$8000 home buyer tax credit extension for Military and certain federal employees.
Even though the $8000 home buyer tax credit expired on April 30,2010,members of the Armed Forces and certain federal employees serving outside the U.S for official extended duty only which is at least 90 days during the period beginning after December 31, 2008 and ending before May 1, 2010 have an extra year to buy a principal residence in the U.S. and still qualify for the $8000 home buyer tax credit.
An eligible taxpayer must buy or enter into a binding contract to buy a home by April 30, 2011,and settle on the purchase by June 30, 2011. Now what about a person who didn't finish his assignment. Can they still qualify for the $8000 home buyer tax credit? Yes they can. According to the www.federalhousingtaxcredit.com, A 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.
I am sure you are probably thinking why did I write this blog? Was it because yesterday was Memorial Day? That was part of it. But honestly speaking,I remembered a referral that I got about two or three months ago. She is a lady who recently just got back from Iraq about a month ago. While she was there,she called me a couple of times. She also sent me some listings that she was interested in knowing more information about. Some people automatically assume that the $8000 home buyer tax credit deadline on April 30,2010 applied to everybody. But it didn't.
So if you know anyone either the Military or certain federal employee who serviced outside of the U.S for official extended only for at least 90 days during the period beginning after December 31,2008 and ending before May 1,2010 who is talking about buying a house,then they have now an extra 11 months to buy a house and still qualify for the $8000 home buyer tax credit.
And even though we celebrated Memorial Day yesterday,I want to say thank you to everyone who is currently serving,served and gave their life for our country. THANK YOU! THANK YOU! THANK YOU! THANK YOU!
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