A couple of people have asked me if they can still get a credit for new windows, or a furnace or other things like that. And I shake my head sadly and tell them no, because those credits were not reauthorized with the new tax law in 2018.
But yesterday a client called me back and told me I was wrong, that the credits had been reinstated. And I thought, no they haven’t. There isn’t even a form for it anymore. I went to many many hours of classes for this tax year and we weren’t told that. While we were still on the phone I started googling so could explain to my poor client how wrong she was and why.
And lo and behold… the energy credits were reinstated for 2019. As far as I can tell, it was announced in February of 2020. THIS FEBRUARY! Do you know what I was doing in February? WORKING.
And it gets better… the credits are retroactive for 2018. That’s right… RETROACTIVE LAWS, PEOPLE. While I am really glad those credits are back, because I really believe in encouraging better energy management, I am furious that once again they have changed a regulation AFTER tax season started. That is not the way it is supposed to work.
I know I have already told several people that those credits were not available for 2019. So if your return is already complete I will happily amend 2019 for you if you are eligible for the credit.
And we can amend 2018 as well. I will have to charge a small fee for that, since the credits really really were not available for 2018 until now. But if you are due a credit I will happily help you get it.
Here’s a link with a more detail and some technical talk: IRS 2020-44
And guess what, Elizabeth J.? You are getting a free tax return this year.