First time home buyer tax credit of $7500?

I qualified for the tax credit/loan for first time home buyers. H&R block told me I would get it between 8-15 days.

Is this the same thing the news is talking about when they mention the new stimulus plan?

Am I going to get this money, or is it still up for vote in the House or Senate?

2 Answers

Relevance
  • 1 decade ago
    Favorite Answer

    This credit if for real, it passed last year. It is not what is being proposed this year.

    So if you are supposed to receive the credit, there has been no word from the IRS to date that they will be delays in receiving the First Time Home Buyers credit.

    One thing in the new stimulus package being proposed is the repeal of having to repay this credit if you own the home for at least 3 years. Check out the link below.

    Laura H – H&R Block – Senior Tax Advisor 5

    **This advice was prepared based on our understanding of the tax law in effect at the time it was written as it applies to the facts that you provided.

  • Anonymous
    1 decade ago

    It is for this year and the answer above is correct, I hope there are no delays for this credit as I am suppose to get mine next Friday, I called the irs and asked if there were delays associated with claiming this credit and they told me no so I hope not.

Still have questions? Get your answers by asking now.