Tax Update Blog: Permalink

« Previous · Tax Update Blog Home · Next »

HYBRID UPDATE

August 08, 2007

The IRS has updated the status of credits for hybrid vehicles.

Ford Hybrids remain fully eligible for the credit (IR 2007-140):

Ford Escape 2WD Hybrid, Model Year 2008 - $3,000
Ford Escape 2WD, Model Years 2005, 2006 and 2007 - $2,600
Ford Escape 4WD Hybrid, Model Year 2008 - $2,200
Ford Escape 4WD, Model Years 2005, 2006 and 2007 - $1,950
Mercury Mariner 4WD Hybrid, Model year 2008 - $2,200
Mercury Mariner 4WD, Model Years 2006 and 2007 - $1,950
Mercury Mariner 2WD Hybrid, Model Year 2008 - $3,000

Toyota hybrid models are still eligible for a reduced credit for vehicles purchased through September 30, 2007 (IR 2007-139):

2007 Prius: $787.50
2007 Highlander: $650.00
2007 Camry: $650
2007 Lexus RX400h: $550
2007 GS450h: $387.50

Remember: the hybrid credit doesn't work for alternative minimum tax.

      Bookmark: del.icio.us • Digg • reddit