The Federal Tax Credits Blog

Question: When will the IRS process my return if I file late or file an extension?

I’m buying a house (first time homebuyer) and will not be able to close on it until just after the April deadline for filing taxes. I have heard that the IRS will not process amendments to returns until after June. Is this true? Does the same rule or similar apply if i file an extension or file late without an extension? I’m trying to figure out the best way to go about filing my taxes so that I can get my refund earlier. I’ll be getting about a $1,000 refund plus the $8000 fhb tax credit and need the money asap. Any info and links are greatly appreciated.

Answer: Since you are already getting a refund just wait until you close and file late. You don’t even need to file an extension application (Form 4868) though you can if you wish. There are no penalties for late filing if you are due a refund.

Amended returns take a back seat in the processing queue during tax season and for the next few months. Normally you’ll receive your refund more quickly if you include the credit with your original return as opposed to filing an amended return later. Original returns claiming the credit are running 8 to 10 weeks processing time while amended returns are running 12 to 16 weeks or longer.

Local News

SALEM — With the half percent income tax on the ballot, some council members wanted to show residents what the city plans to do with the money.

Rep Courtney speaks on behalf of FTHB Tax Credit and Unemployment Insurance Extension

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