Energy Tax Credit For Window Film
2012-2013 Window Film Tax Credit
A provision in the recent "Fiscal Cliff" Legislation has created a tax credit opportunity for window films installed in residential structures.
Under the legislation, the qualifying credit is 10% of the film cost with a maximum total credit of $500. The new policy is retroactive to January 1, 2012 and expires December 31,2013.
Window film tax credits vary by climate zone. Download Vista tax credit qualification certificate document for more information.
Money in Your Pocket
A tax credit directly reduces your income tax, unlike a deduction, which reduces the amount of income subject to tax. The credit then directly increases the tax refund you receive or decreases the amount you have to pay. Homeowners can receive a 10% credit on the costs of window film, up to $500. Installation charges do not apply.
Energy efficiency can lower your federal tax bill and your monthly energy bill. Heat gained through windows makes up to 40% of your summer utility bill. Solar control window film reduces heat gain by 80%, which helps lower energy consumption. One study showed an average summer cooling cost savings of $105.
Which Window Films Qualify?
To figure out which window films qualify for your window type and specific climate zone, contact your local Vista™ window film dealer. Alternately, you can consult the Vista Window Film Qualifying Products Certification Statement that outlines which films, when installed with different window/frame types, qualify for climate zones defined by the 2009 International Energy Conservation Code.
For more information, visit www.windowfilmtaxcredit.com.
Making Window Film Tax
To take advantage of the window film tax credit, complete IRS form 5695 and file your Income Tax Return. Forms are downloadable at www.energystar.gov, along with a list of other available energy efficiency tax credits. Maintain copies of the dealer invoice and the manufacturer's certification statement for your records.
Other Important Links:
Please consult your tax advisor regarding your eligibility with respect to any tax credit.