Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010

Updated Tax Credit For Recovery and
Reinvestment Tax Act of 2009
10% Tax Credit, Up To $300

On December 17, 2010, President Obama signed the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010. This law extends the tax credits for energy efficiency into 2011, BUT at lower levels. The levels revert back to those in effect in 2006 and 2007, which were 10% of the cost of the improvement, up to $500, with a $200 max for windows, and several other set maximums.

Highlights:

• $500 lifetime limit. If you got over $500 in these tax credits from 2006 - 2010, you are not eligible for anything more.
• 10% up to $500 for insulation, roofs, and doors.
• Windows capped at $200, but qualification now ENERGY STAR
• Furnace and boilers capped at $150, and all furnaces and boilers must meet 95 AFUE
• $50 for advanced main air circulating fan
• $300 for air conditioners, air source heat pumps, water heaters, and biomass stoves

The Tax Credit of 10% (up to $300) may be issued for biomass-burning, home heating stoves purchased and installed for residential use during 2011. The guidelines specify that all biomass-burning stoves must be at least 75% efficient using the Lower Heat Value (LHV) method of testing.

To ensure BuckStove's efficiency complies with the guidance published by the U.S. Internal Revenue Service (IRS), New Buck Corporation, Inc. had the data, calculations, and results reviewed by ITS Warnock Hersey Laboratories, Inc. of Middleton Wisconsin. The following wood stove units have thus been determined as qualified for this Tax Credit*:

A Certificate of Efficiency is required from the manufacturer to receive this credit. Please click on the image of the certificate below to view and print Buck Stove's certificate. (Requires Adobe Reader)

* Homeowners should consult their tax advisor to determine whether they qualify for any potential income tax credits.

For more information regarding the American Recovery and Reinvestment Act of 2009 or The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010, please click on the following links:

I.R.S. Bulletin (June 22, 2009)
HPBA Website
H.R.4853.ENR (Sec 710)
EnergyStar Website