Extension of First Time Home Buyer Tax Credit–for some

Many first time home buyers have just 18 more days to participate in the $8,000 federal tax credit program.

But there’s a one year extension of the program for some members of the military and certain other federal employees. Service people qualify if they are:

• members of the uniformed services, Foreign Service and members of the intelligence community. They are eligible for this one year extension if they serve 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.
• spouses qualify if the service member is married

For this special extension, military members must have their signed, binding contract to purchase their new home by April 30, 2011 and close on the property by June 30, 2011. The rest of first time home buyers must have a signed, binding contract for their new home by April 30th and close on the sale by June 30th, 2010.

Learn more details at the IRS website.