Tax Credit Extension for Veterans - Happy Memorial Day!

In honor of Memorial day, let’s discuss the tax credit extension for veterans.

An extension of the homebuyer's tax credit is available for service men and women until April 30, 2011. Active veterans serving on official, extended-duty service outside of the United States for a minimum of 90 days during the period between December 1, 2008 and May 1, 2010 will be granted a 1-year extension on the home buyer tax credit. Service people who meet this requirement by serving more than 90 days overseas between the aforementioned dates will qualify for the same home buyer tax if they are in contract to purchase by April 30, 2011 and complete the transaction by June 30 of next year. Veterans who are currently considering buying a new home will be excited to hear they have an extra year to buy and still qualify for the tax credit.

Members of “uniformed” services, foreign services of the United States, employees of Intelligence Community and extended duty service men and women will qualify.