I might owe the IRS close to $10k, not qualified for first time home buyers credit?
The money is gone, since my dad passed away that yr and I am still a single mom of 3 with one income coming in, and there is no way to pay the IRS back like how they would want me to. What can I do or ask about, when it comes to reversing it, waived.. etc?? The credit was $7,500 and a penalty of $1,500 plus $900 interest. If it was a simple mistake, I wont blame anyone but myself, and would pay back the $7,500 little by little, but the penalty fee and interest is a bit too much, and It was really just an honest mistake. Plus they didn't audit me until 3 years later..
I'm in so much stress right now, and very discouraged, please can somebody give me hope? Ive never had to owe the IRS and have always paid my taxes and due a refund.
I'm waiting for an IRS advocate to call me back, and I have a form 843 on my desk.. Im not sure what to do or who to speak to. Please somebody give me some light inside this dark tunnel!! Thank you!