Tax Credits for Insulation Expire Dec 31, 2020
The Federal Tax Credits available to homeowners and builders for insulation improvements expire for good December 31, 2020. Although congress has extended the program at the eleventh hour for the past several years no action was taken to do so for 2021.
There may still be time in the next few waning days for procrastinators, or more likely those that have potential projects in the works, to qualify. CIMA can provide referrals to insulation contractors knowledgeable about cellulose insulation.
For those that have or do get their insulation improvements completed by year-end, be sure to follow through and claim the deduction on 2020 income tax returns. Learn more here.
The Cellulose Insulation Manufacturers Association staff and members will be in Washington, DC next year visiting congress to continue advocating for tax incentives and other federal programs to help encourage insulation improvements. Homes in general, and especially older ones, are a major source of greenhouse gas emissions that contribute to climate change. Insulation in homes, and particularly blown-in cellulose upgrades to exterior walls, are the best investments congress and homeowners can make to reduce energy consumption and global warming impacts.