Federal Tax Credits for Reflective Bubble Insulation
Providing Consumers Tax Credits in 2009-2010 for Reflective Bubble Insulation Purchased and Installed in 2009-2010
The American Recovery and Reinvestment Act of 2009
On
February 17, 2009, President Obama signed "The American Recovery and
Reinvestment Act of 2009" that made some significant changes to the
existing energy tax credits that apply to insulation. The highlights
are:
- The tax credits that were previously effective for 2009, have been extended to 2010 as well.
- The tax credit has been raised from 10% to 30%.
- The maximum credit has been raised from $500 to $1500 for the two year period (2009-2010) for all improvements combined.
Reflective Bubble Insulation Tax Credit Summary:
- For bubble insulation to qualify, its primary purpose must be to insulate.
- must be "placed in service" from January 1, 2009 through December 31, 2010
- must be for taxpayers principal residence
- improvements made in 2009 will be claimed on your 2009 taxes (filed by April 15, 2010) — use IRS Tax Form 5695 (2009 version) — it will be available late 2009 or early 2010
- For tax purposes, save your receipt and the Manufacturer's Certification Statement.
- Must be expected to last 5 years OR have a 2 year warranty.
- Installation costs are not included.
EcoFoil Reflective Bubble Insulations are eligible for the 2009-2010 Tax Credit.
Download a copy of the Manufacturer's Certification Statement and SAVE WITH YOUR TAX RECORDS if you plan to obtain the tax credit. You do not need to submit this form to the IRS with your tax form.
*EcoFoil strongly suggests that you talk with your tax professional in determining actual eligibility for tax credits.
