Very few are aware that $8,000 tax credit for first-time home buyers (and the $6,500 tax credit for repeat home buyers), although expired for most, is still available to some active duty military personnel. Military service members who were on official extended duty outside of the United States for at least 90 days between Jan.1, 2009 and May 1, 2010, may qualify for a one-year extension.
Congress has acknowledged the unique circumstances affecting members of the military, the foreign service and the intelligence community by making the following exceptions that apply to both the $8,000 tax credit for first-time home buyers and the $6,500 tax credit for repeat home buyers.“Qualified service member” means 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” means 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.
So the bottom line, qualified service members have until April 20, 2011 to take advantage of the tax credit. Our deep respect for our military family compels us to publicize this little known fact and to ask all of you to pass the word to your military family and friends wherever they may be....whether shopping for modular homes in Tidewater Virginia or in Timbuktu Alaska (if such a place exists). Call us for more details. If this message results in a single military family getting educated and ultimately saving money on their new home purchase, then we will be most grateful and humbly celebrate.