The advocate told me, once again, why I had been denied and to re-submit the ENTIRE RETURN to her with a letter via fax. I immediately did so and followed up in two weeks, as requested and guess what? The advocate told me my case had been referred to the Verification Department which should be sending me a letter with an update either upholding or denying my claim. Why? This is their mistake!! To date, I have not received a letter from this department or any other information from the advocate. Someone please help, I don’t know what else to do.

How did you get assigned an

How did you get assigned an advocate?

Denied

They said we was denied for the first time home buyer because my parents gave us the property. My parents gave us the property and we went to the bank and took out a construction loan and build a house. Does anyone know if we should have been denied over this?

Frustrated with the IRS

Have you heard anything from the IRS? I'm in the same situation. I filed an amendment in March of 2009. I received my land from my parents, but went to the bank and got a constrution loan and built a house. I've waited and called and waited and called the IRS and still they tell me a different story everytime. The last couple of times I talked to the IRS they stated that it had been signed to an examiner and they had until this past friday 9/10/10 to make a decision to call back then and find out if I was approved or denied. Called back Friday to get told that it had not even been assigned to an examiner that I was given the wrong information and that they did not know if I would be approved becaue I recieved the land from my parents. My husband called back later that evening on Friday and spoke with a different IRS agent who told him that it had been signed to an examiner but they had 6 to 8 weeks to review it. The IRS does not have a clue what they are talking about much less what they are doing. I think it is crap that just because you got the land from your parents that you were denied. It should not matter if you built a new house. I just wished I could get a straight answer out of the IRS.

Denied

We did the same thing you did. Went to the bank and got a construction loan. We gave up on trying for the First Time Home Buyer tax credit. Because we got our denial letter and it says "The taxpayers do not qualify for the First time home Buyer Credit because the property in question was gifted to the taxpayer from his parents in 2008." Did you find out anything? Please keep us posted.

I was told by an IRS agent

I was told by an IRS agent that land ownership does not count as owning a home so you should have gotten the credit.

Quick Return

I have been reading these posts and stories for a while now about people waiting long periods of time for their returns. So I called the IRS today and spoke with a very nice and helpful lady. I was only calling to see if they recieved my amended return. ( I did not send certified mail) since its only been a little over a month. I Closed on my home June 30th, 2010 and sent my amended return in July 6th, 2010. I included all doc. they required plus a copy of my change of address and a current electric bill showing my new address. Called today (08-13-2010) and the lady told me my return was processed and a check will be sent out on August 20th, 2010.. I wish everyone luck, Esp. those who have waited over a year...

Recieved

Just wanted to give everyone an update. I recieved my check in the mail yesterday (08/23/2010) with 90.10 intrest. Here is a time line for you guys..

June 25th 2010... Closed on Home
July 6th 2010.... Filed amended return with H&R Block/ Did not send certified
August 13th 2010 .. Called IRS/ Stated Check would be mailed on Aug. 20th 2010
August 23 2010..... Recieved Check in my mail box....

Took just alittle over 6 weeks from time I sent in return to time recieved.

Good luck to you all.

Exactly 8 weeks

Closed in Phoenix on 6/10 Contract dated 4/27/10

Had accountant prepare package sent to IRS and signed for on 6/24 (Fresno)

Called today (7 weeks) check is in the mail today

Wait time for IRS 30 minutes to verify info

Seems like they are getting faster if you provide all of the correct documents (Signed purchase contract, signed HUD, and if you owned a home before proof of ownership for the required period) we used mtg interest statements

I suspect they are whittling down the backlog so turn around time is improving

Chris

Things getting better

Reading the most recent posts sounds like things are getting better. You all impress me with how fast your able to file. I closed on my house in late may and only now (mid August) have the necessary documents to file my ammendment. So the IRS received my package on August 11th. I'm hoping for the best.

I was going to do my own ammended return but ran into a lot of questions so I went to an accountant. Just thought I'd share what they told me for the people who have yet to file. I was told to include the following with the ammended return forms:

HUD-1 statement
Sales contract (since I bought my home in mid may)
Monthly Mortgage Statement
Drivers License with new address
Vehiicle Registration with new address

I also included a gas bill and bank statement. From what I read on the internet all the extra information was due to people filing for the tax credit when it wasn't really there primary residence.

And just a little constructive advice for whats its worth. Posting information to help others could actually come back to help yourself if you run into snags. After reading all the posts I found myself just skipping the "I came here to vent!" posts. I guess thats what blogs are good for too but I think most visitors are here to help or get help.

20 Aug 2010

Closed on home: 04 June 2010
Amended 2009 tax return: 07 July 2010 ( I was being pokey getting around to it!)
Called IRS last week and they said they received my return: 12 July 2010
Called IRS today to check on status: refund check will be mailed out 20 Aug 2010

I was getting nervous reading all the horror stories online so I just said enough was enough and I will just let it be, as I should have...: )

When I called the 1st time, the guy said that it typically takes 16 weeks, but that since it's not tax time, it shouldn't be that long...

Hope for the best for everyone!

Cheers!
Shannon

Good News!

I bought my house (land contract) on May 27, 2010. Mailed the packet of paperwork, with all documentation (including a copy of my entire land contract document, including both my signature and the seller's), on June 19 'return receipt requested'.

I then got the entire packet back in the mail on July 19, with a letter stating that they needed the HUD-1 document for my purchase. Well, you don't have a HUD-1 with a land contract.. So.. I called the IRS and the woman on the phone asked me what I had sent in, and said that everything sounded in order. She did say that I should have sent the copy of the land contract that had been stamped by the county as having been recorded. I called the lawyer who handled the sale and they provided me with that. The lady from the IRS also told me that I should:

1) Highlight all of the pertinent dates on my paperwork
2) put sticky notes on all of the pertinent information on my paperwork

I followed her advice, sent a letter of explanation (along with a copy of their original letter to me) and mailed it all back again ('return receipt requested', of course!) on July 21.

I called the IRS the following week to check on the status, and they said they had not recieved the packet yet (even though I had gotten the signed return receipt).

I called again the one more week later and was told, "your request is being processed, call back in one week".

I called back in one week and was told that "your refund has been approved, and your check will be mailed on August 20, with interest". Yea!!

So, all told the whole process took exactly as long as they had originally estimated - about twelve weeks. And yes, I did change my address with the IRS to my new one!! Hopefully my check arrives as expected..

Good luck everyone!

I mailed my amended forms in

I mailed my amended forms in on july 15, 2010 and I waited about 4 weeks and called and was told my check would be mailed on 8/20/2010. I am not sure of the speedy response was because my home was a new construction home and I closed on 7/8/10, so that was pretty darn fast or is it because I used H&R block.
Anyways, so there is hope because after reading these posts I was starting to worry. Good Luck!

got it

closed june 30th,
sent off to irs (not registered mail) July 6th,
received check today aug 16th.

condo:
I sent all 3
HUD-1 statement
closing sales contract with signatures
certificate of occupancy

I also highlighted in yellow: dates, amounts, & signatures.

Good luck
Thanks for posting your advice

12 weeks hugh

I purchased my home on May 7th and sent out my paperwork the end of May. They received my paperwork on June 1st. Starting calling in the middle of July. The first lady I talked with said it could take up to 24 weeks. WHAT? I called back the next week just hoping to get another response and I did. This time they said they received everything, and it could take up to 16 weeks to process. I called back one more time hoping to get an answer that they processed it and the gentlemen told me that they can reassign these to themselves and he would try but someone else has already started working on it. So he told me it would be more towards the 16 weeks and if I don't hear by then, to call back. Really. I was told 8-12 weeks now its 16 what is going on here. People are looking forward to this money and need it, could someone please help. I know some people have been waiting alot longer than I so I know but some people did not wait long at all.

Angry at the IRS

I closed on my home 12/15/2010 and filed my taxes end of January 2010 the same time as my accontant (who also filed her first time credit along with mine). I kept checking online to find the status of my refund, it said by the 04/30/2010 I should get a reply. On 04/30/2010 I got a letter from the IRS stating that they needed extra information to review my case (my accountant also got this same letter). We both prepared the information they requested: Copy of HUD, Drivers license, bank statements, copy of checks (cash purchase of property) made to seller, and utiliy bills, etc. Every single month since, I have been getting lettersstating that they recieved my correspondence on 05/07/2010 and to give them time (at least 5 different letters) I have also called every week since, just to make sure my files were updated and the information I had mailed off was there, just incase they said I was missing anything. On 08/09/2010 I called and the lady on the phone says that there is no records of me indicating that I ever mailed anything, and that they will be mailing me out a letter stating that my case has been DISALLOWED!!!! because I have not paid mortage interest??? Excuse my french but WTF!!! Clearly the IRS have dumped my files, and been giving me the run around!!!... First, my home was purchased CASH, it states that on the HUD and on the copies of the checks, another thing is that I have proof that they got my mail with the information because they have been sending me letters stating when they got the correspondents....and another thing,,,when I call why would they be able to tell me everything on my case on the computer. NOW ALL OF A SUDDEN it vanished in thin air? Is thislegal?

So the lady on the phone was not much help, so I hung up and called back speaking with another examiner who then says to fax her in everything today directly to her line and she will have my case closed. Now let me fill you in on a few things: my accountant got her credit from all the way in JUNE, so the bullcrap they were feeding me with about working in a time frame is rubbish. Also I got intouch with an advocate, I wasn't about to sit on my ass and let the IRS walk over me. My advocate on the other hand is supposed to get back intouch with me by the 08/12/2010.

I don't know what to do but just make a bunch of phone calls to see who I can get through to. I am in need of this $$$, I am a full time student and I dont work.

CAN ANYONE give me some advice!!!

IRS PLAIN LAZY!!! 6 MONTHS +

I guess they're so busy out spending their personal TAX CREDIT, because i'm sure it doesn't take this long for IRS employees to get theirs, they don't have time to move a little faster with ours! Closed on my home in Feb. 2010 and they're still dicking around with the papers. I'm a disabled vet so it's great to have to wait on the IRS to give me MY money, that I really need! I hope this Advocate can make something happen soon because GOD knows the VA is shitty. Take care!

IRS - ggrrrrrr

I purchased a home in March of 2009 and filed my taxes in Jan. 2010. Unfortunately, the title company had not sent me the Settlement Statement so the IRS disallowed the credit. I filed an amended return with the S.S., and 5405 twice upon the advise of IRS reps I have talked to over the course of 8 months and they are STILL disallowing the credit!!!! I can't believe it!!! They don't believe I purchased a home even though I have sent in all the documentation! I actually purchased a home and whoever is "processing" these tax returns are just tossing them aside! I, like you am in desparate need of this $$$$.

IRS. GRRRRRR

listen if you have already talk to a tax advocate they can help you appeal it don't give up keep fighting if you really do qualify keep trying. my husband and I have been waiting a year. Saturday august 28,2010 was a year since we purcahsed our house adn we were turned down three times and we are now working with a tax advocate and we are appealing it.

Curious

How did you close on your home in December when its only August? Maybe thats why they wont give you a check. Hopefully you just made a typo.

LMAO!!...i was wondering the

LMAO!!...i was wondering the same thing!!

It takes time but you will get it

I never post anything but I've been reading posts on this site for the last 6 months so I figured I would post and let all the frustrated people know that you will get your check it just takes a lot longer than u think.

Bought house in May 09 but didn’t file until Dec 20, 2009. Filed my amended 2008 taxes.....certified return and called following week and they said they received it. Needless to say August 3, 2010 looked at irs website and it said check would be mailed 8/6/10 and sure enough yesterday it was in my mailbox....8/9/10

No matter what you send with tax return your return will probably go to exam department... I got $175.44 for interest so when you get upset and think it's never coming just remember it is free money and you will get paid interest.

Good luck

IRS TAX CREDIT

I closed in early Apr, Filrd on time and paid great attention to detail. It has been a fiasco trying to get the credit. Always put off. The Advocacy group is no help. A hell of a way to treat a 66 yr old quadraplegic Vet.

OMG

I have good news for once!

I have called the IRS about 6 times and always got the run around, or the response were they say that they cant help me and I just have to cross my fingers and pray... well I called them today and they told me to expect a check by tuesday!!!! The 5-6 month wait I guess is worth it in some cases! I just wanted to let everyone know people really are getting there money and to hold on cuz it looks like August is the month!

Looking Up!

I purchased my first home and closed on April 13, 2010 I mailed in my Hud 1 and Amended Return on April 19, 2010. The IRS sent my return back to me June 7 becuase I forgot the signature page on the Amendment. I sent it back with the signature and it was recieved on June 14 2010. I called August 5th and the wonderful lady said my case was closed on August 3rd and a check will be mailed out in 3 weeks. So starting from June it took roughly 8 weeks for them to process my return and a total of 11 weeks if my check is mailed in 3 weeks. Reading these posts I think it's just a matter of WHO receives your paperwork and how deligent they are with processing them. Judging by the post they seem to be getting better with the time lines, wish everyone luck with getting their money....... buying a house is nothing small and you dont realize the expense that comes with it no matter how prepared you are !

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