I think Memorial Day weekend is a great time to announce that the U.S. government home buyer tax refund has been extended through 2011 for qualifying members of the United States military. If anyone deserves an $8,000 tax credit, it's definitely these brave men and women who put their lives on the line to fight for our freedom.
To qualify, military personnel must have served at least 90 days (official extended duty) outside of the United States between December 31, 2008 and May 1, 2010. "Qualifying service members" eligible for the tax credit include members of the military, members of the Foreign Service of the U.S., and members of the intelligence departments.
A person who is forced to return to the U.S. prior to 90 days of service due to medical reasons also qualifies. To qualify for this extended military tax credit, an executed contract must be in place by April 30, 2011 and the transaction must close by June 30, 2011.
To honor the service men and women, t2 Real Estate is offering an additional $1,000 closing cost credit so please tell your family members and friends in the military. And please remember what Memorial Day is really about.