Energy-Efficiency Tax Credit Now Retroactively Extended Through End of 2013!
We’re happy to report that “Section 25C” of the US Tax Code has been reinstated by the American Taxpayer Relief Act of 2012 and is retroactive back to January 1st, 2012. That means customers who purchased from Window World of Wyoming Valley during 2012 are eligible to receive a credit for qualifying products as part of “Section 25C” of the US Tax Code.
The previously enacted American Recovery and Reinvestment Act of 2010, or the Stimulus Bill, has officially been extended through the end of 2013, with stipulations. The bill offers homeowners incentives for improving their home’s energy efficiency.
For purchases that were installed through December 31st, 2012, the tax credit for qualified energy efficiency improvements will cover up to 10% of the total cost of replacement windows and doors, up to a total of $500:
- Up to $200 maximum credit for windows
- Up to $300 maximum credit for energy efficient doors
For example, if you purchased $5,000 worth of upgraded-glass windows and doors from Window World of Wyoming Valley, you may get the maximum 10% tax credit of $500 – making the real cost of your windows only $4,500. This is an aggregate tax credit from 2006-2013, meaning any homeowner who has already received this credit on energy efficient home improvements and appliances is not eligible for the 2012 tax credit extension.
This credit also applies to customers purchasing energy efficient windows and doors from Window World of Wyoming Valley in 2013! Be sure to talk to your installer more about this tax credit and save your sales receipt to file with your 2013 tax return.
Now, in addition to Window World of Wyoming Valley’s professional consultation, expert installation and low prices you already received, you can get an additional 10% off the cost of your windows!
Qualifying and Claiming The Tax Credit is Easy
To get in on the attractive tax incentives:
- Check whether you purchased qualifying windows or doors from Window World of Wyoming Valley, and locate your sales receipt and the NFRC/ENERGY STAR label to be filed with your tax documents.
- Make sure your energy-efficient windows or doors were installed BEFORE December 31, 2012 in order to claim the credit on your 2012 tax return.
- Claim the tax credit on your federal filing for the 2012 tax year. Download Form 5695 (Residential Energy Credits) here, as well as the associated Manufacturer’s Certificate.
A “qualifying” window or door is one that carries both a U-Factor equal to or less than 0.30 and a Solar Heat Gain Coefficient (SHGC) equal to or less than 0.30. You can find more information on energy ratings and qualifying products at the ENERGY STAR® website.