2011 Federal Tax Credits for Consumer Energy Efficiency

In December 2010, President Obama signed the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010. This law extended the tax credits for energy efficiency into 2011. For 2011, the tax credit available represents 10% of the cost of the improvement, up to $500, with a $200 max for windows, and several other set maximums. The maximum tax credit available is $1,500. In addition, there are no upper or lower limits on income to receive the tax credit. Thus, making the credit virtually available to anyone who files a federal tax return. The tax credit must be claimed on 2011 IRS Form 5695 and submitted with you 2011 taxes to be filed by April 15, 2012. In 2010, the tax credit represented 30% of eligible purchase up to a maximum credit of $1,500. In order to qualify for the 2010 tax credit the 2010 IRS Form 5695 should have been filed with your 2010 taxes prior to April 18, 2011. However, if you failed to file for this credit all is not lost. If you think the credit is significant enough it might be worth filing an amendment to your tax return.

For additional information see the Energy Star website or contact us for your specific item.