GreenHybrid Interactive Hybrid Car Resource
Home Discuss Articles Compare Share Shop
GreenHybrid.com   Hybrid Car Forums   Tech Information   Mileage & Specs   Photo Gallery   Buying Guide  
GreenHybrid Mileage Database - Click here to track your MPG! Join Hybrid car discussions today - Create a FREE GreenHybrid Account

Go Back   GreenHybrid - Hybrid Cars > Hybrid Cars > Toyota Motor Corporation > Toyota Highlander Hybrid

Reply
 
Thread Tools
  #1 (permalink)  
Old 02-25-2007, 11:15 PM
Enthusiast
 
Hybrids: Highlander
Posts: 26
Default Not Getting Hybrid Credit

TaxCut tells me that I pay $1800 AMT and I am not getting the hybrid credit. It really sucks.
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
  #2 (permalink)  
Old 02-26-2007, 07:28 AM
Active Enthusiast
 
Real Name: Fred
Hybrids: 2006 Toyota Highlander 4WD
Posts: 177
Default Re: Not Getting Hybrid Credit

Sorry to hear that. Hopefully you haven't spent it yet.

It'd be interesting to see a couple of things. 1) How many purchaser's, who can afford the HiHy and RXh, can actually take advantage of the credit. 2) How many can get the credit regardless of which hybrid was purchased.
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
  #3 (permalink)  
Old 02-26-2007, 07:55 PM
me2 me2 is offline
Enthusiast
 
Location: Minnesota
Hybrids: 2006 HiHy Ltd 2WD
Posts: 26
Default Re: Not Getting Hybrid Credit

The weird thing about the tax credit form is that they don't ask for the VIN. Just the make, model and year. It seems to me that many fraudulent returns can be filed, and people will cash the refunds before the feds figure it out. And this will make us legitimate buyers more likely to be audited.
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
  #4 (permalink)  
Old 02-27-2007, 02:26 PM
Active Enthusiast
 
Real Name: Fred
Hybrids: 2006 Toyota Highlander 4WD
Posts: 177
Default Re: Not Getting Hybrid Credit

Quote:
Originally Posted by me2 View Post
The weird thing about the tax credit form is that they don't ask for the VIN. Just the make, model and year. It seems to me that many fraudulent returns can be filed, and people will cash the refunds before the feds figure it out. And this will make us legitimate buyers more likely to be audited.
While they do not ask for the VIN, they do ask for the Date Placed in Service. This is much more important in determining the credit. I don't think the amount of tax revenue lost on the credit will really matter enough to hit people with audits. The more creative way to get the money back will be if (when) a recapture of the credit is put in place for those who didn't keep the vehicle for 3 years.
Then again, every extra car on the road (Hybrid or not) means more consumption of resources (read as more revenue). So either way, there's still an increase in revenue.
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
  #5 (permalink)  
Old 02-28-2007, 04:22 PM
Just Say No, to more oil
 
Real Name: Rod
Hybrids: Toyota Highlander
Posts: 31
Default Re: Not Getting Hybrid Credit

Quote:
Originally Posted by petersun21 View Post
TaxCut tells me that I pay $1800 AMT and I am not getting the hybrid credit. It really sucks.
You need to write your Congressman - I believe the calcs (cost basis) for the AMT hasn't been changed since it was initiated (1970's ?). I got the full credit - but I don't have a lot of "excessive" deductions - which the AMT is based against.

.

Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
Reply

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Similar Threads
Thread Topic Starter Forum Replies Last Post
Details about the Highlander Hybrids Dianne Toyota Highlander Hybrid 10 11-04-2008 10:44 PM
2006 Tax Credit for Hybrids taztrooper Honda Accord Hybrid 11 08-11-2006 07:37 PM
Wisconsin Hybrid Tax credit nixed!! Toxic batteries?? lucyloudaisymae Honda Civic Hybrid 12 05-22-2006 08:36 PM
Comparsion Of Hybrid on Road and Track TMCHAN Journalism & The Media 5 05-22-2006 12:42 PM
3cycl mode martinology Honda Accord Hybrid 9 11-07-2005 06:03 PM


All times are GMT -7. The time now is 11:53 AM.


Home | Hybrid Discussion Forums | Hybrid Articles Archive | Mileage Database | Hybrid Photo Galleries | Compare Vehicles
Terms of Service - Privacy Policy - Advertising
GreenHybrid.com, Copyright 2008
InternetBrands.com Automotive Network

SEO by vBSEO 3.2.0

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52