Click On the links below to view documents for information about available credits.

Want to know more about how to obtain the alternative fuel credit for propane used in forklifts?  Then click here to see a Treasury Department letter to an OPGA member describing in detail who is entitled to the refund as well as related material.

Energy Policy Act of 2005 Tax Credits

The Energy Policy Act of 2005 (Public Law 109-58) provides Federal income tax credits to promote energy conservation and the use of alternative fuels. 

HOUSING

In late February 2006, the Internal Revenue Service (IRS) issued three guidance documents relating to the Energy Policy Act tax credits for residences.

Notice 2006-26, Existing Home Credits
   Summary of 2006-26.  Explains the credits and procedures for manufacturers and homeowners of existing housing.
   IRS Notice 2006-26. The actual IRS notice.

Notice 2006-27, New Home Credits
   Summary of 2006-27.  Explains the process under which a contractor may receive a tax credit for constructing a new energy-efficient house.
   IRS Notice 2006-27.  The actual IRS notice.

Notice 2006-28, Manufactured Housing Credits
   Summary of 2006-28.  Explains the process under which a contractor may receive a tax credit for constructing a new energy-efficient manufactured home.
   IRS Notice 2006-28.  The actual IRS notice.

ALTERNATIVE FUELS

In late May 2006, the IRS issued a guidance document about the alternative fuel credit for motor vehicles.  In late September 2006, the IRS issued the guidance document on the alternative fuel credits.  In early May 2007, the IRS issued their notice for the infrastructure tax credit.

Notice 2006-54, New Qualified Alternative Fueled Motor Vehicle Credit. 
   Summary of 2006-54.  Explains the process to qualify vehicles for the alt fuel vehicle tax credit and which kinds of vehicles are eligible.
   IRS Notice 2006-54.  The actual IRS notice.

Notice 2006-92, Alternative Fuel, Alternative Fuel Mixture Credit.
   Summary of 2006-92.  Provides guidance on the alternative fuel excise tax and the credit, and includes details regarding the mechanics for filing to claim the credit.
   IRS Notice 2006-92.  The actual IRS notice.
   Forklift Operators Tax Credit.  This handy NPGA document describes the tax credits available to propane forklift operators and how to obtain them.

Notice 2007-43, Alternative Fuel Vehicle Refueling Property Credit
   Summary of 2007-43.  Summary of the IRS interim guidance for the tax credit for alternative fuel vehicle refueling property, more commonly known as the infrastructure refueling tax credit.
   IRS Notice 2007-43.  The actual IRS notice.  IRS Form 8911 is available via the link.
   

Other Documents and Links

Tax Credit Eligible Equipment: Gas- and Oil-Fired Furnaces 95% AFUE or Greater  http://www.npga.org/i4a/pages/index.cfm?pageid=1187
This GAMA publication lists the manufacturer of propane gas furnaces which are eligible for the tax credit.  The furnaces must have been purchased between Jan. 1, 2006 and Dec. 31, 2007 to be used for the credit. 

Energy-Efficiency Home and Vehicle Tax Credits - Last year's energy bill contained many tax credits that consumers and businesses can use to lower their heating bill and 2006 Federal tax bite.  This pages available via the link list in an easy-to-read format the many tax benefits available to consumers. http://www.ase.org/content/article/detail/2654

Energy Tax Incentives -- Energytaxincentives.org is another public policy Website that describes the tax incentives found in the 2005 energy act.