IRS and Treasury Provide Guidance for Energy-Related Tax Credits

Treasury and IRS Provide Guidance for Energy Credits for Homeowners

IR-2006-34, Feb. 21, 2006
Washington — The Treasury Department and the IRS today have issued guidance (Notice 2006-26) on the certification that homeowners may rely on when they claim credits for purchases that make their homes more efficient.During 2006, individuals can make energy-conscious purchases that will provide tax benefits when filling out their tax returns next year. The credit will also be available for purchases in 2007. Manufacturers offering energy efficient items such as insulation or storm windows can assure their customers that their energy efficient items will qualify for the tax credit if certain energy efficiency requirements are met.

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Treasury and IRS Issue Guidance for Coal Project Credit and Gasification Project Credit

IR-2006-33, Feb. 21, 2006
Washington — The Treasury Department and the IRS today issued guidance for two credits created by the Energy Policy Act of 2005 – the advanced coal project credit and the gasification project credit. Each credit will be allocated by the IRS among applicants certified by the Department of Energy (DOE).

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Treasury and IRS Provide Guidance on Energy Credit To Home Builders

IR-2006-32, Feb 21, 2006
Washington — The Internal Revenue Service today provided guidance regarding the energy efficient homes credit available under the Energy Policy Act of 2005. Under the new provision, an eligible contractor who constructs a qualified new energy efficient home may qualify for a credit of up to $2,000. The credit is available for all new homes, including manufactured homes constructed in accordance with the Federal Manufactured Homes Construction and Safety Standards.

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