IRS Energy Tax Credit up to $300.00!

On February 17, 2009 President Obama signed into law, H.R. 1, the American Recovery and Reinvestment Act (ARRA).  This economic stimulus legislation includes a 30% tax credit (up to $1,500) for the purchase in 2009 and 2010 of a 75%-efficient biomass-burning stove as measured using a lower heating value.

The Internal Revenue Service (IRS) issued the guidelines for determining what stoves meet the efficiency requirements to qualify for the credit on June 1, 2009. In summary, to qualify a homeowner must:

1. Purchase and install a Nature's Comfort NC-40 Pellet Stove or GT-220 Downdraft Gasification Boiler in either 2009 or 2010.
2. Save the purchase receipt
3. Print and save a copy of the certification statement. Click here for the NC40. Click here for the GT-220.
4. Claim the tax credit associated with your qualifying purchase on your
       federal filing for the 2009 and/or 2010 tax year.
   
   Details of the Tax Credit
   
   1. The tax credit is for 30% of the amount paid for the qualifying product up to a maximum of $1500 combined for 2009 and 2010.
   2. The credit applies to the homeowner's existing primary residence only.
   3. A tax credit is a dollar-for-dollar reduction subtracted from your
       tax liability. Therefore, $1,500 can be subtracted directly from the
       amount of tax that is owed, or added to a tax refund.
   
   This summary information is provided as a convenience and may not be relied upon as a substitute for professional tax advice. Nature's Comfort LLC and Mike's Advanced Heating, LLC are not tax advisors. Taxpayers claiming a tax credit should consult a tax professional with any questions.

Frequently Asked Questions

We encourage you to visit the Hearth, Patio and Barbeque Association (HPBA) website for the latest information and an extensive list of frequently asked questions regarding the tax credit.

 * Nature's Comfort LLC and Mike's Advanced Heating LLC does NOT provide tax advice. Please consult with your tax advisor for eligibility and answers to your specific questions.