Federal Energy Tax Credit New Century Window Tinting

ST. LOUIS - March 2, 2009 CPFilms Inc., the world's leading producer of professional window films for automotive, residential,and commercial markets, has announced that its LLumarŽ energy-saving window films now qualify for up to $1500 in federal tax credits in 2010. As a result of the recently enacted American Recovery and Reinvestment Act, the existing tax credit was increased from $500 to $1500 for energy-saving window films during the 2010 calendar year, retroactive to January 1 2009.
Under section 25C of the Internal Revenue Code (I.R.C.), homeowners can now receive a 30 percent credit on the costs of ''qualified energy efficiency improvements,'' including solar control window film on windows, doors, and skylights. This tax credit applies to improvements made to a primary residence from Jan. 1, 2009 through Dec. 31, 2010.
How to Receive the Tax Credit
Consumers who purchase most types of LLumar solar control window film from professional distributors or dealers for residential use from Jan. 1, 2009 to Dec. 31, 2010 are eligible for the revised 2010 tax credit in accordance with the new bill. A maximum lifetime credit of $1500 per taxpayer for eligible home improvements applies. Unlike a tax deduction, which reduces the amount of income subject to tax, a tax credit directly reduces the amount of income tax you have to pay. To receive the tax credit, consumers are required to submit IRS Form 5695 with their 2010 Income Tax Return. Copies of the dealer invoice and the manufacturer's certification statement should be saved. For dditional information about tax credit eligibility, consumers can go to http://windowfilmtaxcredit.com

What is a tax credit? You don't receive an income tax credit when you buy the product, like an instant rebate. You claim the credit on your federal income tax form at the end of the year. The credit then increases the tax refund you receive or decreases the amount you have to pay.

Tax credits vs. tax deductions: In general, a tax credit is more valuable than a similar tax deduction. A tax credit reduces the tax you pay, dollar-for-dollar. Tax deductions - such as those for home mortgages and charitable giving - lower your taxable income. If you are in the highest 35-percent tax bracket, the income tax you pay is reduced by 35 percent of the value of a tax deduction. But a tax credit reduces your federal income tax by 100 percent of the amount of the credit.

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