Tax credit cut off?
#11
06-02-2006, 08:20 PM
Re: Tax credit cut off?
I can tell you definitively not to worry.
I contacted Honda in Torrance and they assured me that they have until the end of 2006 to submit the paperwork. Remember, you can't file taxes until 2007 for 2006 (and typically in February or afterwards as banks, investment funds, and your employers only have to send out tax related documents by January 31, 2007).
Honda won't produce enough cars this year to sell 60K cars; once they do, the quarter following that quarter will get 100% credit.
The IRS still has not set the credit for the 2006 Civic and cannot until Honda finishes their submission.
Here is the edited copy of the internal email they kindly forwarded to me regarding this (I finally spoke to them on the phone before they could get back to me). I removed names and emails as well as my personal information from the email [Brackets appear around any changes or notes]:
I contacted Honda in Torrance and they assured me that they have until the end of 2006 to submit the paperwork. Remember, you can't file taxes until 2007 for 2006 (and typically in February or afterwards as banks, investment funds, and your employers only have to send out tax related documents by January 31, 2007).
Honda won't produce enough cars this year to sell 60K cars; once they do, the quarter following that quarter will get 100% credit.
The IRS still has not set the credit for the 2006 Civic and cannot until Honda finishes their submission.
Here is the edited copy of the internal email they kindly forwarded to me regarding this (I finally spoke to them on the phone before they could get back to me). I removed names and emails as well as my personal information from the email [Brackets appear around any changes or notes]:
[Honda Employee 3]
04/26/2006 04:13 PM
To: [Honda Employee 1]/AHM/AM/HONDA@HONDAAM
cc: (bcc: [Honda Employee 4]/AHM/AM/HONDA)
Subject: Honda customer asking about hybrid tax credits.
[Honda Employee 1],
I received a forwarded voicemail from a customer, who has been passed around a couple of times, but never to ACS. He is on a waiting list to purchase a '06 Civic Hybrid, and he is counting on being able to take advantage of the IRS tax deduction on hybrids (http://www.irs.gov/newsroom/article/0,,id=107766,00.html). The only problem is that the 2006 Civic Hybrid is not yet listed on the IRS website as being eligible for the credit. He is calling to get some reassurance that he will be eligible for the credit, if he purchases the '06 Civic Hybrid.
From what I know, the '06 Civic Hybrid will be eligible for the credit once the IRS and PRO finish some pending paperwork. The answer to give the customer is that we do anticipate that it will be listed soon. The IRS has given manufacturers until the end of 2006 to complete the process of eligibility, and we are working with them currently. Having come from ACS, I'd guess that your people don't know what to say when asked this question. [Honda Employee 2] at PRO may be a good source for the best info to tell a customer.
The customer is Mike [last name removed] and his number is [phone number removed]. By the phone number, he is in Smithtown NY [actually it was my cell phone so it is where the switch is, not where I live] or around zip 11787 [Actually that is the cell phone again]. He claimed in his message to be an Acura TSX owner [Actually Acura TL Type S Leasee] and a major Honda supporter [all true
].
Can you make sure that someone calls him some time this week? Also, if we can somehow find out who referred him to PR, that would be a nice bit of information to help with our internal education efforts.
Thanks!
[Honda Employee 3]
Honda Public Relations
American Honda Motor Co., Inc.
04/26/2006 04:13 PM
To: [Honda Employee 1]/AHM/AM/HONDA@HONDAAM
cc: (bcc: [Honda Employee 4]/AHM/AM/HONDA)
Subject: Honda customer asking about hybrid tax credits.
[Honda Employee 1],
I received a forwarded voicemail from a customer, who has been passed around a couple of times, but never to ACS. He is on a waiting list to purchase a '06 Civic Hybrid, and he is counting on being able to take advantage of the IRS tax deduction on hybrids (http://www.irs.gov/newsroom/article/0,,id=107766,00.html). The only problem is that the 2006 Civic Hybrid is not yet listed on the IRS website as being eligible for the credit. He is calling to get some reassurance that he will be eligible for the credit, if he purchases the '06 Civic Hybrid.
From what I know, the '06 Civic Hybrid will be eligible for the credit once the IRS and PRO finish some pending paperwork. The answer to give the customer is that we do anticipate that it will be listed soon. The IRS has given manufacturers until the end of 2006 to complete the process of eligibility, and we are working with them currently. Having come from ACS, I'd guess that your people don't know what to say when asked this question. [Honda Employee 2] at PRO may be a good source for the best info to tell a customer.
The customer is Mike [last name removed] and his number is [phone number removed]. By the phone number, he is in Smithtown NY [actually it was my cell phone so it is where the switch is, not where I live] or around zip 11787 [Actually that is the cell phone again]. He claimed in his message to be an Acura TSX owner [Actually Acura TL Type S Leasee] and a major Honda supporter [all true
]. Can you make sure that someone calls him some time this week? Also, if we can somehow find out who referred him to PR, that would be a nice bit of information to help with our internal education efforts.
Thanks!
[Honda Employee 3]
Honda Public Relations
American Honda Motor Co., Inc.
#12
06-03-2006, 06:06 AM
Re: Tax credit cut off?
mickster and all, here is a link to the June 1st post from the IRS on the Honda's. The Civic is one of seven models that qualifies for the credit.
http://www.irs.gov/newsroom/article/...157863,00.html
Mark
http://www.irs.gov/newsroom/article/...157863,00.html
Mark
#13
06-03-2006, 11:07 AM
Re: Tax credit cut off?
Originally Posted by Meggert
mickster and all, here is a link to the June 1st post from the IRS on the Honda's. The Civic is one of seven models that qualifies for the credit.
http://www.irs.gov/newsroom/article/...157863,00.html
Mark
http://www.irs.gov/newsroom/article/...157863,00.html
Mark
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