First Time Homebuyer Credit Update
Monday, March 28, 2011
The IRS has provided information on www.irs.gov about processing
issues that are impacting a small percentage of tax returns
involving repayment of the First Time Homebuyer Credit (FTHB),
primarily involving 2008 home purchases. While most of these
returns are processing normally, the IRS recognizes the hardship
caused by delayed refunds, and it has assigned additional
staff and resources to address the issues promptly.
If you claimed a home purchased in 2010, you not affected.
The IRS says 2010 returns and are being processed, as are "the vast
majority of other homebuyer returns."
Details are at: http://www.irs.gov/newsroom/article/0,,id=237695,00.html.
Additional information will be posted on the IRS site as it
becomes available.
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