Federal Tax Credit Information

Updated as of 7/20/2009

What Exactly is Happening?

On December 17, 2010, President Obama signed the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010. This law extends the tax credits for energy efficiency into 2011, BUT at lower levels. The levels revert back to those in effect in 2006 and 2007, which were 10% of the cost of the improvement, up to $500, with a $200 max for windows, and several other set maximums. Highlights:

• 10% up to $500 for insulation, roofs, and doors.

• Windows capped at $200, but qualification now ENERGY STAR

• Furnace and boilers capped at $150, and all furnaces and boilers must meet 95 AFUE

• $50 for advanced main air circulating fan

• $300 for air conditioners, air source heat pumps, water heaters, and bio-mass stoves

• $500 lifetime limit. If you got over $500 in these tax credits from 2006-2010, you are not eligible for anything more.

ADDITIONAL INFORMATION

This Tax Credit applies only to the purchase of the appliance & parts but not towards labor installation costs.

The new tax credit begins immediately and applies to qualifying appliances purchased in 2011. The Internal Revenue Service (IRS) has issued a full list of efficiency guidelines regarding which products qualify.

Must be an existing home and your principal residence.

What Exactly is a Tax Credit?

Consumers claim the credit on their federal income tax form when filing for that year’s taxes. (Tax Form 5695) The credit then increases the tax refund or decreases the amount the taxpayer has to pay, dollar-for-dollar; whereas, tax deductions simply lower your taxable income. Homeowners should consult their tax advisor to determine whether they qualify for any potential income tax credits.

Consumers must keep the Manufacturer’s Certification Statement with their tax returns in case of an IRS audit. The entity in which you purchased the appliance can provide you with this document.

Non-Eligible Consumers

If you have already taken Federal Tax Credits dating back to 2006, it is possible you may not be eligible for current 2011 Federal Tax Credits. Each taxpayer’s situation is different. Please consult with your personal accountant or financial advisor, or review your personal tax return records dating back to year 2006.

Details:Must be an existing home & your principal residence. New construction and rentals do not qualify. .

How will Consumers Know when there will be a tax credit to take advantage of?

http://www.energystar.gov/index.cfm?c=tax_credits.tx_index

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What Chimney Kraft Products Apply?

(See below)

Lopi Wood Stoves	Lopi Wood Inserts
Leyden	Answer
Answer	Declaration
Republic 1250	Revere
Republic 1750	Freedom
Endeavor	Freedom Bay
Liberty

Lopi Pellet Stoves	Lopi Pellet Stove Inserts
Leyden	Pioneer Bay
Pioneer	Yankee Bay
Yankee

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Blaze King Wood Stoves	Blaze King Wood Inserts
King	Princess Insert
Princess

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Enviro Wood Stoves	Enviro Wood Inserts
Kodiak 1200	Kodiak 1200
Kodiak 1700	Kodiak 1700

Enviro Pellet Stoves	Enviro Pellet Inserts
EF2	EF2
EF3	EF3
Meridian	Meridian
Empress	Empress
The MINI
Maxx

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FireplaceXtrordinair Wood Stoves	FireplaceXtrordinair Wood Inserts
36 Elite	33 Elite
44 Elite

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