New Tax Credit
Dear Consumers:
On February 17, 2009, President Obama signed a stimulus bill (The American Recovery and Reinvestment Act of 2009) that made some significant changes to the energy efficiency tax credits. One of the highlights is an insulation tax credit that could benefit you.
For insulation to qualify for this tax credit, its primary purpose must be to insulate. (for example: vapor retarders are covered, siding does not qualify). The insulation must be expected to last 5 years OR have a 2 year warranty. The total credit available is 30% of cost, up to $1,500.00 and it is subject to a $1,500.00 maximum per homeowner for all improvements combined. Improvements made in 2009 will be claimed on your 2009 taxes (filed by April 15, 2010) — use IRS Tax Form 5695 (2009 version) — it will be available late 2009 or early 2010.
If you have recently or plan to install insulation in the future please notify your tax preparer as they can assist you with taking the credit on your tax return.
Thank you for your business!
Hershel L Graber, President
Federal Tax Credits for Consumer Energy Efficiency
Form 5695 - Residential Energy Credits