The fiscal cliff bill will extend the energy efficient tax credit for 2012-2013. This is good news for homeowners who have installed new windows and doors on their home in 2012 or are planning to do so in 2013. The tax credits have been reinstated at the 2011 level of up to 10% of the cost of the building products with a maximum deduction of $500. The maximum credit for windows is $200. If you have taken the tax credit in previous years to the maximum, you will not be eligible. Contact your tax advisor for details or use form 5695 when filing your taxes.
