Individuals purchasing qualifying Madico window films from January 1, 2006 — December 31, 2007 may be eligible for a tax credit under Section 25C of the Internal Revenue Code. The IRS allows homeowners to take a tax credit of 10% of the cost of solar control window film installed in their primary residence, with a life time maximum credit of $500 per taxpayer. The tax credit is a direct dollar for dollar credit, or reduction, in the amount of taxes you must pay, not just a tax deduction from income. Only the cost of the film itself, and not the installation cost, qualifies for the credit. In order to qualify for the credit, the window film must be installed in calendar year 2006 or 2007, and must be certified by Madico to be an Eligible Building Component Envelope in your geographic area. To take advantage of the tax credit, you must do the following: Make sure the film you have installed qualifies for the credit. Qualifying products vary by the geographical climate zone in which you live. 1. Determine your climate zone
2. Determine which window films qualify in your climate zone
3. Download the certification for your product by clicking the appropriate link
Retain your original film invoice illustrating the cost of the window film only and a copy of the product’s certification from Madico for your climate zone. You may also download Notice 2006-26 of the Internal Revenue Service which offers guidance and clarification of the requirements for compliance with Section 25C of the tax code. IRS form 5695 for Residential Energy Credits is also available for download. Madico would like to thank the IWFA for their efforts getting the Internal Revenue Service to approve qualifying window films for this program. |
