With the recent talk of raising the first-time homebuyer credit, one important question is still open: why are the current checks taking so long to go through? No one expects the tax credit to be instantaneous, and of course the IRS will need to validate each claim. But reports of delayed tax credits are pouring in — and when the tax credit is a key part of financing a new home, this has people nervous.
- One online commenter complained of a 12-week wait for the check, which hadn’t arrived yet.
- Other commenters are asking when the check will arrive — the answers indicate that it takes ten to twelve weeks, but there’s lots of confusion nonetheless.
- Other estimates for how long the credit takes imply a wait of 12-16 weeks.
- Some people are even less lucky. One of them had to wait fourteen weeks — to find out that he needed to send the IRS more information.
Some people are in no mood to wait for the check. Several states have found a way around this: HUD is starting to lend people money backed by the tax credits, for certain mortgages. And several states have taken matters into their own hands: here is a list of states that lend new homeowners money to tide them over until the tax credit arrives. For many new home buyers, this can be a good way to stay afloat, but in most cases, it’s best not to rely on that tax credit as the only way to close a new home purchase.
Did anyone use direct deposit when amending their return? We closed on our house in late may but didn’t amend our return until early September.
I’ve closed on my house may 28th and the irs said they recieved my paper work june 11th i called a few weeks ago and they said they would be sending it the 1st of october and i would get it in the mail the middle of october my boyfriend was gettin anxious and made me call today october 2nd and they said now they need more information and will try and have someone contact me within the next 30th days this is getting ANNOYING!
I know how everyone feels i purchased my first home on March 2, it is now October 1, and STILL no check . I had H&R block file my amended return. The irs did send me a letter saying they needed a copy of the settlement statement too. I sent that in a month ago, so i called today and guess what ITS STILL NOT PROCESSED!!!!!!! The lady i spoke with said it could be another 4 to 6 weeks to hear anything!!!!!!!! This is a crock!!!!!!!!!! Im really pi**ed off!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
I’ve been waiting for four months and just lask week received a letter from the IRS asking for more documentation. I spoke with someone today and she indicated it could take many more months for them to send my credit.
I am currently in my 12th week of waiting for the first time home buyer credit check (purchased a home in June 2009). After calling the IRS twice over a span of 4 weeks I was told it was in process and I should be receiving the check within the next week or so. Then to my surprise one week later, I received an envelope from the IRS wanting further support on the purchase with paperwork saying that once the support is received by the IRS it could take another 4-6 weeks to get the check processed. I have found it frustrating that the information which was requested could have be easily accessed on a county auditor website verifying the purchase which would have taken 5 minutes. After what happened with cash for clunkers it makes me wonder if this is a way to spread out the checks being issued. It definitely makes me nervous for the government and this promise of the tax credit when I know the stack of first-time home buyers tax credit forms are piling up on the IRS’ desks.