With the recent talk of raising the first-time homebuyer credit, one important question is still open: why are the current checks taking so long to go through? No one expects the tax credit to be instantaneous, and of course the IRS will need to validate each claim. But reports of delayed tax credits are pouring in — and when the tax credit is a key part of financing a new home, this has people nervous.
- One online commenter complained of a 12-week wait for the check, which hadn’t arrived yet.
- Other commenters are asking when the check will arrive — the answers indicate that it takes ten to twelve weeks, but there’s lots of confusion nonetheless.
- Other estimates for how long the credit takes imply a wait of 12-16 weeks.
- Some people are even less lucky. One of them had to wait fourteen weeks — to find out that he needed to send the IRS more information.
Some people are in no mood to wait for the check. Several states have found a way around this: HUD is starting to lend people money backed by the tax credits, for certain mortgages. And several states have taken matters into their own hands: here is a list of states that lend new homeowners money to tide them over until the tax credit arrives. For many new home buyers, this can be a good way to stay afloat, but in most cases, it’s best not to rely on that tax credit as the only way to close a new home purchase.
Has anyone received a CP21B stating they had their account credited and should be receiving their check within two weeks if they haven’t already?
I spoke to a rep earlier this week and he said that they had received my paperwork (HUD1, Recorded Deed, 5405, and 1040X), but didn’t have any info regarding time line other than the 16 weeks. He also stated that there were no letter to go out. So you can imagine my surprise when 3-4 days later I get this letter (which is dated Dec. 21st and I got it out of the mailbox on the Dec. 19th).
I checked my status on where’s my refund and called the number specified on the letter and they both state that, “There is a delay in processing your tax return. For more information, please continue.” I am guessing I have to call and sit on hold again to see if they need anything else.
I read on a couple of other sites that they may request proof that we live here and proof of identity. I did send some back up tax return info from the original return including SSN’s of everyone in the household.
I’ve been waiting 5 months so far. Two months ago my file went to the audit pile. They told me then it could be an additional 4 months before I ever get the letter requesting the HUD form copies.
Me and my husband have been waiting 21 weeks an haven’t heard anything. NO letter. NO phone call. In fact noone even returns your phone call. When you do actually get to talk to someone they tell you to wait and receive a letter in 30 days…Never seen one. We called back they told us to write a claim in and wait 7 days to assign someone to your case. We called back and after they told us to fax some information they pretend they never spoke with you and want you to repeat the step. RIDICULOUS!!
How can this be legal? Word is going to get around and guess what …ppl are going to think twice about buying a home, and then the market is going to plummet again!
Yep, I hear all of you and am in the same boat. I filed almost five months ago and called yet my ninetith call it feels like and they said opps…. we have not even signed your case over yet to an agent so it won’t help if you sent us the information. And the only way I even knew they needed more information is that I called but never received a letter. I have called and called and called for months and I get different answers every time. I am now in default of my loan because I unfortunatly lost my job but when you contact a tax advocate even they take weeks to get back to you. Thanks local government….. I understand the need to verify the information but you can’t find a way to streamline this system better to make it quicker? Come On! Riduculas is putting it mildly…..
OMG….i thought we were the only ones going through this. My boyfriend and I are on our 20th week and haven’t received anything yet not even a letter requesting more information. After reading everyone’s comments it seems as if we won’t be getting anything for at least 2 – 3 more months. We bought new furniture assuming we would be getting the check within 8 – 12 weeks, but to wait 20 weeks and to keep getting the run around saying that we will get either the refund or a letter requesting information is RIDICULOUS! Has anyone got their check yet and is there anything we can do to speed this up? We desperately need to pay off these credit cards.