If you are currently serving in the military or if you are a veteran, member of the Foreign Service or an employee of the intelligence community, your service has earned you a one-year federal homebuyer tax credit extension.
Military service personnel now have through June 2011 to buy a principal residence in the U.S. and claim the federal tax credit. The deadline for entering a binding contract is April 30, 2011; the deadline to close a purchase is June 30, 2011.
The extension 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. All other home buyers must be under contract by April 30, 2010 and close by June 30, 2010 to qualify for the federal tax credit.
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