PETITION - 7500.00 TAX CREDIT- NOT TO BE REPAID TO IRS

11,312 Letters Sent So Far

If you were a first time homebuyer and bought a house between April 2008 and December 31, 2008, you were entitled to receive a $7,500 tax credit that MUST BE REPAID over a period of 15 years.

If you were a first time homebuyer bought a house on January 1, 2009 through Dec. 31, 2009 you were eligible for an $8,000 tax credit that DOES NOT HAVE TO BE REPAID.

This is NOT FAIR. We need to get congress to eliminate the requirement that the 2008 tax credit must be repaid.

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This has been an issue that I've been angry about for a long time. Every year since 2010, I am paying $500 at tax time to satisfy the repayment terms on this $7,500 "interest-free loan." Yet, people who purchased a house a few months after I did, walked free with an $8,000 gift. Totally ridiculous. This really needs to be fixed. I have been in my home for 8 years now and still owe over $4,000 on this. If I were to sell, a sizeable portion of any realized profit would go to repay this "credit." Laughable!
Not fair only 2008 has to repay and 2009 up doesn't!
I think it was inherently unfair to the people in 2008. I was pushed to buy in 2008 vs 2009 by lender. I understand this was submitted and added to another bill to doom it.
Very unfair. We bought a home in 09/2008. Took the $7500 FTHBC, Lost our home and additional monies over the Market Crash that followed and the Bank bailouts. Now we are having to get a Tax Atty because the IRS is holding our 2015 RETURN MONEY Hostage over a letter they set us regarding this matter that we responded to with our Prepare at H & R block and we cannot find the letter, or will they send us a one as my husband requested!
Extremely unfair!