Did you know that special rules for the homebuyer tax credit apply for members of the military, the Foreign Service, and the intelligence community making the 2010 HOME BUYER TAX CREDIT AVAILABLE UNTIL APRIL 30, 2011? 

Due to unique circumstances affecting members of the military, the foreign service and the intelligence community, Congress has made the following exceptions to the existing tax credit for both the $8,000 tax credit for first-time home buyers and the $6,500 tax credit for repeat home buyers.

Extension of Tax Credit Deadlines

• The homebuyer tax credit is available for qualified purchases with a home contract in by April 30, 2010 and home closing by June 30, 2010.
• However, for qualified service members who are ordered on an extended period of official duty, these deadlines are extended for one year. For qualified military members, the tax credit applies to sales with a home contract in place by April 30, 2011 and closed by June 30, 2011.

Definitions

• “Qualified service member” means a member of the uniformed services of the U.S military, a member of the Foreign Service of the U.S., or an employee of the intelligence community.
• “Official extended duty” means any period of extended duty outside of the United States for at least 90 days during the period beginning after December 31, 2008 and ending before May 1, 2010.

 For additional information on new homes available in Colorado Springs close to Peterson Air Force Base, Schriever Air Force Base, the United States Air Force Academy or Fort Carson visit CampbellHome.com.  For additional information on the current tax credit for qualified military home buyers Donni Feldman at Peoples Mortgage or  The National Association of Home Builders.