http://www.kvue.com/news/local/stori....2baa1c59.html

 

Maybe we can use it to get the local dealer to stop jacking up the price over MSRP.

Bob Wilson

 

With long waiting lists for most hybrids, was the rebate ever really necessary? Happily the hybrid seems to be able to stand on it's own in the market. If only supply could keep up with demand, then the MSRP+ pricing would disappear.

 

It's comforting to know that the Bush Administration's $25,000 tax deduction on gas guzzling hulks will NEVER expire. Geez! Lemme go git a $75,000 Caddilac Escalade that pollutes to high heaven and gets 7 MPG in rush hour traffic.

 

I think this obscene giveaway expires in October 2007. Doesn't mean it won't get extended. Seems it originated in 1997, well before Bush started screwing things up. Unfortunately $25,000 is a minimum, much more can be had with bonus depreciations.

http://www.ucsusa.org/clean_vehicles...e-credits.html

 

The "long Prius/Civic queue" arguement is not all that strong - there are other hybrids and we have discussed in depth about writers stressing the hybrid premium. Hybrid tax rebates should be increased to encourage Detroit to get in this market. It would also be a good idea for clean diesels.

Anyone notice that jumbo SUVs like the Escalade came out in the late 1990's when that big tax write off went into effect? Tax incentives work - just pick a different set of wheels! Yes, that was during the Clinton administration, environmental neglect is bi-partisan.

 

This is a related, but probably stupid question... How do I claim the tax credit for my 2006 Civic Hybrid? I read an article today that the Prius has already reached the 60,000 limit and that after Sept, buyers will only get 50% of the credit. Do I need to file something NOW, or am I going to have to show proof of purchase date when I file my 2006 taxes next April?

 

Sorry, this type of fairly ignorant post drives me crazy. It is not a "Bush Administration" gaz guzzler tax deduction. It came to pass in the Clinton/Gore Administration, and in fact its been the Bush Administration that's been a strong proponent of hybrid tax credits in the first place--they are located in the National Energy Policy Act, passed in 2005.

Joe, good question--if it works like other tax credits, I believe you just claim it, and if you are ever audited, you'll have to prove when you purchased it.

 

Here is the IRS page about how (and how much) credit to claim.

http://www.irs.gov/newsroom/article/...157557,00.html

Relevant part:

Form 8910, Alternative Motor Vehicle Credit, is used to claim the qualified hybrid vehicle credit as well as for vehicles qualifying for other provisions of the alternative motor vehicle credit.

If the qualifying hybrid vehicle is purchased for business use, the credit for the business use of a qualifying hybrid vehicle is reported on Form 3800, General Business Credit.

For qualifying hybrid vehicles acquired for personal use, the credit is reported on the appropriate line of the taxpayer’s Form 1040, U.S. Individual Income Tax Return.

For additional information on the proper reporting of the alternative motor vehicle credit, see the instructions to Form 8910 on page two of the form.

The new qualified hybrid motor vehicle credit begins to phase out in the second calendar quarter after the calendar quarter in which at least 60,000 of the manufacturer’s qualifying passenger automobiles and light trucks have been sold. Additional announcements are anticipated regarding the phase-out dates for all of a manufacturer’s qualified vehicles and will be posted to this site.

 

That $25k tax credit was really a loophole being taken advantage of by business people who like saving money on taxes. I recall it was supposed to be for people who really needed utility vehicles. When the tax law was added, only true utility vehicles were so heavy that they qualified.