Energy Tax Credit For Window Film
2011 Window Film Tax Credit Update
A provision in the recent Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 has created a window film tax credit opportunity for energy efficient films installed in residential structures.
Under the new policy, the qualifying window film tax credit is 10% of the film cost with a maximum total credit of $500. The new policy went into effect January 1, 2011 and expires December 31st of 2011.
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% window film tax credit on the costs of 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
Credits Simple
To take advantage of the 2011 window film tax credit, complete IRS form 5695 and file 2010 Income Tax Returns by April 15, 2012. 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.
