Profile picture for lucious clay

If i only paid 2000.00 in withholdings, will i receive the other 6000.00 in my refund ?

this question is in regards to the 8000.00 tax refund for first time home buyers...

 
  • March 15 2010 - Atlanta
  • 0
    0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.

Answers (3)

Profile picture for asugradinwa
The first time home owners refund works like this (assuming you qualify and the home is bought for over $80,000):

You Amend your 2009 income taxes by completing IRS Form 5405  you must also attach a copy of your HUD-1 settlement form (closing statement) to Form 5405 as proof of the completed home purchase.

You send this into the IRS, wait 8-12 weeks and get an $8,000 check.  This has NOTHING to do with your withholding amounts.

http://www.federalhousingtaxcredit.com
  • March 15 2010
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for wetdawgs
If you are qualified for the full $8000, you will receive the appropriate amount back.

  • March 15 2010
  • 1Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Hi Lucious,

I would refer you to a CPA to answer this question. They are licensed professionals and well worth the phone call.
I am happy tp provide you with a list of sevral CPAs that will review your scenario and offer you the proper guidance.
  • March 15 2010
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.