A Closer Look at the Furnace Tax Credit

The Furnace Tax Credit is a federal tax credit that most homeowners can take advantage of in order to keep their furnace operating at its peak performance level. Although it was never intended to help those in need of a furnace repair service, the Furnace Tax Credit provides homeowners with an excellent opportunity to have a furnace repair company come to their home or business to perform a furnace tune up or repair. As stated previously, this tax credit was designed to give a homeowner or business owner the opportunity to save money on the monthly expense of a furnace repair. The new tax incentive for furnace tune ups and repairs are provided by the federal government through the Energy Savings Program.

Furnace Tax Credit Update: For the past few years, the Furnace Tax Credit has provided homeowners with an excellent opportunity to get a furnace tune-up done at no cost. However, due to new changes implemented by the Govt. on Jan 1, 2011, this tax credit has now been eliminated for new applications and it will not be available to existing customers. To qualify for this tax benefit, you must obtain a certified copy of the furnace’s annual report from the furnace manufacturer.

Furnace Tax Credit – What is Furnace Tax Credit? You may ask. Basically, this tax incentive is based on the fact that a furnace tune-up is required to prevent any damage or malfunction in the furnace. A furnace that is improperly maintained will have less energy efficiency than one that is properly maintained. A properly maintained furnace will also last longer than one that is not properly maintained.