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

wasn't expecting it back so soon

Closed:

6/15

Mailed amended tax forms + closing paperwork:

6/22

After my bro and his gf getting their tax credit a year later (they were missing paperwork) and reading some of the entries here, I was expecting 4-6 months. That and the IRS probably being backlogged contributed to that expected time frame. I called in a week after I had sent in my amended paperwork in not certified (wished that I had for tracking purposes) and they told me to call in a couple weeks. Called 2 weeks later they said to call in a week. Felt like I was getting the run around, but called a week later anyways. They said could take 8 - 12 weeks for processing. I said fine, I'll just call in a couple months. So today I was working from home and decided I'd call them up just to see if they had even received the paperwork yet. The rep I talked to sounded like the ones before and just wanted to get me off the phone by telling me the same ol same ol garbage about time frames. I finally told him please just look up my account to see if I'm even in the system. He came back a couple minutes later and said the check is being mailed out tomorrow and I'll receive it next week. SWEET!!!!!! =)

Homebuyers Tax Credit In Roughly One Month

Filed amended return on 7/8/10
Accepted by IRS 7/12/10
Refund rec'd 8/9/10

If you include proper documentation, you stand a much better chance of receiving your refund promptly. If someone @ IRS cannot process your claim as you have not included the proper documentation then it will most likely sit in a pile until another person works on it.

#1 Always include a cover letter and enumerate the contents of your package. That way you have proof what you included and you know you have met all the requirements. It will help you later on if you need to use the advocates.
#2 Be sure to include either a copy of the 1098's, insurance bills, or tax bills to meet the 5 year ownership period
#3 Make sure you sign your amended returns
#4 If you do not receive refund or correspondence from IRS on a timely basis, ask the advocate to open a case for you (usually after 60-90 days).
#5 If all else fails, seek the assistance of your elected federal officials. Your congressional representatives or senators may be able to make contacts on your behalf . . . and for many it's an election year.
Good luck to all.

My son purchased his home

My son purchased his home over a year ago and still has not seen his rebate! He has sent the IRS document after document and they still will not send him his rebate. Now they are telling him it will have to go before an appeals court and if they rule againt him there will be nothing he can do about it. I saw in the news where prisoners in JAIL we filing false claims and receiving the rebate, yet my son who is being straight with them cant get his..... What is wrong with this picture. Does anyone know who can help.

Getting annoyed

My husband I bought our home back in Dec. 09. We filed with our regular return back in January 2010. We were suppose to get our refund in April. We have never been notified by anyone of anything being wrong with our return. We contacted the IRS in May. We were told it was a glitch on their end ...should be resolved soon. Then came June. We called them again and this time they said they didn't know what the problem is and if it is not resolved in thrity days I will be referred to a taxpayer advocate. July came and the taxpayer advocate contacted me and wanted me to send everything in..bank statements, DL, mortgage statments, copies of utilities, all tax papers, and even my vehicle registration. She looked through everything and told me there was absolutely nothing wrong with my return. Everything was in order. She investigated and found my return was unpostable five times. Now she sent my return to a guy in Fresno..she says I will either get my refund in a few weeks or I will go to a manual exam...wich means another three to six months of waiting. I wish I could at least have the regular part of my refund at least. I didn't expect this process to be going on this long. I know we will be one of the lucky ones to have to wait another three to six months. It is just our luck. I was really wanting to remodel the house because there are five of us in a 900 sq.ft. home. I just wanted to add on an extra bedroom. My oldest is starting his senior year to add to the financial stress. I would be happy with anything at this point. I have been told if I don't receive my refund by Aug. 23...then expect to wait until November at the earliest. This has gotten ridiculous.

first time home buyers credit

I know your pain. I sent my return in March and still waiting. Every time I call them it is a different answer. This is getting really ridiculous. I was counting on this money this summer. Looks like it is not going to happen.

denied

we filed our rebate they placed it on someones desk on 3/4/2010 we ve called 5 times and got the run around so i called fred upton and we were denied because my boyfriend cosigned for his ex wife to buy a house when they were getting married and because they were married his name was on most of thier stuff we now do not get the rebate for buying our first home on his own when he worked 32 years to be able to repair and rebuild his life to the piont of being able to do it on his own and all we were gonna do was put the money back into the house and its the only reason we decided to buy was to receice the rebate because we borrowed the money from his 401k to buy the house. he feels like all the gov. does is lie to us and steal from us hardworking and retired and disabled good americans.

discouraged

i filed on june 15th . i had

i filed on june 15th . i had amended my taxes this year.. the house was purchased in may of 2010, i recieved my check in the mail today 8/4/10!!! not even two months!! yay!!

That was Quick

It's not always a terrible scenario.

I closed on my house May 27th, 2010.
Sent paperwork away to the irs in Kansas City on June 19th
They received it and signed for it June 25th.
I just got my check yesterday August 1st.

I actually called that morning, obviously not knowing that it was coming that day, and asked about it. She said it was a miracle how fast it got processed and they were going to send it out Aug. 20th, once i got home, it was in the mail box. She said that my paperwork must have been really neat.

It only took about 5 weeks processing and mailing time. Now i'm going to buy my big screen that i've been waiting for.

Refund took roughly 11 weeks

Just to give a clue to how long things are taking currently I sent in my amended 2009 tax refund paperwork with all the necessary documentation for my house purchase on may 17th and received my refund for $8K plus around $50 interest on august 2nd.

Good News

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.

I closed on my house in May

I closed on my house in May and called in July they told me it would take up to 26 weeks to process my amended tax return. Hugh

Any Fellow Democrats Out There

Did anyone on this post vote Democrat like I did in the last election? This sure isn't the change I voted for. Another letter today with word it will take another month of 'evaluation' before anything happens. That will make it a total of six months.

IRS sent me $350... Wheres my real refund!

So i bought my house in may, 30 2010. I sent all my papers in. They sent me a letter asking for my signature and a copy of my HUD statement. I called them they told me what to do and told me a process starts over and would be 6-8 more weeks. Today the IRS sent me transfer to my bank account like $350. I have no idea what they sent this to me for... I hope they dont think this is my refund. They have me kinda nervous but im going to call them Monday. I hope its just a portion/%. IDK hope they dont try and rip me off.

Finally received credit after four months

My wife and I closed on our first home in August 2009. We filed our tax return in early April 2010. Early June 2010, the IRS sent us a letter asking for information to verify that our home was our primary residence, so I faxed copies of our vehicle registration, HUD-1 statement, bank statement, and license. July 2010, the IRS sent us another letter asking for more information, this time a copy of our most recent mortgage statement, which I faxed. And now today, I was looking at my checking account online, since it was payday anyway, and there was my refund deposited into it, with interest added. I wasn't even expecting it to be honest. But definitely a nice way to start the weekend.

I hope for those of you who are still grinding through the process that you all will get your credits eventually. After the first time I submitted my info, I called the office that was handling my tax return and got a canned response that they were really busy and couldn't check on my case specifically. After that, I just forced myself to accept the reality that this was gonna take time, patience, and faith in the instructions that the IRS was sending me. The waiting part really sucked, but it was difficult to complain about a situation that was mostly beyond my control.

I don't know if geography has anything to do with how credits are processed. But I live in Boston, and the office that was handling my taxes was located in Pennsylvania.

Good luck to you all!

Keep in mind...

To everyone who is getting interest on their return checks...

keep in mind that you have to pay taxes on it next year. Just the interest... not the $8000. Just be sure you pay the interest on it since the IRS will know you received it and will be looking for it. If you don't pay it then they might audit you!

1st time homebuyer tax credit

i amended my 2009 tax return on 5-5-10.i purchased a home 4-27-10.i mailed a copy of the amended return with a copy of my hud-1 sheet on 5-10-10.i got my check back for $8,072.00 which included $72.00 in interest on 7-19-10.so for everything i've heard bad about the process,here's a glimmer of hope for the rest of you.

Bought home in dec 09. I'm

Bought home in dec 09. I'm disabled, wife breaks ankle in Jan, out of work until june...so...have been waiting and NEEDING this tax credit since early march, when it was mailed. Recieved our regular refund in april, the 1st-time homebuyers was sent in paper and still not recieved. Early july got a request from IRS for tons of forms unrelated to the tax credit. I call IRS, am told by a really nice gentleman that whomever was working on our homebuyers must have been confused and thought it was our regular tax papers. WHAT? The form is quite different, and any comp check will show we recieved our return already. We are just barely hanging on here financially, I sent in the paperwork requested ( as suggested by the rep) and also , in large letters, an explanation that this was a homebuyers rebate(also as suggested). No response a month later...truly saddened by the entire episode.

Faster than I thought

I like to thank some of you for sharing your story. If I hadn't came up to this website before I sent in my admentment, things would've probably be different. Anyways I closed on May 2010, and sent in about 3 weeks later because I wanted to send a copy of my first utility bill. I also included copy of my DL, and a letter stating I used to live here and there for the last 2 years, and well as having HR Block admending my taxes. I got my money 2 weeks ago, Direct Deposited!!! What a pleasant surprise. Thank you IRS.

20 weeks...finally recieved the check

We filed in late February and just received our check on 7/26. 20 weeks and many many calls and letters back and forth. We had to send the same paperwork several times....received letters stating we were denied then called up and they said we were not. We had to send in countless info that we had actually bought the house including 4 mortgage statements, DL, motor vehicle registration, HUD 1 (SEVERAL TIMES), bank statements etc. I encourage people to call in and ask questions and talk to people....it seemed each time we did this something happened and the process moved along. I think that often times the info we got over the phone was more timely than the letters we received. It seemed that the letters were always old info....maybe it takes time to print and mail them ???? In some ways i am glad they are being careful not to give this away to people who don't qualify or are trying to defraud the govt...BUT they need to be honest to people about how long it takes to get this $$$$ !!!!!

I encourage people NOT to go out and spend the money until they actually have the check. Chances are you will have to provide additional paperwork and in my case....we were even actually denied at first and had to re-send paperwork. I'm glad to finally have the money (with a small amount of interest)...hang in there everyone. If you are legit and just keep sending them the papers they want....you will eventually get your money.

FINALLY!

Another update. I bought my place in October '09, I filed the next day. I got it confirmed that my check should be sent out July 30th!!, WITH $400 in INTREST!!! Yay!! Now I can get my car fixed!!!!!

Hold on, it WILL come!!!!

As for the people who think the people are complaining over nothing, KARMA is a bigger bitch than I'll ever be.

UPDATE

I GOT IT!!! W/ $414 worth of interest.

And those of you warning us about the tax on the interest, it sucks because it is THEIR fault it took so long, but I don't mind paying taxes on the interest since I would have to anyways.

I AM SO EXCITED. It took almost 11 months to get the money, but I paid off some of my bills, FINALLY GOT MY CAR FIXED, have some money saved, and now can breathe a little easier.

HOLD IN THERE... it MAY take a long time, but hopefully it WILL come!!!!

GOOD LUCK TO ALL OF YOU, even those being rude to the people complaining because they were jerked around. I have no hate for you, I am sure karma will teach you a lesson and you can UNDERSTAND why some of us were getting upset. All I'm hoping for is UNDERSTANDING, nothing more.

Praise God!!

We mailed in our paperwork May 25, 2010. Before I sent it in I called IRS and spoke to a VERY nice and helpful man who went over what documents to send in and told me to allow 12-16 weeks. I have been checking the IRS website every week to see if anything was posted bec I hadn't received letters saying they needed this or that. Last Tuesday (July 20) I called IRS back (just to see if I needed to send anything else in) and they said your check will be mailed on Friday July 23rd so allow 2 weeks to get it. Yesterday (Monday July 26) our check was in the mail!!! I am very grateful for this HUGE blessing and cant wait to find some furniture now =)!!

Phone # of IRS

Can I have the phone # IRS, regarding the $8,000 tax credit. Thank you

phone number

1-800-829-0582 ex 362. This is the only number I know to get ahold of anyone regarding this.

Told check is being mail Friday!!

Filed the amended return 6/15/2010..called 7/27/2010 and told the check is being mail on 7/30/2010...Hoping to receive it soon!! Keep the faith guys!!

Finally Received our Credit--Tax Advocate Huge Help!

I wanted to share my story because I know how frustrating it can be waiting. We received ours finally ONE YEAR after we applied for it.

Filed an amended 2008 return at the end of July 2009. Waited about 5 months & called because I knew how backed up everything was. Was told that "everything looked good" & was in processing & should receive a letter in about 2 weeks, if not call back.

Waited 2 weeks & called back. Was told I should be receiving a letter requesting more information. If I do not receive a letter to call back in 2 weeks.

Waited 2 weeks called back. This IRS employee finally actually looked I think & realized they were sending everything to the wrong address ( the address on our initial return filed in 2008, not the address on the amended--their mistake). So, I was told to wait a month & someone would either call or send me a letter by then.

Waited a month no call or letter. Called again & this time was told to send everything back in & highlight the mailing & physical address. I said but don't you already have that information there? And, they said yes, but just send the same stuff back in & highlight the addresses this time?! And, I asked the wait time if I did this? And, she said at least 4 months!?

At this point I was very disgusted because I didn't want to wait another year & it had already been 11 months since we applied for it. I called the tax advocate service & they agreed with me & assigned me a case#. My advocate had 5 days to contact me & she actually did! She reviewed everything with me & asked I send in pay stubs, mortgage statement, bank statement proving paid mortgages--all to show proof of address-- I had one week to mail her that information & she would ask the IRS to review my case again. She had 4 weeks to contact me again with more information. She did--this time sent us a letter saying we were approved. And, then a couple days later called & said what our check date was. And, then 2 days after our check date we received our refund with interest!!!!! Although you have to pay taxes on the interest when tax season rolls around!

So like I said it took us exactly one year after filing for it. But, if it wouldn't of been for the tax advocate service I don't know what would have happened! I am very grateful for their help & efficiency! So if you are frustrated & have waited more than 5 months & are getting NO WHERE with the IRS calls then I suggest calling them to help! Goodluck!!

still waiting waiting and waiting

I bought my house in December 2009 and filed the tax return in Feb 2010. Then wait wait and wait. At the end of June I recieved a letter from IRS Examiner Department said need more information from me then I sent those right after I recieved the letter. And now still waiting waiting, every time I call the IRS they just say my account is still under reviewing... sucks

SAME THING IS HAPPENING TO

SAME THING IS HAPPENING TO ME!

Got the check today

I closed on my house 4/23/2010. We mailed our amended 2009 return 2 weeks later. I call @ 7.5 weeks to make sure they had it. They said to wait 4 more weeks and call again. I didn't want to wait so we called 2 weeks later and they said our return had been adjusted and our check was scheduled to mail 7/23/2010. It was in my mail box today. I did all the forms myself and they were within the 8-12 weeks that they say it takes.

Amazing

I turned in my tax return the first week of February. I turned in for the $6500 repeat homebuyer credit and submitted the HUD-1 statement and the 5 years worth of 1098's to verify that I owned my previous home for the last 5 years. 3 months later I received a notice that said that my homebuyer credit was declined because I wasn't a first time homebuyer. I guess all I can do is laugh about it now, when I called to get them to look at it again, they told me to resend all of the same paperwork and they would look at it sometime in the next 16 weeks. After reading the posts on this site, I decided to get an advocate involved, as that appeared to speed the process up. I called the advocate on 5/25. She had me fax my paperwork to her and she promised an answer by 6/25. On 6/25 she called and said that she just faxed my paperwork to the IRS and should have an answer by 7/15. On 7/16 I received a letter saying that she needed more time, as the IRS hasn't responded yet. She now needs until 8/16, my guess is I will receive another BS letter at that time requesting another 4 weeks or so again. It appears to me that it will end up taking the 16 weeks either with or without an advocate. Amazing service, that is about all I can say.

I commented on June 28th headed with"I'm not whining I only want

Here's an update from my last post...
okay so I sent in additional faxed info to them on June 24th.
I called them July 8th to confirm they got the additional info. They did and told me a letter was sent out already and I should get it.
I got letter July 12th. It stated I would hear from them in 30 days. I did not hear from them of course so I called for the status on July 26th. I was told by the rep who was very nice (lucky me) that the whole 12-16 weeks starts over from the day of the faxed info was recieved, which was June 24th. So now we wait another 3-4 months again. So by the time we should recieve it will be about 7-8 months since they first recieved my amended return back on March 9th closed on home Feb 17th 2010. So October 24th-Nov 24th is our time frame for a check. The good thing is it is processing and as far as she said, that is a good thing because that means they do not need any additional info.
It's tough but what the heck I've waited this long. I will update if I get a status change or recieve my refund credit.
Good Luck to you all!!!!

I filed my ammendment return

I filed my ammendment return back in April of 2010.I received a letter statting additional information is needed sometime in early May.Resent the information into the Irs.I called on July 15 and they toldme that my case has been processed and closed.They also hav a chck scheduled to mailed to me on the 30th of July for the total of $8000 and $90.32 in interest.Boy I cant wait.

Still Waiting

It's me again.Earlier in July I was told by an agent that my refund in theamount of $8090.32 were scheduled to maile out to me on July 30.But guess what.I waited and still did not receive anything.The time frame is two,thre days maybe,unless there is a delay or holiday or something.I called the irs yesterday and a rep told me that my refund is scheduled to mailed on Aug 6.I asked him why did they change the date.He told me that someone gave me inaccurate information.Yeah RiGhT!!!That sucks.So there is nothing that I can do but just wait and see what happens.I will keep every one posted.GOODLUCK

So, have you received your

So, have you received your check yet? I called yesterday and they told me they would mail it out this Friday. I'm hoping that I get it next week. Kids cost a lot of money to put into school. =)

So, have you received your

So, have you received your check yet? I called yesterday and they told me they would mail it out this Friday. I'm hoping that I get it next week. Kids cost a lot of money to put into school. =)

it's a damn joke!!!!!!!!!!!!!!!!!!!!!!!!!

this whole friggin system is a joke!!! it's been 6 months and we are still getting the run around. telling me it's been sent for review....REALLY??!!!! took you months and months of asking for the same crap documents over and over and NOW IT'S FOR A REVIEW!!!!! i'm just wanting what is ours! you tell us that this credit is there and then it takes FOREVER TO GET ANYTHING!!! MAYBE THE GOVERNMENT SHOULD OF TOLD PEOPLE THIS TO START WITH. congrats to those who got there money in 2 weeks, but it took us 5 months to get the regular refund part of our return and here we are another month later and still no information except WAITING LONGER to find out about the tax credit. FRUSTRATED DOESN'T EVEN BEGIN TO COVER THIS MESS!!!!!

CAN I GET THE CREDIT AFTER 3 YEARS?

We did buy a house in jul 2007, but I just realized that we never did anything to get the tax credit for the new house is our first house, can we still get the credit after 3 years? if yes, how can we do that??
THANKS!!

9 Months and Denied

Well folks, here is another reason to not ammend a past return. I ammended my 2008 return and it was received all the way back on December 10, 2009. I thought if I got it in before the new tax year they wouldn't have so much to get done and I would get it quick- WRONG. So I waited until March 25 2010 when I got a letter saying they needed proof that they never asked for in the first place. I sent the information back immediately and started calling to get a status update after 12 weeks passed. I called today, in the middle of my 17th week (since I sent in additional information) to learn that my credit was DENIED. They are sending me a letter explaining why, and what to do if I want to dispute this, which I will be doing. The reason I was told is that in the year I ammended(2008) I was considered a dependent and I was not able to get the credit because of this. Sensational. Now I will have to ammend 2009 taxes, wait another 9 months, and hopefully hear something then. I will keep you all informed, but don't hold your breath waiting for my next post. It took the IRS 9 months to deny me, what can they do for you?

Tax Credit after 3 yrs

No, sorry, you can not get the tax credit for a house bought in 2007. The tax credit started in April 8, 2008. April 8, 2008 - Jan 2009 you get $7,500 but need to repay it over a 15 year period, it acts as a interest free loan. After Jan 2009 you get an actual $8,000 - $6,500 tax refund credit, where you get the full amount and do not need to pay anything back.

Numerous people have tried to claim the tax credit out side of the time period permitted and it has sparked the IRS to start doing more thorough investigations around purchase date. This has caused the process to be slow for people trying to get their tax credit money.

http://www.irs.gov/newsroom/article/0,,id=186831,00.html

2007 Amendment

"We did buy a house in jul 2007, but I just realized that we never did anything to get the tax credit for the new house is our first house, can we still get the credit after 3 years? if yes, how can we do that??
THANKS!!"

You can apply for a refund for up to three years. Since your 2007 return was due by April 15th 2008 I believe you can file 1040x for 2007 and apply for the refund. (The IRS should also pay interest.)

WOW

SENT IN JULY 1st
PROCESSED JULY 7th
(CHECK IS TO BE MAILED OUT JULY 30TH)
HORrAYYY!!!
I WILL KEEP YOU POSTED

how did you find out when it

how did you find out when it was recieved and when it is to be mailed?

We got our check yesterday

For those still waiting there is hope. We got our $6500 plus 58.67 interest check yesterday from the IRS. We had filed in Feb. 2010 to then get a letter in May asking to re-file with additional information needed and now on July 22nd we get the check. I was beginning to doubt I would ever get it and I think most of my friends who knew nothing about the credit thought we were making all this wait and worry up. And yes I did have plans for the money and had to wait on it to continue a rennovation for the previous home we own to enable us to sell it. There is HOPE hang in there!

Where is my money

Closed on April 30, 2010

Received May 17th. Its processing. processing, processing . Now all of a sudden 9 and half weeks its being reviewed. There is an questionable item. WHAT IS IT????? I have a funny hunch that its because its a townhouse thats considered a condo and it has a Unit number on the loan documents,

All the Irs can tell me is wait on a letter if they have questions. WTF???

Had a small hassle at first..then got good news!

We closed on a foreclosure on May 20th, 2010. I sent the 1040x, 5405, copy of HUD1, and my contract with Fannie Mae(as instructed) on closing day. Waited 3 weeks, got impatient and called the IRS number, only to learn that they were sending all my documents back to me, no explanation. A week later I received the package, still no explanation, just a check mark on a form saying I was "disallowed" the credit.

So I call the IRS hotline and get a person who asks me a million questions about my life. And basically he came up with the solution that the person who worked on the file just didn't want to read through the lengthy contract from buying the foreclosure. He told me to only send 1 or 2 pages from the contract, highlight everything important(closing date, purchase price, address, our names). And also to attach a letter stating that we weren't instructed on why the package was sent back. I also noted that they sent my documents to my old address so hopefully they will send the check to the new address.

So, I gave it 3 weeks after sending my amendment back in this time on June 29, and I received the amazing news that much check is scheduled to be mailed on July 30. I hope there are no more hiccups. But I decided to share this story, to let some of you know that if you basically do their job for them by highlighting what they should be looking for on their own, it might turn out better. I also sent in my electric bill and first mortgage statement the second time, just so I would feel like I had done something differently.. because the sad truth is, I did it perfectly the first time. Someone just wanted to be lazy, and it costed me a month.

Update on my situation.

We did receive the check on August 3. It was mailed to my current address, and everything turned out fine, finally. We even got $57 in interest, for our troubles I suppose. I'd have preferred to just receive the $8000 the first time I sent in the paperwork though!

Oh crap, I sent mine in the

Oh crap, I sent mine in the middle of june. I sent in everything I possibly could, including MY ENTIRE 60 page Contract. I guess i'm gonna get screwed. I just hope the person I get isn't to lazy to glance through it. Thanks for the heads up.

Almost 10 Months and still no 8,000

My wife amended our taxes in November, 2009. We bought our house last summer. We could have waited to file it with our 2009 taxes, but we were told that if we did an amended return we'd receive our $8,000 sooner. Every time we call, we're told that it'll be here in approximately 4 weeks. We've been told this over and over since January. I know people who filed it on their 2009 taxes and have received their money a long time ago. It's almost 10 months coming and I'm starting to wonder if we're really getting this money. Any one know the interest that will accrue?

after 1 year and 1 month i

after 1 year and 1 month i finally recieved the tax credit + 342 in interest. A week later i recieved a letter from the IRS stating that they did an audit and want 8400 from me!! After sending them ecery piece of information that i have and waiting over a year - finally having everything allowed with interest - now they are wanting to reverse their decision! can they do that??

Do not Qualify and it sucks

I think it is wrong that we dont qualify because we bought a house from grandparents.. We still took out loan and borrowed the money just dont think it is fair did this happen to anyone else......

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