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11-09-2009, 11:32 AM
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New Homebuyers Tax Credit
Hi Everyone!
I've heard that there are ways to get the $8,000 New Homebuyers Tax credit this year. If I close on my house on December 1st, is there anything I can do to get the money before April? Also, what is everyones experience with the Credit? Did you get yours in a timley manner? Thanks! Chris 
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11-09-2009, 11:41 AM
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I closed Aug. 7th and still waiting on the credit...
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11-09-2009, 05:52 PM
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red92, The original deadline was Nov. 30(before Dec. 1), but congress just decide to extended and expand the tax credit. First-Time Homebuyer Credit
To answer the question, you can amend your 2008 tax return adding form 5405, which might get it to you sooner. But currently you can only do this if you close before Dec. 1., because the IRS hasn't update the forms yet. Considering that the irs says to expect 8-12 weeks for processing an amended return, I would just file my taxes in February and get the refund in under 2 weeks. also I would change my withholding for December such that the IRS isn't taking anything out of my paycheck.(get some immediately and the bulk by the end of February)
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11-09-2009, 07:14 PM
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Yep, it's possible to get it early but it's at the point where you might as well wait to get it via your regular tax filing. It's a great time to buy if you plan on staying in the house for a while. Good luck to you!
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