The Federal Tax Credits Blog

Archive for March, 2009

Question: which water heaters qualify for the 2009 energy tax credit?

other than the tankless water heaters

Answer: Wow, does England have the same credits the USA does?

If this is a USA question, you posted it in the wrong area, but go to www.energystar.gov to get the guidelines.

Coloradans jump at state program to further energy efficiency

More than 26,000 homeowners and businesses have snapped up about $11 million in state rebates for energy-efficient appliances and home improvements since the “Recharge Colorado” program began April 19.

Eccotemp 40H Outdoor Tankless Water Heater

Question: Is it possible to claim credits for previous tax years?

My parents never claimed my tuition expenses on their taxes for the last four years that I attended college. I looked on the IRS website, and found that they could have claimed my tuition payments and received either the lifetime learning credit or the Hope Credit during those years. I am interested in knowing whether they can somehow file a claim for those four years of tuition that I paid (and hopefully I can get some of that money from them). I am planning on claiming the lifetime credit myself for 2006. If anybody knows how to claim for previous years, if it is possible, your help would be greatly appreciated. Thank you.

Answer: To add to Crystal’s reply:

1.You have until April 15th to amend 2003′s return. (3 years from the original due date)

2. The best way to figure out your qualified educational expenses for the years in question is to have the 1098-T your school issued for that particular tax year. If you don’t have them, then you may call the IRS at 1-800-829-1040 and ask that they send them to you.

3. You may find that taking the Lifetime Learning Credit for all three years will be of more benefit than the Hope Credit if your qualified educational expenses were high enough.

4. Be sure to use the right F 8863 for each year you are amending. Previous year forms can be downloaded from http://www.irs.gov.

5. Be sure you’re up on all the rules and you really do qualify. See the link to Pub 970 below.

The Top 10 of ’09

Change seems to be the common denominator for McPherson for 2009. Two colleges changed president, the city changed administrators and the K-61 highway began its massive change of course.

Tax Forms & Deductions : How Does Tuition Tax Credit Work?

Question: I bought super low E windows and thought I would get a tax credit. CPA can’t find anything on it. Can you help?

CPA says she found tax credits for wind, geothermal, and solar additions to the house as a tax credit of up to $300. She can’t find anything on my windows, which cost up about $700 each and I was told I’d get a $300 tax credit for buying and installing them.

Answer: If you bought them in 2008, there is no tax credit. We had one for 2007 and again for 2009, but Congress gave no Energy Credits for 2008.

Your issue is with your salesperson for the windows.

Helen, EA in PA

Nuclear power may see rebirth in U.S.

The 104 nuclear plants now running have sharply raised their capacity, emboldening utilities across the country to make a case for building new ones.

Understanding Geothermal Heating and Cooling with Hydron Module

Question: Are they really going to change the $8,000 tax credit to $15,000?

I have read conflicting things and am just curious if anyone knows of a site that has the facts not just what people want the facts to be.
Thanks!

Answer: There is no website, nor any facts as it is pure speculation.

Donald Macintyre: Will they, won’t they launch a coup?

It’s seven years since the late Roy Jenkins told me that he thought Gordon Brown should be content with having been a “powerful Chancellor” rather than strive to be a “tail end Charlie” Prime Minister. Characteristically he reeled off a list of examples of politicians – Rosebery after Gladstone; Chamberlain after Baldwin; Eden after Churchill; Alec Home after Macmillan; Callaghan after Wilson …

Top 5 Tax Credit Facts.m4v

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5th Place: $1000

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11th to 25th place; $50

26th to 50th place; $25

51st to 100th place; $10

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2009: A Year in Review

•Katy police responded to a string of burglary of motor vehicle cases when at least 15 vehicles were broken into, most of which occurred in the 5300 block of Highway Boulevard.

Honda Civic GX Natural Gas Vehicle Review – Kelley Blue Book