Items Tagged with 'tax credits'

Nearly 1,000 insulation and HVAC contractors, distributors and manufacturers from all 50 states signed a letter that was sent to Capitol Hill on Jan. 29 in support of the 25C homeowner energy efficiency tax credit.

In 2022, the insulation industry worked tirelessly to secure critical improvements to the 25C energy-efficient home improvement tax credit. Thanks to these efforts, the industry succeeded in extending the credit for 10 years, significantly increasing its value and ensuring that it can be utilized by taxpayers annually.

ICAA’s newest infographic is a fact sheet with detailed information about the Federal 45L Tax Credit and includes live links to supporting resources.

The Internal Revenue Service has slowed the payment of refunds to employers for the Employee Retention Credit as the agency struggles to combat what it says are fraudulent and overstated claims for the credit.

Perhaps the biggest change to the insulation industry this year has been the Inflation Reduction Act’s Section 25C tax credit, and all top insulators should know how this will affect their business.

The Insulation Contractors Association of America has released a 25C Insulation Tax Credit Online Calculator, promotional materials and educational resources.

It’s tax time, which means companies nationwide will be getting ready to file their tax returns. As you prepare to meet with your accountant, here are some details to keep in mind.

The Inflation Reduction Act of 2022 reinstated the 25C tax credit for insulation and air sealing through 2022. Until Dec. 31, homeowners may be eligible for a federal tax credit up to $500 or 10% of their purchase of insulation to their main home, whichever is lower.

After years of advocacy by RESNET and its allies on extending and reforming the 45L federal tax credit for energy-efficient homes, Congress has passed, and President Biden has signed into law the Inflation Reduction Act.