Tax Credit Extension For Service Members

Yes, yes, yes…we all now know that in order to qualify for the home buyer tax credit, the buyer must be in a purchase contract  by April 30th and that the transaction must close by June 30, 2010. After all, just about every Realtor has been shouting it from the rooftops of their listings!

BUT…did you also know that these dates are extended one full year for qualified service members who are ordered on a period of official extended duty. Just when you thought the party was over!

Also, a qualified service person who is forced to return to the U.S. for medical reasons before completing an assignment of at least 90 days of qualified official extended duty outside of the United States may qualify for the one-year extension.

A “Qualified service member” is defined as a member of the uniformed services of the U.S military, a member of the Foreign Service of the U.S., or an employee of the intelligence community.

“Official extended duty” is defined as any period of extended duty outside of the United States for at least 90 days during the period beginning after December 31, 2008 and ending before May 1, 2010.

Check with your professional CPA to verify if you or a member of your family qualify for this extension.

 All my best~ Kevin


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