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Special Update...
Energy Star Label Qualifies Some Products For Now
Windows and skylights meeting current Energy Star requirements are
currently eligible for energy efficient tax credits established unter
the American Recovery and Reinvestment Act, according to an April 22 Internal Revenue Service press release.
That eligibility, which would mean these products would not have to
have a U-factor of less than .30 and a SHGC of less than .30 to
qualify, is scheduled to end June 1, or "until guidance is released."
Headlined
"Energy-Saving Steps This Year May Result in Tax Savings Next Year,"
the IRS relesase says, "homeowners generally may continue to rely on
manufacturers’ certifications that were provided under the old
guidance. For exterior windows and skylights, homeowners may continue
to rely on Energy Star labels in determining whether property purchased
before June 1, 2009, qualifies for the credit."
Acknowledging
the stricter 30/30 requirements for tax credits written into ARRA, the
IRS notes, "Homeowners should be aware that the standards in the new
law are higher than the standards for the credit that was available in
2007 for products that qualify as 'energy efficient' for purposes of
this tax credit. The IRS will issue guidance that will allow
manufacturers to certify that their products meet these new standards."
A
number of window manufacturers had become aware of the IRS statement
and had started notifying customers that Energy Star labeled products
would qualify for the tax credit, even if they didn't meet the 30/30
requirements. Window & Door confirmed with knowledgeable
sources that such an interpretation is correct, based on what IRS
officials are saying now. Those same sources also offered some
caveats. First, the June 1 date could change once the "official
guidance" is released, and second, the interpretation of what products
might qualify for the tax credit.
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