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 | 2011 Energy Efficiency Tax Credits |
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2011 Energy Efficiency Tax Credit Information--Effective January 1, 2011!
The tax credit made available to homeowners as part of the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010, signed into law December 17, 2010, extends certain energy efficient tax credits for qualifying windows, skylights, and exterior doors for a period of one year.
Printable Information Sheet: 2011 Energy Tax Credit Flyer
What windows and doors are eligible for the credit?
Windows, skylights and exterior doors that meet the ENERGY STAR rating published criteria for the ENERGY STAR climate zone in which they are installed.
How much is the window tax credit?
The tax credit is $200 for windows and skylights and $500 for exterior doors. The maximum credit for all taxable years for qualifying products is $500??"no more than $200 of the credit can be attributable to expenses for windows and skylights.
What percentage of the product(s) purchase price is eligible?
Ten percent of the purchase price up to the cap listed above (not including labor or materials for installation).
When does the tax credit take effect and how long does it last?
The tax credit begins January 1, 2011 and expires December 31, 2011. Purchasers of qualifying windows, skylights and exterior doors must have them installed in their primary residence by December 31, 2011.
How does the tax credit compare to the previous credits? Are consumers who took advantage of the previous credits eligible for the 2011 tax credit?
The 2011 tax incentives revert to the 2005-2008 levels: 10% of the cost of installing efficient windows. Anyone who has taken advantage of the 2006-2010 programs cannot apply for incentives that exceed the cap. Example: if a consumer claimed $500 in 2006 for a qualifying exterior door, the tax credit is exhausted; if only $300 was claimed in 2009, $200 can still be claimed - for a total of $500.
Where can I get more information on the tax credits?
This information represents the best information available as of December 20, 2010. It summarizes the changes to the IRS Federal Tax Code (US Code Title 26, Section 25C) amended by the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010. Contact an accountant or other tax professional for advice related to the specific tax credits.
The IRS will issue additional specific guidance soon. Visit http://www.irs.gov/ for updated information. |
2010 Energy Tax Credit Qualifications for Windows and Patio Doors--Expires December 31, 2010!
- Purchase and install Park Avenue windows or doors with a qualifying glass package from our E3-MAX® Glass Family of triple pane and dual pane Low-E insulating glass units.** The window or door must have both a U-Factor and SHGC of 0.30 or lower.
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Obtaining a Manufacturer’s Certification Statement is a requirement by the IRS in order to file for your Tax Credit. This document can be downloaded from the links below. Other supporting documents that should be saved (but not required by the IRS) are a sales contract, invoice and the window or door product performance labels (NFRC***/ENERGY STAR® label). NOTE: the tax credit is for the cost of the product only, not installation.
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Install qualifying products beginning January 1, 2009 through December 31, 2010 and meet all other requirements outlined in the federal tax code.***
- Claim the tax credit associated with your qualifying purchase on your Federal filing for the 2009 and/or 2010 tax year. Please note, the entire tax credit can be for windows.
The Manufacturer's Certification Statement is the only document required by the IRS that can be relied upon by you, the homeowner/taxpayer, for verification that certain Thermal Industries, Inc. windows and/or sliding glass doors are eligible for the Internal Revenue Service Tax Credits identified in the American Recovery and Reinvestment Act of 2009. ENERGY STAR has published tax related interpretations of the ARRA of 2009 for windows/doors on their web site.
The Park Avenue Window Manufacturer also suggests that homeowners keep their purchase receipt(s) and, remove and retain the ENERGY STAR / National Fenestration Rating Council (NFRC) window/door labeling (see example above) from all products along with the Manufacturer's Certification Statement. The IRS Notice 2009-53 suggests that the taxpayer is not required to attach this Manufacturers Certification Statement, or the labels, to their tax return. However, you may be required by the IRS to provide the above documents as proof that your Thermal Industries, Inc. windows/doors meet the ENERGY STAR requirements for the Tax Credits. As in all tax matters, taxpayers are advised to consult their tax professional.
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Amount of Rebate:
- The maximum amount for the Energy Efficiency Tax Credit is $1,500.
- The amount of the tax credit equals 30% of the homeowner's cost of the product
- Example A: Product Cost = $2,500, Tax Credit = $750
- Example B: Product Cost = $5,000, Tax Credit = $1,500
- Example C: Product Cost = $10,000, Tax Credit =$1,500
*Please note, not all ENERGY STAR qualified windows and patio doors qualify for a tax credit. These tax credits are available for a number of products at the highest efficiency levels, which typically cost much more than standard products. If, for whatever reason, you decide not to purchase a product covered by the tax credit, you may still consider purchasing an ENERGY STAR product. ENERGY STAR distinguishes energy efficient products, which although they may cost more to purchase than standard models, will pay you back in lower energy bills within a reasonable amount of time, without a tax credit.
**All Park Avenue window and door products with E3-MAX Glass or Dual-Max Glass will qualify when used for remodeling, replacement or home improvement.
***U-factor and Solar Heat Gain Coefficient (SHGC) ratings can be found on the National Fenestration Rating Council (NFRC) label that is affixed to every window and patio door unit manufactured by our company.
THIS DOCUMENT IS NOT INTENDED TO CONSTITUTE LEGAL OR TAX ADVICE. MORE COMPREHENSIVE INFORMATION WILL BE MADE AVAILABLE BY THE IRS. INDIVIDUALS SHOULD CONSULT THEIR OWN INDEPENDENT TAX ADVISERS.
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