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Tax Credit Open To Military

For qualified members of the military, foreign service and intelligence communities, the home buyer tax credit remains available. The extended time for the credit applies to both the $8,000 tax credit for first-time home buyers and the $6,500 tax credit for repeat home buyers.

Those who qualify have until April 30, 2011, to sign a contract and must close by June 30, 2011.

To qualify, personnel from the three groups must have been on what is called “a period of official extended duty” that took them outside of the country for at least 90 days between December 31, 2008 and ending before May 1, 2010.

For more information, go to www.federalhousingtaxcredit.com. Click on “service members” in the first paragraph of the material on the site.

For everyone else, the tax credit expired April 30, 2010, with closing required by the end of June.

Posted by Joe Jenkins @ 5:13 PM on 07/02/2010
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