The Energy Tax Credit
On February 17th, President Obama signed the $789 billion compromise stimulus bill that includes tax credit incentives for homeowners to make energy-efficient home improvements. The bill extends the expanding tax credits through 2010 on energy-efficient investments - including qualifying windows and doors!
The approved bill includes the ability for homeowners to gain a tax credit of 30 percent of the cost of qualifying energy-efficient upgrades to a maximum of $1,500 per househould for 2009 and 2010.
The new regulations provide FIVE TIMES MORE TAX CREDIT to homeowners than was previously available under a similiar bill. Additionally, the new law has some very specific restrictions, including:
Windows purchased must be equal to or below a U-Factor of 0.30 and a Solar Heat Gain Coefficient (SHGC) of 0.30.
The purchase of the qualified windows must be made during the taxable year for which the credit is being claimed.
The credit is only allowed on the price of the qualified windows themselves, not on installation costs, onsite preparation, assembly or sales tax.
The tax credit is allowable only for qualified window units placed in service in 2009 and 2010.
Homeowners need to save their receipts for their windows purchased along with all window labels and stickers to apply for the tax credit.
Manufacturing Certification Statements for:
| | Eastern MI | | Eastern CertainTeed | | Western MI | E-Saver | |
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| | Energy Star Information | How to Qualify | |
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Many MI Windows and Doors or Certainteed products with high performance glass (Eastern: TMAX, TMAX Extreme, Thermaflect, Thermaflect Extreme, Green & Clean, Green & Clean Extreme, Western: LoE 366) will qualify when used for remodeling, replacement or home improvement. Please consult your tax planner and review all IRS guidelines. MI Windows and Doors is not a tax advisor.
The above is the best available information and is a partial summary of the revisions to the federal tax code (U.S. Code Title 26, Section 25C) as updated by the American Recovery and Reinvestment Act of 2009. Taxpayers should check with the IRS regarding updates to the IRS interim guidance in Notice 2006-26 for further details on the tax credit. Other energy efficient improvements may apply; check the following link and the IRS website for more details (http://www.irs.gov/newsroom/article/0,,id=154657,00.html). MI Windows and Doors bears no responsibility in the validation of obtaining the tax credit. Please consult with a professional tax advisor or the IRS.
MI Windows and Doors expressly disclaims any responsibility for determining whether a particular product qualifies for the tax credit. Further, MI does not intend to and is not providing legal or tax advice and recommends that purchasers consult their own tax advisor to determine whether the products they purchase qualify for the tax credit.
"ENERGY STAR" is a registered trademark of the U.S. Environmental Protection Agency. “MI Windows and Doors, Inc.” and the MI logo are registered trademarks of MI Windows and Doors, Inc. All other marks where denoted are marks of MI Windows and Doors. All rights reserved