Nevada Military Relocation Specialist, CREECH, Nellis AFB Real Estate, North Las Vegas

Special Rules for Members of the Military, the Foreign Service

and the Intelligence Community

Congress has acknowledged the unique circumstances affecting members of the military, the foreign service and the intelligence community by making the following exceptions that apply to both the $8,000 tax credit for first-time home buyers and the $6,500 tax credit for repeat home buyers.

Exemption From Tax Credit Recapture Rules

• Typically, homes that are sold or that cease to be used as a principal residence within three years of the initial purchase are subject to recapture of the tax credit.
• However, qualified service members who sell or move from a tax credit home within three years of the initial purchase due to official extended duty are exempt from the recapture rule.

Extension of Tax Credit Deadlines

• The home buyer tax credit is available for qualified purchases with a binding sales contract in place on or before April 30, 2010 and closed by September 30, 2010.
• However, for qualified service members who are ordered on a period of official extended duty, these dates are extended. For these home buyers, 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.

Definitions

• “Qualified service member” means a member of the uniformed services of the U.S military, a member of the Foreign Service of the U.S., or an employee of the intelligence community.
• “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.

to Reach a Nevada Real Estate Specialist who can help with Military Relocation including  Nellis Air Force Base, and Creech Air Force Bace, Call 702-604-7739 or visit us on the web at http://www.richardballen.com . 

http://www.RichardBallen.com 

Creech Air Force Base (IATA: INS, ICAO: KINS, FAA LID: INS), formerly known as Indian Springs Air Force Auxiliary Field, is a United States Air Force base located one mile (2 km) north of the central business district of Indian Springs, in Clark County, Nevada, United States.^[2] It is about 35 miles (56 km) northwest of Las Vegas and 45 miles (72 km) northwest of Nellis Air Force Base. It is named in honor of General Wilbur L. “Bill” Creech, known as the "Father of the Thunderbirds".

The host unit is the 432d Wing, which has six operational squadrons, one maintenance squadron, and MQ-9 Reapers and MQ-1 Predators.

Along with being the aerial demonstration training site for the Thunderbirds, the base plays a major role in the ongoing War on Terror. The base is home to the MQ-1 Predator unmanned aerial vehicle which is used regularly in Afghanistan and Iraq. The base is also home to the Unmanned Aerial Vehicle Battlelab.