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Moderator Emeritus
Posts: 5,267
Registered: ‎03-18-2008
0

Re: The IRS mailed our $8,000 check today!


prioritybubble wrote:

DKJay,

 

I'm confused.   I thought per the http://federalhousingtaxcredit.com/2009/glance.php   the refund was only 10% of the purchase price.  Did you really get the $8,000 check?  Am I missing something with this tax credit law? 


$8000 is less than 10% of $127,500.

Established Contributor
Posts: 729
Registered: ‎10-21-2007
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Re: The IRS mailed our $8,000 check today!

Dude, when will you get it?? you just have to purchase a HOME valued AT or ABOVE 80,000 to qualify for 10% of the price which equals $8000 (do this on your calculator: 0.10 x 80,000)
Regular Contributor
Posts: 177
Registered: ‎04-28-2008
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Re: The IRS mailed our $8,000 check today!

Actually it's 10% UP TO $8,000. If you buy a house more than $80,000 that's great, but you still only get $8,000.

03/2009 - TU: 679 EQ: 670 EX: 670
7/2 - TU: 666 EX: 668 EQ: 673

"If at first you don't succeed...skydiving isn't for you."
Established Member
Posts: 39
Registered: ‎07-21-2009
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Re: The IRS mailed our $8,000 check today!

Ah. I feel stupid.  I better stick with my day job!  Math was never my best field.  lol.  Sorry.  Now I get it.  Looks like they are going to extend the $8,000 credit for next year so that is good news for everyone. Hopefully they raise it to $15,000.  Thanks all.
Established Member
Posts: 53
Registered: ‎03-29-2009
0

Re: The IRS mailed our $8,000 check today!

We got our check yesterday. It took three days to get here (Pennsylvania) from Texas.
Member
Posts: 8
Registered: ‎02-29-2008
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Re: The IRS mailed our $8,000 check today!

Got mine today...closed on June 8, didn't mail it out til June 10th...so I guess it fell right in the 8-12 week timeframe. I have to say that I was starting to sweat a little reading the many stories of individuals who closed on homes way back in March or April and still had not received a check. The IRS also gave me $96 in interest.
Bought my 1st home while in the 600's...look out 700's I'm a mission to knock your door down!
New Member
Posts: 2
Registered: ‎03-19-2009
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Re: The IRS mailed our $8,000 check today!

so if you haven't bought a house yet and you about to and know that you can qualify for the 8,000 credit, can you claim it before buying the house?

 

Established Contributor
Posts: 602
Registered: ‎02-06-2009
0

Re: The IRS mailed our $8,000 check today!

Only people that have actually purchased are eligible, not people that are qualified to purchase.
Established Member
Posts: 20
Registered: ‎03-10-2009
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Re: The IRS mailed our $8,000 check today!

lol Claim it before buying the house. That would be nice.
Valued Contributor
Posts: 1,080
Registered: ‎06-08-2008
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Re: The IRS mailed our $8,000 check today!

I HIGHLY recommend anyone filing for this credit now, to just wait and file with your returns. It is such a big MESS! We are one that mailed ours May 7th, received by them May11th...and all we get is...ummmmm, call back in a week! We are over the 16 week time.

 

I think it will be less complicated if it is all filed together. It also said on a site I was on that an amended return ALWAYS takes longer.

 

Good luck.


Kathy


We are finally homeowners!!

Closed May 5th-30 yr fixed at 5.25%.

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