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I'm getting a little worked up! Still waiting for my first time home buyers tax credit...

I will get it, right? We got our federal and state refund back on Feb. 8th. The person who did our taxes told us we qualified for this tax refund as we make under 150K and are first time home buyers. We weren't even going to buy a house this year but didn't want to pass up the 8k as we have never gotten a handout before and felt we should take advantage of this one. We really need this money!! We will get it, right? They can't change their minds or anything, can they?

 
Anonymous

Asked by Anonymous at 9:21 AM on Apr. 16, 2010 in Politics & Current Events

This question is closed.
Answers (7)
  • There have been articles about this all over the msm. They had a lot of people apply for this credit and are auditing a lot of them. You may want to call the IRS and ask them about it.
    mommy_lisa25

    Answer by mommy_lisa25 at 1:30 PM on Apr. 16, 2010

  • I don't know much about the tax credit, but my first thought is call your tax preparer. They should be able to answer your question.
    LokisMama

    Answer by LokisMama at 9:24 AM on Apr. 16, 2010

  • It's not in you federal refund? that is how the adoption tax credit worked? we got it with our refund nothing extra for the "credit"? But they may work differently though I guess.

    And with the adoption tax credit we DID NOT get all of it back just some over the course of the next 5 years. BUMMER!!!! WE didn't make enough to get it all back :(

    Oh well! Like I said though they may not work the same way?!?!?
    Anonymous

    Answer by Anonymous at 9:57 AM on Apr. 16, 2010

  • Should have been with your refund if it isn't they probably rejected the credit. I would look over your return and make sure it was done correctly. If a proper HUD settlement statement was not sent in it would be rejected. My neighbors had H&R block do their return and they tried to efile it then when they finally figured out you couldn't they mailed it without the HUD settlement statement. So I would not assume your tax preparer did the return correctly. I would check the return and make sure all documents were sent if not you can amend the return with the proper documents and in about 8-12 weeks you will get your credit. They are really scrutinizing any tax return or amended return with the Homebuyers Credit since there was so much fraud when it was first put in place.

    momtolucas2002

    Answer by momtolucas2002 at 10:44 AM on Apr. 16, 2010

  • If you closed on your house after you filed your taxes, then you have to file an amendment, the hud statement, and your contract. Double check with the person who did your taxes to make sure (s)he filed the paperwork.
    kitkabob

    Answer by kitkabob at 10:59 AM on Apr. 16, 2010

  • If you bought your house in 2010 to recieve that credit, it will go on your 2010 taxes - you'll "see" the money NEXT year when you file 2010's taxes.
    Anonymous

    Answer by Anonymous at 12:11 PM on Apr. 16, 2010

  • anon :11 That credit was extended until April 30. You have to close on the house before that date to be able to take the credit on your 2009 tax filing.
    Anonymous

    Answer by Anonymous at 12:24 PM on Apr. 16, 2010

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