Thank you to everyone who reached out to their Senators in the last 24 hours. The biomass stove tax credit was passed by Congress earlier today, December 19, 2019. The President is expected to sign the bill tomorrow, which contains over 1,500 pages of funding measures.
So, time to get promoting!
What products qualify?
- Anything that qualified for the credit in the past would qualify again. The credit was extended using the same language used for years: must be at least 75 percent efficient.
- It covers qualifying products purchased since the credit expired, December 31, 2017, and until the current credit expires on December 31, 2020.
- Remember, this is a retroactive extension, too. If someone purchased a qualifying product in 2018, they could file an amended return. If someone purchased a qualifying product in 2019, including in the next couple weeks, it could be claimed on their 2019 return.