View Poll Results: How much of the Federal Tax Credit will you receive?
All of it!
74
48.37%
> 80%
7
4.58%
60-80%
7
4.58%
40-60%
13
8.50%
20-40%
12
7.84%
<20%
5
3.27%
Nothing! Nada! Zilch!
35
22.88%
Voters: 153. You may not vote on this poll
Tax Credit Eligibility
#11
Re: Tax Credit Eligibility
Very sad situation for those not getting a credit that was talked up during their purchase at the dealership. High class dealers would keep their customers whole and make up the difference.... I won't hold my breath waiting to hear of it happening!!
#12
We got the whole enchilada
We haven't done the state taxes yet to know if we are going to get any of the $2650 state deduction, but we are entitled to the entire $2100 federal credit for our HCHII. My wife and I are DINKs with only our mortgage to deduct so we are pretty far away from needing to pay the AMT. My sympothies to anyone who does not qualify...
#13
Re: Tax Credit Eligibility
Looks like other tax credits (like the child tax credit) greatly reduce the hybrid credit. So, it appears you can have one or the other. Anybody want a couple of slightly used kids?
#16
Re: Tax Credit Eligibility
I just spent some time eailing all of my congress people as well as the president about the so called hybrid tax credit. What a joke! I believe we were all duped into thinking we would get this credit. I have submitted some URL's that clearly state nothing about AMT and the possible reduction of the credit. I have no idea if my efforts are in vein, however I feel our wisely elected need to know of this injustice. The first URL will help you find your congressmen email if you care to voice your concerns.
http://www.congress.org/congressorg/home/
http://www.irs.gov/newsroom/article/...160325,00.html
http://www.irs.gov/newsroom/article/...153172,00.html
http://www.irs.gov/newsroom/article/...164300,00.html
http://www.energy.gov/taxbreaks.htm
http://www.eere.energy.gov/news/pdfs/tax_credits.pdf
http://money.cnn.com/2005/12/21/Auto...ion=2006010310
http://www.congress.org/congressorg/home/
http://www.irs.gov/newsroom/article/...160325,00.html
http://www.irs.gov/newsroom/article/...153172,00.html
http://www.irs.gov/newsroom/article/...164300,00.html
http://www.energy.gov/taxbreaks.htm
http://www.eere.energy.gov/news/pdfs/tax_credits.pdf
http://money.cnn.com/2005/12/21/Auto...ion=2006010310
#17
Re: Tax Credit Eligibility
While I agree, as has been argued elsewhere, that the way the credit would be applied was probably available somewhere in the tax code for those willing to dig deep enough, I agree that it's important that our legislators understand the misleading nature of it. One should not have to spend hours searching nor consult a paid professional to get a clear picture of what a 'tax credit' is. While I am frankly not surprised at not receiving any of mine, it was totally unclear as to what I would or would not receive.
Regardless, good work. Let's try to keep this thread specific to what people have actually received however.
Regardless, good work. Let's try to keep this thread specific to what people have actually received however.
Last edited by snax; 02-15-2007 at 08:49 PM.
#18
Re: Tax Credit Eligibility
Shameless plug: Moderators, zap me and I'll remove the link if you wish.
www.fairtax.org
But in the process of getting rid of all the other pork, the hybrid credit would get cut too.
#19
Re: Tax Credit Eligibility
My accountant figured our taxes yesterday. We get all the credit for the Prius that we had hoped for.
I don't have any huge tax breaks, since my house is paid for, and I'm still a wage slave.
Harry
PS: I did send some emails to politicians a while back, urging the full tax credit for the Prius be restored. Why should Toyota be penalized for being the most successful hybrid car maker?
I don't have any huge tax breaks, since my house is paid for, and I'm still a wage slave.
Harry
PS: I did send some emails to politicians a while back, urging the full tax credit for the Prius be restored. Why should Toyota be penalized for being the most successful hybrid car maker?
Last edited by Earthling; 02-17-2007 at 10:17 AM. Reason: add PS
#20
Re: Tax Credit Eligibility
I just figured my taxes and got the whole thing, though it was only the $1575 since I didn't rush to get my Prius earlier in the year.
Maybe. On the other hand, the tax deduction and tax credit were really intended to get the technology started, not sustain it for the long-haul. The phase-out for Toyota is not a penalty so much as a planned result of their hybrid vehicles selling so well.
Maybe. On the other hand, the tax deduction and tax credit were really intended to get the technology started, not sustain it for the long-haul. The phase-out for Toyota is not a penalty so much as a planned result of their hybrid vehicles selling so well.