No efile this year :(

[ILLMAS]

I don't if any has posted this but no efile for first time home buyers if they are claiming the credit, must paper file and submit copy of HUD statement/closing contract.

Mas

[elfling]

I was disappointed to read that yesterday, too. But I can see gov'ts point. There seems to be a large amount of fraud going on with that program. With the 5405 alone there was no quick way to verify that a home was even bought. Any schmoe could send it in.

I am wondering how much IRS may frown on efiling the 1040 et al, waiting a few weeks for that refund, and following up with 1040X, 5405, & documents. No way to know if there would be any speed to the credit $ being processed but at least tp would already have regular refund quickly.

Elfling

[JRS]

Here are the "gruesome" details.

"The IRS also reminded homebuyers that the new documentation requirements mean that taxpayers claiming the credit cannot file electronically and must file paper returns. Taxpayers can still use IRS Free File to prepare their returns, but the returns must be printed out and sent to the IRS, along with all required documentation."

"The IRS has stepped up compliance checks involving the homebuyer credit, and it encouraged homebuyers claiming this part of the credit to avoid refund delays by attaching documentation covering the five-consecutive-year period:

1. Form 1098, Mortgage Interest Statement, or substitute mortgage interest statements,

2. Property tax records or

3. Homeowner’s insurance records."

[Lloyd Hudson]

I do not know the current status of amended returns, but the middle of December they were 22 weeks behind. Just received confirmation on one from May that was submitted with settlement statement attached.