AHS Offers Information about Tax Credit for Americans who Served Overseas
Deadline Extended For First-Time Homebuyer Tax Credit
Americans who have recently served their country abroad are getting a break from Uncle Sam.
Members of the military and certain other federal employees who served overseas between December 31, 2008 and May 1, 2010 have another year to take advantage of the tax credit for first-time homebuyers. The deadline for all other homebuyers was April 30.
Eligible taxpayers who are in the armed forces or who are members of the foreign service or intelligence community can earn homebuyer tax credits if they enter into a binding contract to buy a principle residence before April 30, 2011 and close on that contract by June 30, 2011.
“It’s wonderful to see those who are serving our country have an extended opportunity to earn this tax credit,” said spokesperson Nicole Ritchie of American Home Shield, one of the nation’s leading providers of home service plans. “Many deserving home buyers would likely have missed out on the tax credit without this extension.”
The tax credit 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.
First-time homebuyers who meet certain income qualifications can earn tax credits of up to $8,000. Long-time homeowners also are eligible for tax credits of up to $6,500 if they are replacing a principal residence they have owned for any five-consecutive-year period during the preceding eight years.
“In today’s economy, everyone’s looking for ways to manage their money more carefully,” said Ritchie. “We can help by reminding people about this valuable tax credit opportunity and by providing home service plans that can help protect a homeowner’s budget against unexpected repair costs.”
You can read about the tax credit at the AHS website devoted to first-time homebuyers, located at www.firsthomeexperience.com. Simply click the icon marked “recovery.gov” to find out if you qualify and how to obtain the credit. The website helps explain how home service plans can help protect your investment from unexpected repair costs on covered home systems and appliances. The site also offers valuable resources such as money-saving coupons and other information that can benefit all homeowners, regardless of whether they are first-time buyers.
About American Home Shield
American Home Shield helped found the home warranty industry in 1971 and remains an industry leader, servicing 1.3 million customers across 49 states. The Memphis-based company operates three customer service centers, employs over 1,800 employees and over 11,000 approved, independently insured service contractors nationwide. AHS customers have total accessibility to request service 24 hours a day, seven days a week. American Home Shield is part of the ServiceMaster family of brands, one of the world’s largest and most versatile service networks. The company’s brands include TruGreen, TruGreen LandCare, Terminix, American Home Shield, ServiceMaster Clean, Merry Maids, Furniture Medic, and AmeriSpec.