Zeno Swijtink
05-03-2009, 04:42 PM
Take advantage of new energy credits for home, car - MarketWatch (https://www.marketwatch.com/News/Story/Story.aspx?guid=a4d44230e1ac4585a0d5fae353ff717a&siteid=nwhpf&sguid=ngo8UtN9IEmDWt-k2kbJTg&print=true&dist=printMidSection)
TAXWATCH
Get your credit for going 'green'
Expanded tax breaks for energy-efficient remodels, electric cars are complicated
By Eva Rosenberg, MarketWatch
Last update: 8:12 p.m. EDT April 23, 2009
LOS ANGELES (MarketWatch) -- Just in time for Earth Day on Wednesday, the IRS published detailed rules to help taxpayers take advantage of the many new incentives for going 'green' at home and on the road.
In the American Recovery and Reinvestment Act of 2009, signed into law in February, there are at least thirteen sections designed to encourage Americans to reduce reliance on fossil fuels. Some of the new laws (or extensions of old laws) apply to individuals, others to businesses. We'll focus on the personal credits here.
As usual with the U.S. Congress, effective dates for implementing the energy reduction systems are all over the calendar. Some tax credits are effective since Jan. 1, others since the law's enactment date of Feb. 17. The ending dates range from Dec. 31, 2009 all the way to 2017.
Be very careful about checking effective dates for your improvements if your goal is to get a tax reward for your conservation efforts. Some of the dates are extremely confusing, between application of the old law and the new stimulus updates. So if you're planning to make any purchases on the basis of the new or updated credits, visit the IRS Web site for the most recent updates.
cont. here (https://www.marketwatch.com/News/Story/Story.aspx?guid=a4d44230e1ac4585a0d5fae353ff717a&siteid=nwhpf&sguid=ngo8UtN9IEmDWt-k2kbJTg&print=true&dist=printMidSection)
TAXWATCH
Get your credit for going 'green'
Expanded tax breaks for energy-efficient remodels, electric cars are complicated
By Eva Rosenberg, MarketWatch
Last update: 8:12 p.m. EDT April 23, 2009
LOS ANGELES (MarketWatch) -- Just in time for Earth Day on Wednesday, the IRS published detailed rules to help taxpayers take advantage of the many new incentives for going 'green' at home and on the road.
In the American Recovery and Reinvestment Act of 2009, signed into law in February, there are at least thirteen sections designed to encourage Americans to reduce reliance on fossil fuels. Some of the new laws (or extensions of old laws) apply to individuals, others to businesses. We'll focus on the personal credits here.
As usual with the U.S. Congress, effective dates for implementing the energy reduction systems are all over the calendar. Some tax credits are effective since Jan. 1, others since the law's enactment date of Feb. 17. The ending dates range from Dec. 31, 2009 all the way to 2017.
Be very careful about checking effective dates for your improvements if your goal is to get a tax reward for your conservation efforts. Some of the dates are extremely confusing, between application of the old law and the new stimulus updates. So if you're planning to make any purchases on the basis of the new or updated credits, visit the IRS Web site for the most recent updates.
cont. here (https://www.marketwatch.com/News/Story/Story.aspx?guid=a4d44230e1ac4585a0d5fae353ff717a&siteid=nwhpf&sguid=ngo8UtN9IEmDWt-k2kbJTg&print=true&dist=printMidSection)