Members of the military and certain other federal employees serving outside the U.S. have an extra year to buy a principal residence in the U.S. and qualify for the credit. Thus, an eligible taxpayer must buy, or enter into a binding contract to buy, a principal residence on or before April 30, 2011.

If a binding contract is entered into by that date, the taxpayer has until June 30, 2011, to close on the purchase. Members of the uniformed services, members of the Foreign Service and employees of the intelligence community are eligible for this special rule. It applies to any individual (and, if married, the individual’s spouse) who serves 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.

From IRS: Additionally, there are new benefits for members of the military and certain other federal employees:  For all the details go to http://www.irs.gov/

This information is brought to you by TEAM DECELL.  We are proud supporters of the men and women of the military.  If you have any questions regarding if this extension applies to you call us at 214-975-3210.  TEAM DECELL is your Frisco Home experts.