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Tuesday, July 13, 2010

Residential Energy Credit

You still have time to make qualified improvements to your main home and claim the credit on your upcoming Tax Year 2010 tax return.

The American Recovery and Reinvestment Act (ARRA) provides tax incentives for individuals to invest in energy-efficient products. Publication 4845 highlights some key points about the Nonbusiness Energy Property Credit and the Residential Energy Efficient Property Credit. Homeowners who have been considering some energy efficient home improvements may find these tax credits will result in bigger tax savings. Form 5695, Residential Energy Credits, is used to claim the credits.

Attached is a PDF of the Residential Energy Credit flyer for your information. It is posted on IRS.gov. It can be downloaded and printed or distributed electronically.

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