Nov. 11--Federal legislation extending the popular homebuyers tax credit has something extra for members of the armed forces serving overseas -- more time.
Under the bill, signed into law by President Obama on Friday, the income-tax credit of up to $8,000 for first-time homebuyers was extended from its former deadline of Nov. 30. The new law says homebuyers will be eligible for the tax credit if they sign a binding sales agreement before May 1, and close on the purchase before July 1, 2010.
But for members of the military on active duty outside the United States for at least 90 days -- between Jan. 1, 2009 and April 30, 2010 -- the tax break will remain in effect for an additional year. Read more...
Vets get more time for home tax credit - Economic Development - Builder Magazine
Posts
