Reminder: Armed service members have extra year to claim homebuyer tax credit
Reminder: Armed service members have extra year to claim homebuyer
tax credit
While the contract deadline for the homebuyer tax credit for most
Americans has come and gone, please remember, and remind your agents,
that members of the armed services and certain other federal employees
still have time to take advantage of the incentive.
For those that served outside of the U.S. for at least 90 days during
the period beginning after December 31, 2008, and ending before May 1,
2010, the deadline is extended to April 30, 2011. If a binding contract
is entered into by that date, the taxpayer has until June 30, 2011, to
close on the purchase. Both the $8,000 first-time and the $6,500 repeat
homebuyer tax credits are included in the extension.
For more information from the Internal Revenue Service on the extended
deadline for military members,
click here.