Did You Know? Tax credit extended for active duty military
The U.S. military servicemen out of the country for 90 days may have an extra year to buy a home and get the tax credit, up to $8,000. This rule is only for “official
extended duty outside the United States for at least 90 days after 2008
and before May 1, 2010.” The U.S. military has until April 30, 2011, to secure a binding
contract, and until June 30, 2011 to close on the home. Other
conditions such as a maximum $8,000 for first-time buyers and $6,500
for move-up buyers still apply. For more information consult your qualified tax advisor. The
applicable IRS publication is at: http://www.irs.gov/pub/irs-pdf/p3.pdf
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