Radiant Barrier Tax Credit Information -2011 Tax Year
Federal Tax Credits for Energy Efficiency Improvements under the "Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010"
Do Radiant Barriers Qualify? YES!!
- The new allowance is 10% for the 2011 tax year. Labor costs do not qualify for the rebate. The maximum credit is $500 for the combined years of 2006-2011. Talk to your tax professional for more details.
- The product must be "Placed In Service" between January 1, 2011 and December 31, 2011 - And you shoud file by April 15, 2012, Here is the new Manufacturer's Certification Certificate for 2011. You will also need the 2011 version of IRS Form 5695 (it's expected to be released by the IRS late in 2011)
- Tax Credit can only be used for the taxpayers primary residence.
- The improvement (or product) must be expected to last at least 5 years or have a 2 year warranty
- Here is complete information from RIMA - Reflective Insulation Manufacturers Association. Please note - this letter is discusses the question of whether or not radiant barrier is included in the tax credit. As of February 2010 the notice from the IRS was that Radiant Barrier Foil Insulation IS included and DOES qualify for the tax credit. Unless the IRS changes it's mind and issues a negative ruling, radiant barriers are still included. IF a negative ruling is ever issued (we don't anticipate this) it would be effective FROM the issue date. All products sold/installed before the date would be "grand-fathered" into the tax credit. Radiant Barrier and IRS Tax Credit Information Updated 3/30/2011
==================== 2010 Info Below ======================
Federal Tax Credits for Energy Efficiency Improvements under The American Recovery and Reinvestment Act of 2009
On February 17, 2009, The American Recovery and Reinvestment Act of 2009 was signed. This has some significant changes to the energy efficiency tax credits.
Do Radiant Barriers Qualify? YES!!
- The new allowance has been rasied from 10% to 30% rebate for the cost of materials only. Labor costs do not qualify for the rebate. The maximum credit has been raised from $500 to $1,500 for the two year period for all combined improvements.
- The product must be "Placed In Service" between January 1, 2009 and December 31, 2010
- Tax Credit can only be used for the taxpayers primary residence.
- The improvment or product must be expected to last at least 5 years or have a 2 year warranty
- Here is complete information from RIMA - Reflective Insulation Manufacturers Association Radiant Barrier and IRS Tax Credit Information
How To Get Your TAX CREDIT.
- Print your receipt either from your order confirmation screen or the confirmation email you receive after placing your order.
- Download the new IRS Tax Form 5695 to file with your tax return.
- Download the Manufacturer's Certification Certificate
- Keep this certificate and purchase receipt with your other "supporting records" for your tax return. You DO NOT have to send in the Manufacturer's Certification Certificate or Purchase Receipt with your tax return. ONLY send the IRS Form 5695.
- AtticFoil.com recommends consulting your tax professional regarding eligibility of tax credits.