Long Wait for First Time Buyer Tax Credit Funds

by Alex Stenback on December 10, 2009

There is apprently quite the processing backlog over at the IRS for first time buyers who have filed for but not received their $8,000 first time buyer tax credit.

Kara McGuire at the Strib has the scoop

Like many first-time buyers, the McIlherans didn’t have extra cash available after purchasing their home. What they thought would be an eight-week wait for the tax refund turned into 20 weeks.

Also:

Due to the delays and the time of year, taxpayers who wait and claim the credit when they e-file their 2009 returns could very well see their $8,000 sooner than taxpayers who amend their 2008 taxes.

And: Senator Amy (!) KlobucharĀ isĀ on the case:

She sent a letter to the IRS on Monday inquiring about the long waits and what’s being done to get Minnesotans their cash. “The full and immediate economic impact of the tax credit is lost when it takes up to four months for people to get the money due to them … such lengthy delays are unacceptable and erode the public’s trust in the competence of the government,”

First Time Buyers Holler: “Show me the money!” [Kara McGuire]

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