New! - Tax Credit For Window Film
New! - Tax Credit For Window Film
The Energy Policy Act of 2005 created federal tax credits for homeowners who make certain energy efficient improvements. On October 3, 2008, President Bush signed into law the "Emergency Economic Stabilization Act of 2008", which extended tax credits for energy efficient home improvements made in 2009. Consumers purchasing qualifying 3M Window Film products between January 1 and December 31, 2009 can receive a 2009 tax credit. Click here for a list of qualifying 3M Window Film products (PDF, 1.3 Mb). A tax credit directly reduces your overall income tax, which is much better than a deduction, which reduces the amount of income subject to tax. Homeowners can receive a 30 percent credit on the costs of qualified window film products, up to a maximum of $1500.
Complete IRS form 5695 and file your 2009 Income Tax Return by April 15, 2010. Download IRS form 5695 (PDF, 328 Kb) from the IRS website, along with a list of other available energy efficiency tax credits. You will need a copy of the dealer invoice for the window film product, separated by cost for film and installation. Installation costs are not eligible for the tax credit. You will also need a copy of the manufacturer’s certification statement, which determines which products qualify based upon where you reside. Make sure to keep a copy of both of these documents for your records.
