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Safe Harbor Provision On April 22, 2009, the Internal Revenue Service (IRS) issued a news release which temporarily expands the list of products that qualify for the residential energy efficiency tax credit. The "Safe Harbor" provision allows the less-stringent performance terms of the previous window, door, and skylight tax credit to carry over until June 1, 2009. Under the old tax credit, windows, doors, and skylights had to meet or exceed the prescriptive criteria established by the 2001 Supplement of the 2000 International Energy Conservation Code (IECC) or the 2004 Supplement of the 2003 IECC for the climate zone in which the product is installed. Either ENERGY STAR labels or manufacturer certification statements2 were required to document these requirements for windows and skylights; doors were required to have a manufacturer certification statement. These performance terms and certification requirements will continue until June 1, 2009. The monetary terms of the current tax credit still apply to all window, door, and skylight purchases made in 2009 and 2010. This is NOT a change in the tax law: As of June 1, all products must meet U-factor and Solar Heat Gain Coefficient (SHGC) maxima of 0.30. Please note that this is NOT the revised guidance document, which constitutes the final word from the IRS on how the tax credit will be implemented. The IRS plans to issue the revised guidance document later this spring. In Plain English 1 This means that if you had doors, windows, skylights or storm doors installed in your existing home between January 1, 2009 and May 31, 2009, you should double-check to see if they qualify for the tax credit. Under the older, more lenient guidelines, doors, windows and skylights only had to be Energy Star compliant to qualify. Additionally, under the old guidelines, storm doors may also qualify if they are installed over certain kinds of wood doors. Visit your nearest Leader location to find out more. It could mean an extra 30% in your pocket! Additional information will be posted as it is made available.
1 - Leader Home Centers expressly disclaims any responsibility for determining whether a particular product qualifies for the tax credit.
Leader Home Centers recommends that purchasers consult their own tax advisor to determine whether the products they purchase qualify for the tax credit.
Other restrictions apply.
2 - Taxpayers must keep a copy of the certification statement for their records, but do not have to submit a copy with their tax return. Additional information can be found at: www.energystar.gov/taxcredits. |
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