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2009/2010 Tax Credit for Twitchell Fixed Screens Frequently Asked Questions
Q: What is the Federal Tax Credit for Energy Efficiency?
A: On February 17, 2009 President Obama signed The American Recovery and Reinvestment Act of 2009 that included energy efficiency tax credits for select products purchased during 2009 and 2010. A qualifying product must be for an existing home, not new construction and must be a principal residence.
Q: How much is the Federal Tax Credit?
A: Qualifying products are eligible for a tax credit of the purchase price, not including installation costs, with a cap of $1,500. A maximum $1,500 is a combined total amount that can be claimed for all purchases of qualifying energy efficient products placed into service between January 1, 2009 and December 2010
Q: What products produced by Twitchell Corporation qualify for the federal tax credit?
A: Fixed screens using Twitchell’s Textilene® 80, Textilene® 90, Textilene® 95 and Shadeview™ may qualify for the tax credit.
Q: How does fixed screens using Twitchell’s Textilene® 80, Textilene® 90, Textilene® 95 and Shadeview™ qualify for the tax credit?
A: The primary function of Textilene® 80, Textilene® 90, Textilene® 95 and Shadeview™ is to reduce heat loss or gain in a dwelling which makes them eligible for the Section 25C tax credit as an “insulation system.” The fixed screens are an Eligible Building Envelope Component and meet the requirements for the Non-business Energy Credit under American Recovery and Reinvestment Act of 2009.
Q: How does the homeowner collect the Federal Tax Credit?
A: The homeowner must retain a copy of the receipt for the purchase of their fixed screen made with any of the following screen fabrics Textilene® 80, Textilene® 90, Textilene® 95 or Shadeview™ as well as a copy of the attached Manufacturing Certification Statement. The credit is usually taken on Form 5695 and is submitted when the homeowner files their 2009 or 2010 personal tax return. For further filing information the homeowner should consult with their tax advisor or visit the IRS website for further guidance.
Q: What is a Manufacturing Certification Statement?
A: A Manufacturing Certification Statement is a signed statement from the manufacturer certifying that the product or component qualifies for the tax credit. The Certification includes a list of qualifying products along with product details and restrictions.
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