Shopping Tools: U. S. Tax Credit Overview

 

2012-2013 U. S. Tax Credit

U. S. Biomass Stove Tax Credit Reinstated for 2012-2013!

A U. S. federal tax credit on 75 percent efficient biomass heating appliances, which expired on Dec. 31, 2011, was reinstated by the "fiscal cliff" legislation - the American Taxpayer Relief Act of 2012 (H.R. 8) - signed by President Obama on Jan. 2, 2013. The bill includes a "tax extender" for Internal Revenue Service Section 25C, which provides a tax credit for, among many other things, qualifying biomass-burning stoves.  The extender provides a 10 percent tax credit of up to $300 on a qualifying biomass heating appliance purchased between Jan. 1, 2012 and Dec. 31, 2013. The credit claimable on the purchase or installation of qualifying biomass units is limited to a "lifetime limit" of $500 (and may be impacted by the purchase or installation of other products that qualify for a 25C credit).

Featuring the industry’s most advanced technologies for heat efficiencies, the Heat & Glo Northstar wood burning fireplace qualifies for the tax credit. It will provide ambience, warmth and comfort to your home and is covered by a limited lifetime warranty.

After making the purchase, simply download and print the official Manufacturer’s Certificate, which indicates that the product qualifies for the tax credit. You can rely on the certificate when preparing your tax return.

Note: For tax years 2006-2011, there is a $500 cap on home efficiency tax credits claimed by a single consumer. For example, if you claimed $300 in 2007, you can claim only $200 in 2011. It is important to note, however, that a consumer who claimed a $1,500 tax credit as part of the 2009/2010 tax credit, will benefit from the full amount but is not eligible for the new $300 credit.

Tax Credit FAQs


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