The Internal Revenue Service said that millions of Americans can get $2,000 in tax credits as a form of stimulus check under the Biden administration’s Inflation Reduction Act.
$2,000 Stimulus Check
The Internal Revenue Service says that millions of Americans are unaware that they can get $2,000 in tax credits as a form of stimulus check under the Inflation Reduction Act. This is offered for those who have installed heat pumps at home.
In a published article in The U.S. Sun, the Department of Energy clearly defines the pumps, which use electricity to push heat into the home. Additionally, a heat pump is an appliance meant to replace a fuel-burning furnace.
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More Information About the Stimulus Check
According to a published article in Forbes, the Energy Efficient Home Improvement Credit offers credit for a variety of energy-saving appliances. For heat pumps, it’s worth 30% of the installation cost, up to $2,000 for the year of installation.
Furthermore, this efficiency credit applies as well to the following:
- Exterior doors, windows, skylights and insulation materials
- Central air conditioners, water heaters, furnaces, boilers
- Biomass stoves and boilers
- Home energy audits
Furthermore, any installation must meet certain standards set out by the Department of Energy to qualify.
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