Tax Credit

So how does this tax credit thing work?

Answer: It is not a rebate or a deduction. It is a “credit.” That means, according to the IRS, that it changes the amount of tax that you pay. If you pay taxes at the end of the year, you pay less by the amount of the tax credit. If you pay taxes every week via witholding you will get a bigger refund at the end of the year as a result of the tax credit. The credit is 10%, up to $300, of the total spent on qualifying stoves. It no longer includes pipes and installation costs.