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 | The federal government is offering three different incentives for consumers to become more energy-efficient. There are two separate energy tax credits: one is for certain types of home improvements (such as installing new doors and windows), and another tax credit is for installing alternative energy systems such as solar panels. A third incentive involves rebates administered though state governments providing cash rebates for purchasing EnergyStar certified appliances. | |
Tax Credits for Energy Improvements
Homeowners can take advantage of two different tax credits for energy improvements. The first tax credit: 30% of the purchase price of doors, windows, insulation and other home improvements. There's a $1,500 max, and the credit expires at the end of 2010. The second credit: 30% of the cost of solar panels, fuel cells, geothermal and other alternative energy systems, with no maximum credit amount, on purchases through 2016.
| State Rebates for EnergyStar Appliances
Dubbed the "Cash for Appliances" program, the feds are disbursing cash rebates for purchases EnergyStar-certified appliances. The rebates are administered through the state, and each state has its own rules and criteria.
| IRS Offers to 'Open House' for Taxpayers Needing Extra Help
On Saturday May 15, 2010, the Internal Revenue Service will be hosting an "open house" at local field offices for individuals and small business owners to resolve any tax problems. IRS agents will be available to answer questions about filing tax returns, setting up payment plans, and resolving audits.
| Philadelphia City Tax Amnesty
Philadelphia is offering a tax amnesty for individuals and businesses that owe city taxes. This program is designed to run in conjunction with Pennsylvania's statewide amnesty. Program ends June 30th.
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