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GM, HONDA HYBRID CREDIT UPDATE

August 30, 2007

The IRS yesterday announced that GM and Honda Hybrids still qualify for the full hybrid car tax credit.

In IR-2007-150, the IRS says GM vehicles qualify for the credit as follows:

* Chevrolet Silverado Hybrid 2WD, Model Years 2006 and 2007: $250
* Chevrolet Silverado Hybrid 4WD, Model Years 2006 and 2007: $650
* GMC Sierra Hybrid 2WD, Model Years 2006 and 2007: $250
* GMC Sierra Hybrid 4WD, Model Years 2006 and 2007: $650
* Saturn Vue Green Line, Model Year 2007: $650
* Saturn Aura Hybrid, Model Year 2007 $1,300

The Honda credits were announced in IR-2007-151:

* Honda Accord Hybrid Model Year 2005: $650
* Honda Accord Hybrid, Model Year 2007: $1,300
* Honda Accord Hybrid Navi Model Year 2007: $1,300
* Honda Civic Hybrid Model Year 2007: $2,100

You can get detailed information on the credit here. Remember, this credit doesn't work for alternative minimum tax.

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