New home buyers looking forward to getting the Obama money coming from the Home Buyer Tax Credit they were expecting are about to be in for a big shock if they file their federal tax return electronically.
Our insiders in the Internal Revenue Service (IRS) have informed us that although they knew the Home Buyer Tax Credit included Obama’s Stimulus package was coming, they never bothered to update the electronic returns processing system to account for it. So, Instead of home buyer’s getting their tax refund in 2 weeks as promised, they’ll be waiting much, much longer.
According to our sources, the wait to process these returns will likely be between 6 months to a year.
Why the long delay? That’s the estimated time before the electronic processing system will be updated. Until then, returns being kicked out by the system because of the Home Buyer Tax Credit are being put to the side in a pile to sit and wait.
Meanwhile, another blunder for Obama and the Democrats’ pork laden stimulus package was uncovered this week by ABC News as it was revealed that 8 out of 10 stimulus dollars set aside for so-called green jobs are actually going overseas to create foreign jobs.