Cindy, Thanks so much for writing this up!
Via
Cindy Jones-Northern Virginia Real Estate & Military Relocation Services (RE/MAX Allegiance #1 RE/MAX Company in the World):
The US House of Representatives overwhelming voted to extend the first time home buyers credit for an additional 12 months to anyone in the military who has served overseas for three months in 2009. In a vote of 416 to zero the bill now has to go the US Senate and the President for final approval.
This extension could give up to 350,000 military families currently deployed overseas unitl November 2010 to take advantage of the current tax credit. In addition the IRS "recapture" rules will be waived for any service member who is deployed and must sell or rent their home.
Known as the Service Members Home Owners Tax Act this bill also contains the provision to waive the income tax liability currently in the expanded Department of Defense Homeowners Assistance Program.
The next step for this bill (HR 3590) is for the Senate Finance Committee to review the bill and hopefully move it to a vote in the full Senate.
This seems to be one time that the US Congress, Senate and President should be able to agree. Extending the tax credit for our military is the right thing to do no matter what your political beliefs.
About the Author...
Jo began her real estate career back in 1994 and soon found out that she loved selling real estate and that she was really good at it! Lots of people sell real estate, but not everyone is good at it. Jo brings to her clients the commitment to work hard and have fun along the way. As Jo continues to learn the technology of today to be on the cutting edge of multimedia she takes pride in her ability to keep her trademark "old-fashioned" customer service alive. If you are looking to sell or purchase a home in Kitsap County call her office today. You can also find out more about the area by visiting her blog www.WestSoundLive.com or her web sites www.HomeFrontRealtyOnline.com
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