PHILADELPHIA (CBS) – Taxpayers here and around the country are finding their returns delayed because of an IRS computer problem.
If you bought a house in 2008 and claimed the first-time homebuyer tax credit you must now start repaying the $8,000 credit but the IRS is having a problem processing some of the claims.
Anna Sachs, a Bryn Mawr certified public accountant, says several groups are affected.
“Married filing joint taxpayers who received this credit, also taxpayers who received the credit and may have sold the home they have to recapture the credit and also those that may be attempting to pay back more than the required amount,” Sachs said.
IRS officials are working to update their computer software to handle the problem. In the meantime, they’re manually processing returns which is causing a delay.
Reported by Lynne Adkins, KYW Newsradio