First time home buyer tax credit...

Anyone actually received their money yet? Its been almost a month since I sent in mine and haven't seen it yet.. I tried searching around about it but it seems like all the info is from people amending their 2008 return to get it early.

 

You'd get it in your return, no? Since its a tax credit you put it on your tax return.

Are you saying since you are claiming that credit your return is taking longer than normal?

 

Anywhere from 3-6 months. It's not like a regular tax refund. There was a lot of fraud going on last year with the Home buyers credit, which has slowed the whole process down right now.

 

Wow that blows! It would be nice if they would at least give me the money I normally get back but I guess I understand there is probably a lot of fraud on this whole thing. I had seen where some people got them in a month but others it took forever but I don't see exactly why some take longer than others. I sent mine in ASAP just because I figured they would get flooded pretty quick after everyone got their w-2s.

 

Mine was included in my regular tax return. Just sent it off the other day, should have it back in a few weeks.

 

We closed on our house in August 09, ammended our 2008 return shortly after, and got a check for $8k plus interest in November 09.

I was amazed at the lack of documentation that was required. The IRS didn't even require a HUD statement!

I wasn't surprised when I started hearing about people claiming the credit that obviously didn't qualify. Dead people, 5 year olds, second homes, etc.

At least require some paperwork, even if you don't check it. That would weed out some of the fraud. (I think they're requiring more now but didn't verify it since I got my refund already).

Good luck

 

We just filed for the 2nd-home credit and were told 6 months. Lots of attempted fraud initially, so there's more checks going on (and more paperwork to submit), which is taking longer.

 

damn that sucks i just put mine in the mail today.... by the way they do require the HUD papers with it now.

 

i got mine on top of my normal return, direct deposited into my account, 12 days after filing.

my tax guy did all my paperwork, but i did have to provide HUD docs.

 

I did my taxes last April....closed on my house April 30th and amended them the next day. I got my check June 13th.

You can go on the IRS website and check on the status.

https://sa2.www4.irs.gov/irfof/lang/en/irfofgetstatus.jsp

If there is no info given you can call their 1800 #.

 

Good info-mine didn't come up in there so I guess I will try again next week.

 

It was about the same time frame for me as well. Last year if you ammended your taxes (2008 taxes)it could take 8-12 weeks after they received the amendment to issue your Tax credit. I closed on my house on March 12th last year and didn't get my return until early June.

 

My info is finally coming up on the IRS site and it says I will have the money by April 6th so it looks like it's taking 2 months-not bad!

 

any updates on how long its has actually been taking people?

 

I finally got my money a few weeks ago-took about 6 weeks total.

 

Just mailing mine off today......I figure I'll get a refund around August.

 

I have lived in the same house my whole life. My parents moved out around 4 years ago. I took over the bills.
Heard about the tax credit and thought might as well buy it.
So.....last march i started remodeling. finished up aroung end of july. Closed on house August 5th. I have a mortgage now just like everybody else. I have a loan for 30 years just like most people. i pay property taxes like most people.
went and filed in feb. They said i could not get credit because i bought it from family
maybe i should have checked into, but i was wanting the house anyways
i was seriously pissed off

 

My younger sister just bought her first home and waited to file her income taxes until after it closed
she got her regular return and her first time homebuyer credit at the same time around a month after it was sent off

 

Mine is finally showing up on the site. Mailed mine off on April 5th and it's saying I should get a refund around May 25th. So that's what....~7 weeks.

Not as bad as I thought considering how late I mailed it.

 

If you can prove you paid market value for the home and it was an "arm's length transaction" you should still be able to get that credit. Now if you paid $1 for it and then just got a mortgage to take out equity, that's a different story.