What else is she going to do

[chrisstansberry]

well if that is the case then they can go after H&R Block not me

 

[Ohiogal]

well if that is the case then they can go after H&R Block not me

WRONG. YOU are responsible for your taxes. While H&R Block may provide backup the IRS will hold you responsible for the fraud. Ignorance is NOT an excuse.

 

[chrisstansberry]

I guess I will just wait

 

[LdiJ]

I guess I will just wait

You don't understand...that is SERIOUS tax fraud. If you amend your return and take only the credit that you are entitled to take, based on the value of the home, and pay back the excess refund by April 15th, there won't be any penalties.

However, if the IRS catches you, the penalties would be severe.

I cannot believe that H&R Block did that. The ramifications for them are severe. That preparer could go to jail for that.

 

[CJane]

When I was reading through that on H&R Block online, I thought it said that you could take the credit if you were going to buy the house before July (?) of '09. Did I hallucinate that?

 

[LdiJ]

When I was reading through that on H&R Block online, I thought it said that you could take the credit if you were going to buy the house before July (?) of '09. Did I hallucinate that?

Not exactly. Before Obama's economic stimulous plan changed the credit if you purchased a home before July, of 09 you could go back and amend your 2008 return to get immediate benefit of the tax credit, rather than waiting until you could file an 09 return.

You can still do that, but now (for houses purchased in 2009) its an 8000.00 credit and you have to buy before 12/1/09.

You cannot take the credit in anticipation of buying a house. You have to have actually done so.

This guy is in potentially a huge amount of trouble.

 

[chrisstansberry]

I have given it to another CPA and let him know of the sitation so maybe it can be fixed and keep me out of trouble. Thank god I did not spend any of it yet.

 

[LdiJ]

I have given it to another CPA and let him know of the sitation so maybe it can be fixed and keep me out of trouble. Thank god I did not spend any of it yet.

You stated that you used it to put a down payment on a mobile home. How is that not spending it?

In any case, if you have not spent all of it and you are getting professional help you can definitely get yourself out of trouble if you get it handled before April 15th. Taxwise everything is a "do over" if you get it handled before April 15th. You can commit the worst tax fraud on the face of the earth, but still get a "do over" if you fix it by April 15th.