While many buyers are disappointed with the tax credit deadline and failure to extend, there is one exception according to the IRS. Any Federal employee or member of military who served outside of the United States for 90+ days between December 2008 and May 2010 will be granted a one year extension to the home buyer credit.
According to the IRS:
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. Thus, an eligible taxpayer must buy, or enter into a binding contract to buy, a principal residence on or before 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. Members of the uniformed services, members of the Foreign Service and employees of the intelligence community are eligible for this special rule. It applies to any individual (and, if married, the individual’s spouse) who serves on qualified official extended duty service outside of the United States for at least 90 days during the period beginning after Dec. 31, 2008, and ending before May 1, 2010
Don’t let the tax credit get away, contact a Realtor today to get started!
Tags: Buying a home in Georgia, buying a house in ga, home buyer tax credit extended, Military home purchase, Real Estate purchase
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