The Federal Tax Credits Blog

Posts Tagged ‘ptc’

Question: Do you support/oppose a re-authorization of the Patriot Act?? (currently included in Dems “jobs” bill)?

Several key Democrats say there is no deal on an $80 billion jobs bill — even as Majority Leader Harry Reid has been pushing for quick action in the Senate ahead of a snowstorm that has largely shut down Capitol Hill………………A draft of the roughly $80 billion bill, obtained by POLITICO, has a wide range of tax credits and job creation ideas, but it also includes provisions unrelated to jobs, including a reauthorization of the Patriot Act, infusion of new money to the Highway Trust Fund and extension of the so-called doc fix.

http://www.politico.com/news/stories/0210/32744.html

Answer: Personally no.

I believe it to be unconstitutional and a threat to my personal privacy.

Senate eyes big oil tax breaks

share: digg facebook twitter WASHINGTON — Both political parties sought to capitalize on populist anger at surging gasoline prices Tuesday, as Senate Democrats unveiled a plan to slash a suite of tax deductions for the nation’s five biggest oil companies and Republicans pushed legislation to speed up offshore drilling. The Senate launched debate on the Democrats’ proposal to raise $21 billion …

Rep. Pascrell speaks on the UNEMPLOYMENT COMPENSATION EXTENSION ACT OF 2009 – November 5, 2009

Remarks by the President in a Town Hall Discussion on Energy in Fairless Hills, Pennsylvania

Release Time:  For Immediate Release Location:  Gamesa Technology Corporation, Fairless Hills, Pennsylvania 2:04 P.M. EDT      THE PRESIDENT:  Thank you so much.  Everybody, please have a seat, have a seat.   Hello, Fairless Hills!  Hello, Gamesa!  It is good to be here.  I was here three years ago.  I was then a candidate — how many folks were here at the time?  Anybody remember?  (Applause …

NETSCORE21 v7 | Policy & Incentive Design

WesternZagros Announces 2010 First Quarter Results

CALGARY, ALBERTA–(Marketwire – May 27, 2010) – N

Oilsands Lawsuit: Chipewyan Prairie Dene First Nation

Senate passes $15 billion bill to spur employment

Senators approved a $15 billion job-creation bill on Wednesday, which would give businesses tax breaks for hiring the unemployed and states more money for infrastructure projects.

The Candidates 2008: Bill Richardson | Tax Policy

Consumer Energy Tax Incentives What the Economic Stabilization Bill Means to You The recently passed Emergency Economic Stabilization Act of 2008 (P.L. 110-343) included, extended and/or amended many consumer tax incentives originally introduced in the Energy Policy Act of 2005 (EPACT).

The bill also included tax incentives for businesses, utilities, and government. For a complete summary of the tax incentives included in the bill, read the summary of Energy Tax Incentives in The Emergency Economic Stabilization Act of 2008. About Tax Credits A tax credit is generally more valuable than an equivalent tax deduction because a tax credit reduces tax dollar-for-dollar, while a deduction only removes a percentage of the tax that is owed. Consumers can itemize purchases on their federal income tax form, which will lower the total amount of tax they owe the government.

Fuel-efficient vehicles and energy-efficient appliances and products provide many benefits such as better gas mileage – meaning lower gasoline costs, fewer emissions, lower energy bills, increased indoor comfort, and reduced air pollution. In addition to federal tax incentives, some consumers will also be eligible for utility or state rebates, as well as state tax incentives for energy-efficient homes, vehicles and equipment.

Each state’s energy office web site may have more information on specific state tax information. Below is a summary of many of the tax credits available to consumers. Please see the ENERGY STAR®’s Federal Tax Credits for Energy Efficiency for complete details.

Home Energy Efficiency Improvement Tax Credits Consumers who purchase and install specific products, such as energy-efficient windows, insulation, doors, roofs, and heating and cooling equipment in the home can receive a tax credit of up to $500 for improvements “placed in service” starting January 1, 2009 through December 31, 2009.

The ENERGY STAR® website has a complete summary of energy efficiency tax credits available to consumers. Residential Renewable Energy Tax Credits Consumers who install solar electric systems can receive a 30% tax credit for systems placed in service from January 1, 2006 through December 31, 2016; the previous tax credit cap of $2,000 no longer applies.

In addition, consumers who install small wind systems can receive a tax credit up to $4,000. Geothermal heat pumps also qualify for tax credits up to $2,000. Automobile Tax Credits Individuals and businesses who buy or lease a new hybrid gas-electric car or truck are eligible for an income tax credit for vehicles “placed in service” after January 1, 2006 and purchased on or before December 31, 2010. The amount of the credit depends on the fuel economy, the weight of the vehicle, and whether the tax credit has been or is being phased out. Hybrid vehicles that use less gasoline than the average vehicle of similar weight and that meet an emissions standard qualify for the credit.

There is a similar credit for alternative-fuel, diesel, and fuel-cell vehicles. This tax credit will be phased out for each manufacturer once that company has sold 60,000 eligible vehicles. At that point, the tax credit for each company’s vehicles will be gradually reduced over the course of another year. Read the IRS’s Summary of the Credit for Qualified Hybrid Vehicles for information on the status of specific vehicle eligibility.

If individuals and businesses buy more than one vehicle, they are eligible to receive a tax credit for each. If a tax-exempt organization buys such a vehicle, the retailer is also eligible to receive another credit.

Companies that buy heavy-duty hybrid trucks are also eligible for a larger tax credit. Consumers who purchase plug-in electric drive vehicles can also receive a tax credit. The credit for passenger vehicles and light trucks ranges from $2,500 to $7,500 based on the tax code formula.

Taxpayers may claim the full amount of the allowable credit up to the end of the first calendar quarter after the quarter in which the total number of qualified plug-in electric drive vehicles sold in the U.S. exceeds 250,000. * Source: ENERGYSTAR.gov ** The IRS will determine final tax credit amounts. As more information becomes available, it will be posted on our web site. Original article from: http://www.energy.gov/taxbreaks.htm

Walmart, others make money on Oregon’s energy tax credits

Out of state corporations, such as Walmart and Costco, buy Oregon’s clean energy tax credits at a discount and make a profit.

Sci-Tech Today: Tax credits and nanotech to make solar energy more affordable