E-file reject - taxpayer needs to payback First Time Homebuyer credit. Been trying to call IRS (with my POA) to find out how much the payback is but cannot get through to talk with anyone. I'm guessing the payback is $250. Since I can't get through to the IRS what action can I take to resolve the issue?
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E-file Reject - First Time Home Buyer Payback
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Originally posted by Hoosier View PostE-file reject - taxpayer needs to payback First Time Homebuyer credit. Been trying to call IRS (with my POA) to find out how much the payback is but cannot get through to talk with anyone. I'm guessing the payback is $250. Since I can't get through to the IRS what action can I take to resolve the issue?
When they got the credit were they filing MFJ? If yes the repayment is $500. See form 5405 and instructions.Taxes after all are the dues that we pay for the privileges of membership in an organized society. - FDR
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For the F1040-428-001 and F1040-429-001 reject codes the expected repayment amount is included in the reject information in the Data Value.
There is also a lookup tool on the IRS website. http://www.irs.gov/Individuals/First...ccount-Look-up
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Originally posted by Hoosier View PostE-file reject - taxpayer needs to payback First Time Homebuyer credit. Been trying to call IRS (with my POA) to find out how much the payback is but cannot get through to talk with anyone. I'm guessing the payback is $250. Since I can't get through to the IRS what action can I take to resolve the issue?
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