topic Re: amended tax return for homebuyer credit... in Mortgage Loans

amended tax return for homebuyer credit...

Anonymous — Mon, 01 Jun 2009 17:13:43 GMT

Okay, I'm about to send off my form 5405 and amended tax return to claim my home purchase on my 2008 taxes. I'm looking for anyone who has filed this - do I only send in the 1040X, and 5405 or do I need to include anything else like a copy of the home note or my original 2008 taxes? Help!

Re: amended tax return for homebuyer credit...

Anonymous — Mon, 01 Jun 2009 17:58:20 GMT

8k homebuyer tax credit is for 2009 I thought?? Are you applying for the old credit that is actually a loan that has to be repaid?

Re: amended tax return for homebuyer credit...

Anonymous — Mon, 01 Jun 2009 20:33:13 GMT

@Anonymous wrote:
8k homebuyer tax credit is for 2009 I thought?? Are you applying for the old credit that is actually a loan that has to be repaid?

The 8K credit can be claimed retroactively for 2008 if the house is bought this year - it's part of the stimulus package and was written that way.

I believe the OP is correct, all they need to do is file the 1040X and the 5405, however, I'm not a CPA, so you might want to make a quick phone call to H&R Block or someone similar.

Re: amended tax return for homebuyer credit...

Anonymous — Tue, 02 Jun 2009 13:21:50 GMT

I sent mine off as soon as the form became available. All I sent was the 1040X and the 5405. I didn't think to send my HUD statement. I just received my check last Wednesday. It took 11 weeks for me to get it.

Hope that helps.

Re: amended tax return for homebuyer credit...

Anonymous — Tue, 02 Jun 2009 14:12:16 GMT

Thank you noonie! I'm gonna send it off today!

Re: amended tax return for homebuyer credit...

Anonymous — Tue, 02 Jun 2009 14:44:53 GMT

FYI

I mailed mine on 4/24 and on 5/27 I called just to verify it was received and the person told me no and that while it takes 8-12 weeks to process it should have atleast been logged in as received. So of course I sent another copy this time by certified mail. Yet the one that was lost and never received is being worked on.

Re: amended tax return for homebuyer credit...

Anonymous — Tue, 02 Jun 2009 15:18:42 GMT

Oh boy - then I'll definitely send it certified - thanks!

Re: amended tax return for homebuyer credit...

Anonymous — Wed, 01 Jul 2009 16:01:30 GMT

Hi Noonie, did you send your amended return certified? I unfortunately did not send mine certified. I sent it about 9 weeks ago and called the IRS yesterday. They still have no record of receiving it. They told me to wait another week or so and call back. I do not want to send it again only to have them find my original one and have the process start all over! Any information you could provide me with would be very helpful. Thank you.

Re: amended tax return for homebuyer credit...

Anonymous — Wed, 01 Jul 2009 16:16:15 GMT

I would definitely wait a week or two to send another one. I just talked to a man at the IRS yesterday about our 08 tax bill and I asked him if our 1040X had been received. He said they do not log them in the system until right before they issue a check and that they are so backed up because folks are getting impatient and are sending in two or three amended returns to make sure they are received. This is bogging their system down causing these huge delays. He told me not to call and check on the status until 10 weeks out. I really don't get why they aren't logging in that they are at least received but I do understand their logic about not wanting folks to send in the same paper work over and over again. Hope that helps! It stinks that these checks are taking so long - we're living without a substantial part of our home furnished in anticipation of that check!

Re: amended tax return for homebuyer credit...

Anonymous — Wed, 01 Jul 2009 16:30:58 GMT

@Anonymous wrote:
I would definitely wait a week or two to send another one. I just talked to a man at the IRS yesterday about our 08 tax bill and I asked him if our 1040X had been received. He said they do not log them in the system until right before they issue a check and that they are so backed up because folks are getting impatient and are sending in two or three amended returns to make sure they are received. This is bogging their system down causing these huge delays. He told me not to call and check on the status until 10 weeks out. I really don't get why they aren't logging in that they are at least received but I do understand their logic about not wanting folks to send in the same paper work over and over again. Hope that helps! It stinks that these checks are taking so long - we're living without a substantial part of our home furnished in anticipation of that check!

Maybe if they trained all their employees right and the same way they wouldn't be bogged down with multiple returns. I asked 4 different people the same question at 4 different times not days but weeks and got 4 different answers. I was told by the irs man I spoke to to send in another copy and resign it since it should have been logged into their system by then yet your guy is telling you to wait 10 weeks before calling. I did receive my check Monday for a total of 8 weeks between them getting it and me getting the check though the biggest pita is the constant mis information given

Re: amended tax return for homebuyer credit...

Anonymous — Thu, 02 Jul 2009 00:51:44 GMT

Thank you both for your help. I was also given several different answers by different people at the IRS. I was told people were getting impatient and sending in their forms before they even close on their house!! This is definitely delaying everyone else's check. I guess I will try to be patient and I will hopefully be getting a check very soon! Thanks again.

Re: amended tax return for homebuyer credit...

WannaHouse — Thu, 02 Jul 2009 17:28:31 GMT

We called last Thursday and were told they had no record of it. (sent off May 7th). Today, they have it in their system and it is processing.

Be careful about jumping the gun.

Re: amended tax return for homebuyer credit...

Anonymous — Thu, 02 Jul 2009 18:55:56 GMT

If you filed last year and requested direct deposit will they do the same when you send in the ammendement?

Re: amended tax return for homebuyer credit...

Anonymous — Thu, 02 Jul 2009 23:20:02 GMT

My understanding is that all refunds from amended returns will be issued via check.

We mailed our amended return on 6/11. I called yesterday and was told that processing was completed on 6/24 and we should receive the check within 2 - 3 weeks of that date. I'll update this post when it's received.

Re: amended tax return for homebuyer credit...

eddymvp — Sat, 04 Jul 2009 17:37:21 GMT

I mailed mine on June 1st and I'm concerned about the address that I sent it. I mailed mine to:

Department Of Treasury

Internal Revenue Service Center

Andover, Ma 05501

This doesn't seem like a real address and that was the address I received from Turbo tax. its been about 5 weeks since I sent it and I don't know if I should call them to verify if they have received it.

Re: amended tax return for homebuyer credit...

Anonymous — Sat, 04 Jul 2009 18:08:35 GMT

I mailed my return to a similar address in Atlanta. Your home state determines which location to mail to. Here's a link: Where to file tax returns.

Re: amended tax return for homebuyer credit...

SilverBerries — Mon, 06 Jul 2009 17:10:10 GMT

They received my amended return on June 4th, according to the certified time stamp. How are you checking on your return? Are you using the 1-800 number on the IRS.gov site? If so, what amount do you use for the return amount, just the $8000 or the entire 2008 return amount including what you may have already gotten back? I'm not sure of the process to use to check the status of my amended return.

Thanks,

SilverBerries

Re: amended tax return for homebuyer credit...

Anonymous — Mon, 06 Jul 2009 20:49:58 GMT

I bought my home on 5-15-09. I amended my return and called the IRS to make sure that I didn't need any additional forms or proof of purchase. A rep stated that all I needed to mail is two forms: the 1040 X and the 5405. The forms were super easy to complete! To find where to mail your amended return, click here: http://www.irs.gov/file/article/0,,id=109750,00.html. I mailed my forms on 5-19.

The IRS website states that you can't view the status of a refund on an amended return online; you have to call to get the status. On 6-24, I called the IRS at 800-829-0582 and pressed X462. After being on hold for about 20 minutes, a rep said that my return was received on 5-26. I called again on 7-6 and, after being on hold for about 20 minutes, a rep stated that a check was mailed on 7-3. It appears that the IRS will only issue a paper check on this credit/refund.

Message Edited by jinjerly on 07-06-2009 01:49 PM

Re: amended tax return for homebuyer credit...

Anonymous — Mon, 06 Jul 2009 21:59:22 GMT

I called again this morning to check the status of mine, which will be exactly 10 weeks since I mailed it off. They STILL have no record of it. Not sure of what to do now. I will give it a couple more weeks until it hits the 12 week deadline and probably resend it if they still have no record of it. I am in Arizona so I am hoping they are just extra busy here and will get to it in the next week or so. We will see if that is the case...

Re: amended tax return for homebuyer credit...

Anonymous — Mon, 06 Jul 2009 22:47:25 GMT

How are they verifying closing/purchases? Do they contact local gov't, state gov't?? I'm just curious if it is these agencies that are adding additonal processing time as well to the IRS time.

Thanks