Tuesday, January 29, 2013

25C Tax Credit Program Reinstated for Home-owners

Have you made an energy-efficient renovating in 2012? What this means is you could be entitled to a tax credit as much as $500. That’s because the 25C Tax Credit, which initially expired at the end of 2011, was reinstated as part of the bill to prevent going over the so-called ‘Fiscal Cliff.’ The decision means qualifying home improvements retroactive to Jan. 1, 2012 qualify for the tax credit.

I am certain what you’re asking - just which home improvements meet the criteria? With an air conditioning system to qualify, it must:

A split system central a / c must meet or exceed 16 SEER and 13 EER.
Package system central air conditioning units must meet or exceed 14 SEER and 12 EER.
An air source heat pump must meet or exceed 15 SEER and 12.5 EER and 8.5 HSPF, to be able to qualify for the tax credit.
Package heat pump systems must meet or exceed 14 SEER and 12 SEER and 8 HSPF.
Details Courtesy: Air Conditioning Contractors of America

Additional projects possibly qualified for the tax credit include new roofs, windows, doors, insulation and hot water equipment, just to mention a few. Visit http://ase.org/taxcredits to read more about the 25C Tax Credit. The IRS will release information in the coming weeks regarding how to apply.

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