How to Get Tax Credits for Windows in Illinois
Illinois residents and business owners can take advantage of the tax benefits offered by installing energy efficient windows into their homes and businesses.The American Recovery and Reinvestment Tax Act of 2009 ushered in many tax credits for those who choose energy efficiency when building or remodeling their home or business. In 2010, the tax benefits were scaled back but still remain as a tool for those seeking energy efficient windows and a tax benefit for installing them.
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Instructions
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Choose an retail store in Illinois from which to buy the energy efficient windows. Visit any most any home improvement or window specialty store.
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Browse windows certified to meet the standards of the National Fenestration Rating Council and Energy Star. Choose the appropriate windows, purchase the products and schedule installation before December 31, 2011.
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Retain the accompanying NFRC and Energy Star labels for your records along with purchase receipts.
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Download and print IRS Form 5695 from the IRS website. Complete the form by including all deductions for which you qualify, specifically section 2B for exterior windows (see Resources).
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Enter an amount on line 2B on the IRS Form commensurate with the cost of your energy efficient windows up to a total of $500 for any windows installed between 2006 and 2011. For example, if you have previously claimed a credit of $300 for window replacements or installations previously, you are only able to claim an additional credit of $200 for windows installed in 2011.
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Submit your IRS form 5695 with your annual tax return in 2012.
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Tips & Warnings
Consult the National Fenestration Rating Council website to find participating local window retailers.
