Homebuyer Tax Credit Extended Until 2011 For Overseas Military

19 04 2010

Good news from the IRS for our veterans:

Members of the military and certain other federal employees serving outside the U.S. have an extra year to buy a principal residence in the U.S. and qualify for the credit.  

Members of the uniformed services, the Foreign Service and employees of the intelligence community are eligible.  It applies to individuals that served on qualified official extended duty service outside of the United States for at least 90 days during from Dec. 31, 2008, to May 1, 2010.

The eligible taxpayer must buy, or go under contract to buy, a principal residence on or before April 30, 2011.  They have until June 30, 2011, to close on the purchase.