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Programming Issue with Small Proportion of First Time Homebuyer Credit Claims

March 18, 2011

The IRS is having programming issue delaying the processing of a small percentage of returns for taxpayers who must repay the First Time Homebuyer Credit. The issue affects taxpayers reporting a sale or disposition of the home that qualified for the credit, which in most cases means taxpayers must repay the credit. The delay also affects some taxpayers who bought a home in 2008 making a repayment higher than the required annual amount (typically $500).


From → Clergy Tax Law

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