Many of our vendors have sent us emails about this subject, but this one makes it easier to read than others.  This is courtesy of  Geary PacificAs always please check your tax professional to see if you qualify.

Tax Credit Included in Fiscal Cliff Deal

Among the items contained in the Fiscal Cliff deal, which passed Congress this week and was signed into law by President Obama yesterday, was a resurrection of the 25c tax credit for high efficiency HVAC and water heating equipment. The credit, which had expired at the end of 2011, was extended both retroactively for 2012 and for 2013. There is a lifetime limit of $500 for this credit, meaning if a homeowner has previously claimed the credit (up to $500), they will be ineligible to claim it on their 2012 and 2013 tax returns.

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As had been the case in 2011, homeowners are eligible to claim up to 10% of the cost of installing high efficiency equipment with the total dollar amount capped depending on the product installed. For example, the maximum amount a homeowner could claim for a qualified air conditioner, heat pump or hot water heater is $300, with a cap of $150 for qualified furnaces and hot water boilers and a $50 limit for an advanced main circulating fan.

Qualifying Efficiency Levels for the credit are as follows:


  • Central A/C (Split System): 16 SEER & 13 EER or higher
  • Central A/C (Package System): 14 SEER & 12EER or higher
  • Heat Pump (Split System): 15 SEER/12.5 EER/8.5 HSPF or higher
  • Heat Pump (Package System): 14 SEER/12 EER/8.0 HSPF or higher
  • Boilers (Natural Gas/Oil/Propane): 95% AFUE
  • Furnaces (Natural Gas/ Oil/Propane): 95 % AFUE
  • Advanced Main Circulating Fan: If the fan uses less than 2% of the furnaces (Natural Gas/ Oil/Propane) total energy


R22 Rulemaking now at OMB 

Congress and the President weren't the only people busy in Washington on New Year's as the Office of Management & Budget (OMB) officially accepted the EPA's R-22 allocation rule. OMB will now begin the process of assessing the rule which must be done before the EPA can publish its Final Ruling. Because we are now after the 1st of the year, manufacturers and producers are unable to produce or import R-22 until the rule is finalized or a non-enforcement letter is issued by the EPA.


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