And people wonder why we shouldn't trust the government ...

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BadgeBunny

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I certainly hope this doesn't apply to any of you guys ...

Nearly 1 Million Homebuyers Must Pay Back Tax Credit

Nearly 1 million homebuyers must pay back tax credit

Those who purchased their home in 2008 yet claimed the credit in 2009 only qualified for a no-interest loan. In the past two years, the homebuyer tax credit has helped persuade millions of families to take the plunge and buy a home. Too bad about half of those who claimed the credit in 2009 are going to have to pay it back.

The Inspector General for Tax Administration (pdf) reports that of the 1.8 million taxpayers who claimed the tax credit in 2009, more than 950,000 of them will have to pay back their share of the $12.5 million doled out that calendar year.
 

308shooter

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Thanks for posting that. If its a loan then First off tell me its a loan not a ''Tax credit'' Or a stimulus as some people said and then when you say a loan I will simply say no. You cant trick people into getting a stimulus and then saying its a damn loan. Second when mr obumber said it was a ''stimulus'' not a loan ''YOU CANT GO BACK ON YOUR WORDS'' Once you realize your out of money and you need to trick REAL AMERICANS out of their hard earned money.
 

BadgeBunny

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I very much agree with you ... If I had known when I was your age what I know now I would have only taken jobs that paid cash under the table, never had a checking account or credit card and paid cash for every damn thing I own.

Oh, well ... all I can hope for now is that Stone will take pity on me and let me move to the side of the mountain with him when GC retires. At least that way the federal agents will decide I am too much trouble to come hunt for.
 

kroberts2131

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Actually this is old news. My wife and I were planning on buying a house in 08 but were told you had to repay it back at 500 per year until its paid off. Once that one expired and they started it back up thats when they actually "gave it away" Still sucks for those who weren't told about it up front. I'm nervous still. Who knows if they will try to change it for everyone somehow.
 

BadgeBunny

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I had seen several articles on how the .gov was screwing car dealerships out of the cash for clunkers money, but this was the first one I had seen on the homebuyer's tax credit.

I can hardly wait until the healthcare debacle kicks in ... :(
 

TheSanDiegoKid

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It applys to me, I have to pay back $500 a year out of my taxes. Nobody told us until we were doing our taxes and hr block explained that it has to be paid back. I was kinda like um, why are they giving me money that I have to pay back, when I never asked for it? I don't remember applying for a government loan, either give me the money straight up or don't at all.
 

Shadowrider

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Oh good God! We pay for African countries to learn how to wash after sex. But our own citizens (read taxpayers) have to pay their stimulus back? How about those African countries paying that 800K+ back!

How in the hell these people look at themselves in the mirror every morning is beyond me!

:finger: politicians!
 

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