I'll be doing that soon when I close in October. Do you actually receive $8000 or is that just a credit? I plan on filing an amended return. That $8k will be handy because I plan on using it to pay off the balance of my car loan! 
Good luck to everyone.
Good luck to everyone.
@Anonymous wrote:
I'll be doing that soon when I close in October. Do you actually receive $8000 or is that just a credit? I plan on filing an amended return. That $8k will be handy because I plan on using it to pay off the balance of my car loan!
It will actually be $8K unless you owe taxes. If that is the case, the back taxes would be held out and you will get the remainder.
We closed Jan 9th, 2009. Filed for the $7500 tax credit Jan 26th (before the changes took effect) and got it in mid Feb in our account. Then we got notice that it went up to $8000 and payback clause eliminated if bouth after Jan 1st 2009. We qualified for $500 more. We did as instructed and sent it in in Mid March 2009. We got the green recetrun recipt back from Fresno, CA and waited. We called them in laste Aprile and they claimed they never got it (not in their system). i argued with them and they said to send another 1040X for the $500. We sent another 1040X to them in early May 2009 and still have not received our money. I called and they said that they see it as recieved in June (huh?) but there is no more info on it yet. I asked her if I owed the IRS money, could I tell them that I simply had "no information" or lost my "W2" so they would have to wait to get their money with no penalties or extra taxes. She laughed and said, "no I guess it only works one way in that sense." I found it funny that I got an IRS agent to laugh, but we really would like our money owed to us by the government. The tax incentive IS a great feeling once you get it. Glad to finally own a home.
i close in October too and thought about just waiting until january to file. but seeing how long it's taking some to receive their $8K, don't think I'll be waiting for anything except keys in my hand! 
@WannaHouse wrote:
@Anonymous wrote:
I'll be doing that soon when I close in October. Do you actually receive $8000 or is that just a credit? I plan on filing an amended return. That $8k will be handy because I plan on using it to pay off the balance of my car loan!It will actually be $8K unless you owe taxes. If that is the case, the back taxes would be held out and you will get the remainder.
Or in my case....I had already paid my taxes and now I get all that money back!
@Anonymous wrote:
i close in October too and thought about just waiting until january to file. but seeing how long it's taking some to receive their $8K, don't think I'll be waiting for anything except keys in my hand!
I THINK if you wait, and file it on your 2010 returns, it would be much easier and also faster. With the amended returns, I assume they have to get your 2008 returns up and make sure all is good, before they will send you SQUAT!
WTG UpUpUp!!