How can you avoid IRS refund delays in receiving your first time homebuyer tax credit?

Now that the Government has extended the time to close for first time homebuyers who were under contract by April 30 until September 20, 2010, the IRS is offering suggestions on how you can avoid refund delays.

The IRS says to attach a copy of the pages from the signed contract showing all parties' names and signatures if required by local law, the property address, the purchase price, and the date of the contract. If you do not have a copy you should contact your real estate agent, title company or attorney involved with your transaction to obtain one.

You will also need to complete IRS form 5405 and include a HUD-1, Settlement Statement with dates, names, signatures (if required by law), purchase price and address. Mobile home buyers and those who purchased new construction who do not have a HUD-1, Settlement Statement are offered other options listed on the IRS explanation page.

The information contained in this post is from an IRS update IR-2010-80, July 2, 2010. If you have questions or concerns about the forms or documentation needed to receive your refund, you should speak with a professional tax preparer or contact the IRS directly.