Federal Tax Credits Currently Not Renewed for 2012

Federal tax credits on qualifying, high-efficiency HVAC & Water Heating equipment by the Tax Relief, Unemployment Insurance Re-authorization, and Job Creation Act of 2010 expired on December 31, 2011 and have not been renewed for 2012. Although a renewal of this program remains possible, the legislation has not been passed and therefore, credits are not eligible for any residential energy products sold in 2012. The only exception is that:

Geothermal system tax credits and solar water heaters are unaffected by these changes and remain in place through 12/31/2016.

Note: State, Local and Utility rebates may still be available in your respective markets for residential energy products installed in 2012. Please visit the "Homeowner Resource Center" for a list of energy efficiency tax credits by State.

See below for Federal tax credit information for products purchased in 2011

Federal tax credits on qualifying, high-efficiency HVAC & Water Heating equipment have been modified and extended through December 31, 2011 by the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010. This program differs from the program effective in 2009-2010 in the following ways:

• The maximum amount an eligible homeowner may receive in tax credits for purchasing qualifying products, whether those purchases are in the form of upgraded insulation, windows, HVAC equipment or other eligible improvements, will be reduced from $1,500 to $500 (with a maximum per-category amount as listed in the table below).
• The $500 cap is reduced by the total amount of residential energy property credits a homeowner has claimed for purchases between 2006 and 2010. If you have already claimed credits of $500 or more from improvements made prior to 2011, you will be unable to claim new credits for improvements made during 2011.
• All furnaces and boilers, whether natural gas, propane or oil, must have an AFUE of 95 or above to be eligible for the credit.
• The credit is no longer 30% of qualified residential energy property costs (including labor), but is now equal to an amount not to exceed:

NOTE: Geothermal system tax credits and solar water heaters are unaffected by these changes and remain in place through 12/31/2016.

IMPORTANT: This information is provided to assist in identifying applicable tax credits on Rheem products, and should not be considered tax advice. Consult your tax professional to review your particular circumstances.