Washington Post columnist Benny L. Kass today wrote about a special extension of the first-time homebuyers's tax credit that applies to servicemembers and their spouses. You guys have an extra year to take advantage of the credit that expired for civilians in 2010.
According to the Internal Revenue Service website, you qualify to claim the tax credit if you were on active military duty outside the United States for at least 90 days between December 31, 2008 and May 1, 2010. You have to be at least 18, make less than $125,000 a year, and the house you buy has to cost less than $800,000. Sounds pretty reasonable, huh? Kass writes:
If you feel like you need help doing your taxes (and frankly, who doesn't?) a program called VITA (Volunteer Income Tax Assistance) is there to lend you a hand. There are roughly 100 VITA centers all over the globe, staffed with IRS agents who will do your taxes for free. Click here for more info.
