Re-paying the FTHB Credit

[Possi]

So, this year we begin re-paying the FTHB Credit.

One client did not have a letter from the IRS.

One client had a letter from the IRS.

Is there a phone number we can call, or a website we can check, to see whether or not a payment is indeed due?

[Burke]

Well, the tax return for that year would tell you.

[rgtaxservice]

Is there a phone number we can call, or a website we can check, to see whether or not a payment is indeed due?

Yes. Call the client and ask to see their 2008 tax return. If the credit was claimed for a 2008 purchase, the recapture is required.

[rgtaxservice]

...

Don't rely on the letter.

I had a client claim a 2009 purchase on the 2008 return. No recapture required. A few months back the IRS sent a repayment letter. It's incorrect but it goes to show that you cannot rely on the CP03A..

[Possi]

Got it

Thanks, y'all! =)