Earn Energy Star Tax Credits for Replacing Your Windows with Thermal Industries Vinyl Replacement Windows!
November 01, 2006 (PRLEAP.COM) Lifestyle News
Pittsburgh, Pa. November 1, 2006 – As part of the energy bill approved in 2005, homeowners are eligible for a one-time tax credit of up to $500 off their federal tax obligation for retrofitting their homes with energy saving products and appliances. A homeowner can claim up to $200 of the $500 credit for upgrading windows specifically.* The federal government has announced that Energy Star-labeled windows will qualify for the credit. For existing residences, the IRS has provided a "special rule" (on page 7 of the IRS Guidance Notices 2006-26) for claiming the $200 residential efficient window tax credit with Energy Star Windows. The new special rule reads as follows:
.03 Special Rule for ENERGY STAR Windows and Skylights. Taxpayer may treat an exterior window or skylight that bears an ENERGY STAR label and is installed in the region identified on the label as an Eligible Building Envelope Component and may rely on such ENERGY STAR label, rather than on a manufacturer's certification statement, in claiming the credit.
The rule is expected to make compliance with the IRS tax credit requirements easier while reducing transaction and recordkeeping burdens to consumers. Rather than obtain a special window manufacturers' certification statement, all parties can now rely on using the established regional ENERGY STAR window rating label. The ENERGY STAR web site has further information on the regional window labels and performance criteria at www.energystar.gov.
Both the ENERGY STAR sticker and the NFRC stickers must be removed from the windows by the homeowners and saved. Homeowners are advised to keep the ENERGY STAR and NFRC LABELS and purchase receipt as proof for the IRS, in the event they are audited.
As of October 27, 2006, Thermal Industries will print the Energy Star and NFRC certifications onto a single, easily removable label. Thermal Industries new labels will be 4" wide x 9" tall and will facilitate the homeowners' task of saving these labels and keeping their documentation in case of IRS audits. No other window manufacturer is currently doing this process. Reprints of Energy Star and NFRC labels for jobs already installed are available.
Refer to your tax preparer for additional tax credit details.
*Tax credits can only be claimed for qualified ENERGY STAR products installed during tax years 2006 and 2007.
Thermal Industries, Inc., a Division of Atrium, is a Pittsburgh, PA-based manufacturer of custom-made vinyl windows, doors, patio enclosures, vinyl and composite deck planks, and vinyl rail systems. The company, in its 46th year, maintains distribution through 18 branch locations east of the Mississippi. For more information on other Thermal Industries products, call 800-245-1540 ext. 1941 or visit http://www.thermalindustries.com.
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