At the conclusion of the 113th Congress, lawmakers passed and the President signed into law the Tax Increase Prevention Act of 2014.
Included in this bill were tax credits for making energy efficient improvements to your main home. This created a retroactive opportunity for customers who upgraded their insulation last year (2014) to take a federal tax credit on their 2015 returns. The credit applies to energy efficiency improvements in the building envelope of existing homes. In order for homeowners to qualify for the tax credit the home must be in the United States and serve as the taxpayer’s primary residence.
Owners of existing homes may receive a tax credit worth 10% of the cost of upgrading the efficiency of the building’s envelope including adding additional insulation. Installation (labor) costs are not included and the deduction is capped at $500 for all improvements.
The Department of Energy reports that 80% of homes built before 1980 are under insulated. With the passage of This tax credit, you may now qualify for a 10% tax credit up to $500 by adding insulation to your home.
Download the iRS form HERE.
Tiger Foam™ is not just for attics.
Tiger Foam™ can also be used for insulating exposed pipes; for roofing systems and crawl spaces; to fill interior voids on concrete; for use as an asbestos encapsulant; and many other applications. It also has superior accoustic qualities, and it’s been applied to interior wall cavities to help soundproof home theatre systems. Tiger Foam™ has even supported our troops overseas.
Tiger Foam’s 2-pound two-part closed cell polyurethane foam is supplied in portable kits complete with hose, spray gun, and tips – sized for 200 or 600 board foot spaces.
Recommended R-Value Chart
Use this chart to determine if your home needs an insulation upgrade: