Federal Tax Credits for Heating and Cooling Equipment End December 31, 2013

Krause Heating and Cooling reminds homeowners they have until December 31 to purchase and install qualifying tax credit products.

Duluth, MN (PRWEB) November 26, 2013

Krause Heating and Cooling, a company that provides furnace service in Proctor MN, reminds homeowners that time is running out to purchase and install home heating and cooling products that qualify for federal tax credits. The American Taxpayer Relief Act of 2012 passed in January 2013 and retroactively extends tax credits for homeowners replacing heating and cooling equipment for their primary residence between January 1, 2012 and December 31, 2013.

Heating and cooling products that qualify meet efficiency levels set by the Federal government and are usually designated with the ENERGY STAR® label, however, not all ENERGY STAR® qualified products are eligible. Product purchase must be for a principal residence and be "placed in service" between January 1, 2012 and December 31, 2013. According to the IRS "placed in service" means when the original installation of the product is completed.

With the tax credit, homeowners could save up to $500. To apply, homeowners need to file IRS form 5695 with their 2013 tax return and provide a signed statement from the manufacturer certifying the product qualifies (this can be obtained from the installing dealer).

For more information on the Federal tax credit, go to http://www.irs.gov or contact Krause Heating and Cooling at 218-249-1331, http://www.duluthcarrierdealer.com.

About Krause Heating and Cooling

Krause Heating and Cooling has been serving the Duluth and surrounding areas for over 30 years. A family owned and operated business, Krause is part of the Stay Comfy Minnesota network and offers a broad range of services for both residential and commercial customers with NATE certified technicians, Carrier products and a 100% satisfaction guarantee.

For the original version on PRWeb visit: http://www.prweb.com/releases/2013/11/prweb11365302.htm