bug13 Posted March 26, 2009 Report Share Posted March 26, 2009 Can the 2008 home buyers tax credit be withheld for debts such as child support arrearages? Link to comment Share on other sites More sharing options...
looksbothways Posted March 27, 2009 Report Share Posted March 27, 2009 I would assume yes, and I would assume it can also be seized for defaulted, federally backed, student loans. Link to comment Share on other sites More sharing options...
bug13 Posted March 27, 2009 Author Report Share Posted March 27, 2009 I would assume yes, and I would assume it can also be seized for defaulted, federally backed, student loans.This is not really a credit though it is a loan from the government that must be paid back. So is it still offset for debt. Link to comment Share on other sites More sharing options...
jq26 Posted March 27, 2009 Report Share Posted March 27, 2009 Yes. It can be withheld for back taxes. It is just an offset. And the 2008 credit was more like a "tax loan" to be paid back at 0% interest over the next few years. The 2009 first time homebuyer credit is a true tax credit. No pay back required if you qualify and stay in the home the required amount of time. Link to comment Share on other sites More sharing options...
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