Though the tax credit ended on April 30th for most buyers active duty military, foreign service or members of the intelligence community who have been stationed outside the US still have the option to claim the credit.
For service members who are on a period of official extended duty, these dates are extended for one year. For these homebuyers, the tax credit applies to sales with a binding sales contract in place on or before April 30, 2011 and closed by June 30, 2011.
A person who is forced to return to the U.S. for medical reasons before completing an assignment of at least 90 days of qualified official extended duty outside of the United States may qualify for the one-year extension.
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.
If you recently returned stateside and thought you missed the tax credit then you may be in luck. Always check with your tax professional to determine your qualifications for the extended tax credit. You may find that you haven’t missed your chance at a little extra assistance after all.
For more information on changes to tax laws specific to military families check out the IRS website.