Energy Savings Tax Plan in 2011

FOR IMMEDIATE RELEASE

DIRECT SOURCE LLC.

OUTLINES THE 2011 TAX CREDIT PLAN

Metairie, Louisiana (January 7, 2001)---The United States tax credit was amended and extended through December 31, 2011 by the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010.  As of January 1, 2011 several characteristics of this credit will change from their current form.  Most significantly, the cap will be reduced from $1,500 to $500.  The cap is on the total amount of credits a homeowner may claim between 2006 and 2011, not just for 2011.  If a homeowner has already claimed $500 or more in credit through this allowance, they will be unable to claim new credits for improvements made during 2011.

The newly enacted American Recovery and Reinvestment Act of 2010, or the Stimulus Bill, has officially been extended into 2011, with stipulations.  The bill offers homeowners incentives for improving their home's energy efficiency.  For 2011, the tax credit for qualified energy efficiency improvements will cover up to 10% of the total cost of replacement windows, up to a total of $500 ($200 maximum for windows alone, $500 for energy efficient windows and doors).  For example, if you purchase $5000 worth of up-graded glass windows, you may get the maximum 10% tax credit of $500---making the real cost of your window only $4,500.  This is an aggregate tax credit from 2006-2011, meaning any homeowner who has already received credit on energy efficient home improvements and appliances is not eligible for the 2011 credit.

Make sure to purchase qualifying windows:

Save your receipt and the NFRC/ENERGY STAR label with your tax documents

Have your window installed between January 1, 2011----December 31, 2011.

Claim the tax credit on your federal filing for the 2011 tax year.

Visit the ENERGY STAR website for more information.

###