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Nik211
my little monkey<3
Member since 5/08 3303 total posts
Name:
Nik
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First Time Home Buyer Tax Credit Disallowance
Did this happen to anyone?
The IRS is stupid and they think we had a house before we bought our home - it's b/c of a previous loan we had taken out on land...They sent us a letter saying they disallowed the tax credit and if we disagree to send back a letter with an explanation and proof. We spoke to someone at the IRS and we went over everything with them but they said we had to send the letter.
So I wrote a detailed letter saying how the IRS is mistaken, I gave them all the loan documents stating it's for vacant land, I gave them links to the county's appraiser's site which states the address and how it's a land lot blah blah blah..for godsakes they can just google map it and see it's just grass 
So we were waiting and waiting and called the IRS 1x a week to follow up. We got a letter in the mail from them this weekend saying they need another 45 days to review 
I am SO aggravated. It's their mistake yet we are waiting all this time 
Did this happen to anyone else? Can we ask for interest? Since they are making us wait and wait....I am so annoyed!
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Posted 6/21/10 12:28 PM  |
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Prudential Douglas Elliman Real Estate
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HeatherRose
Life is Good :)
Member since 11/07 6605 total posts
Name:
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Re: First Time Home Buyer Tax Credit Disallowance
its so typical of the IRS to do things like this. and there was SOOOO much fraud associated with the credit so they are being really careful now.
with a letter and proof, you should get it fixed, but it will probably take some time.
As for interest, its highly unlikely as the refund is subject to review, with the provided info they require, and not guaranteed by a certain date. But its worth a shot to ask for.
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| Posted 6/21/10 12:32 PM |
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Cheeks24
Living a dream
Member since 1/08 8589 total posts
Name:
Cheeks
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Re: First Time Home Buyer Tax Credit Disallowance
Unfortunately there have been many people scamming the IRS for this credit so others are not getting it or being delayed in getting it. It sucks you have to wait so long to get it. Just be thankful you are getting it and you won't have to pay it back!
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| Posted 6/21/10 12:38 PM |
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debsabourin13
LIF Toddler
Member since 4/10 465 total posts
Name:
Debra
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Re: First Time Home Buyer Tax Credit Disallowance
I was one of the those that actually got the $7500 tax credit (that I have to pay back) before this $8k credit was approved - I had SOOOOOO many problems with the IRS and this...where I was getting letters saying "we reviewed your information and you are fine" and then 2 weeks later I would get a letter saying "You never sent us what we asked for so we have taken the money back and it is due immediately plus interest, and fees, etc, etc."
I was so aggravated. It is just another example and illustration of how poorly government agencies communicate and interact with each other. Apparently one department is in charge of sending out the letters and another department is in charge of doing the research and making the decisions and they NEVER communicate with them. Calling them 3 times never resolved anything because the departments who actually take care of these things are not directly reachable and you only talk to the equivalent of the IRS secretary with no authority whatsoever...waste of time!
What I am TRYING to say in this long-winded rant is...YES I know EXACTLY how you feel
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| Posted 6/21/10 1:21 PM |
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ave1024
I Took The Wrong Road
Member since 12/07 6153 total posts
Name:
That Led To The Wrong Tendencies
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Re: First Time Home Buyer Tax Credit Disallowance
It is possible that the purchase of land will disqualify you from the credit.
In a lot of ways, you are considered a "homeowner" by purchasing land. You are getting all the tax breaks that you would get buying a house. Because of this, that may disqualify you.
Did you call the IRS and tell them that this was a land purchase? What did they say?
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| Posted 6/21/10 1:56 PM |
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Nik211
my little monkey<3
Member since 5/08 3303 total posts
Name:
Nik
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Re: First Time Home Buyer Tax Credit Disallowance
Posted by ave1024
It is possible that the purchase of land will disqualify you from the credit.
In a lot of ways, you are considered a "homeowner" by purchasing land. You are getting all the tax breaks that you would get buying a house. Because of this, that may disqualify you.
Did you call the IRS and tell them that this was a land purchase? What did they say?
We spoke with multiple people at the IRS before we bought the house to make sure we'd still qualify - all of them said we would.
Land can be bought as an investment, buying land doesn't mean you automatically have the intention of improving it (with a house/store front/etc).
Houseboats or a property that you bought but never occupied (say you rent it for income) would disqualify you -but not vacant land.
Even when we called after we received the letter disallowing it they said we were fine, we'd just have to send the proof that there is no home on the site. It's just annoying that they are dragging their feet on this! The amount of information I gave them was ridiculous - and it's annoying bc everything they want is PUBLIC KNOWLEDGE and they could find themselves!!! Which is why I'm really annoyed!
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| Posted 6/21/10 2:10 PM |
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