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The Energy Policy Act of 2005 (EPACT), signed by President Bush on August 8, 2005, offers consumers and businesses federal tax credits for purchasing fuel-efficient hybrid-electric vehicles and energy-efficient appliances and products. Most of these tax credits remain in effect through 2007.
Consumers who purchased and installed specific products, such as energy-efficient windows, insulation, doors, roofs, and heating and cooling equipment in the home can receive a tax credit of up to $500 for the 2007 tax year.
The Internal Revenue Service (IRS) has provided guidance for consumers: IRS Notice 2006-26 ENERGY STAR is studying IRS guidance. Check the ENERGY STAR Web site at www.ENERGYSTAR.gov frequently for updates.
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