IRS Regulations
Commercial Buildings
Friday, June 2, the Treasury Department and the Internal Revenue Service (IRS) released a "Guidance Notice" for claiming tax incentives for energy efficient improvements to commercial buildings. This information is summarized on the TIAP Commercial Buildings page.
The new Treasury and IRS tax credit guidance can be accessed as follows:
TIAP is also making available the full text of the new IRS Guidance Notice. This is available for download as a PDF file:
- Notice 2006-52, Deduction for Energy Efficient Commercial Buildings
Please check the TIAP web site for future updates and the latest information on the energy efficiency tax incentives.
Residential Guidance
On Tuesday, February 21, the Treasury Department and the Internal Revenue Service (IRS) released the long-awaited “Guidance Notices” on claiming tax incentives for energy efficiency improvements to existing homes, new energy efficient home construction and new energy efficient manufactured housing.
Each of these tax credit opportunities are discussed on the TIAP web site based on what was included in the Energy Policy Act of 2005. However, the publication of the IRS guidance provides specific information that taxpayers, home builders and housing manufacturers can rely on to take action to claim the tax credits. TIAP will study these new IRS publications and update the other related material on our web site as necessary.
The new Treasury and IRS tax credit guidance can be accessed as follows:
- For existing residential retrofit measures (“Nonbusiness energy property”) see: http://www.irs.gov/newsroom/article/0,,id=154657,00.html
- For energy efficient new home construction and manufactured housing, see: http://www.irs.gov/newsroom/article/0,,id=154658,00.html
TIAP is also making available the full text of the new IRS Guidance Notices. These are available for downloading (PDF format) as follows:
- Notice 2006-26, Credit for Nonbusiness Energy Property
- Notice 2006-27, Certification of Energy Efficient Home Credit
- Notice 2006-28, Energy Efficient Home Credit, Manufactured Homes
Please check the TIAP web site for future updates and the latest information on the energy efficiency tax incentives.
Passenger Vehicles
On January 13, 2006, the IRS released a "Guidance Notice" on tax credits for light-duty hybrid and diesel vehicles (http://www.irs.gov/pub/irs-drop/n-06-09.pdf). To date, the IRS has released notices acknowledging that some Honda, Toyota, Lexus, Ford and Mercury vehicles have been certified for tax credits. For information on which models are eligible and the amount of credit available, see www.aceee.org/transportation/hybtaxcred.htm. IRS is expected to issue further guidance on these credits.
Each of these tax credit opportunities are discussed on the TIAP web site based on what was included in the Energy Policy Act of 2005. However, the publication of the IRS guidance provides specific information that taxpayers, home builders and housing manufacturers can rely on to take action to claim the tax credits. TIAP will study these new IRS publications and update the other related material on our web site as necessary.
The new Treasury and IRS tax credit guidance can be accessed as follows:
TIAP is also making available the full text of the new IRS Guidance Notices. These are available for downloading (PDF format) as follows:
- Notice 2006-9, Credit for New Qualified Alternative Motor Vehicles (Advanced Lean Burn Technology Motor Vehicles and Qualified Hybrid Motor Vehicles)
Please check the TIAP Passenger Vehicle web site for future updates and the latest information on the energy efficiency tax incentives. For more information on specific vehicles and incentive amounts, see www.aceee.org/transportation/hybtaxcred.htm.
