Personal Tax News

Clean Fuel Car Models Eligible For Tax Credit

IRS published the list of hybrid car models that are eligible for various amounts of tax credit. This is good for consumers who have a passion for energy conservation and certainly good for the Big Three in Detriot who are in big trouble.

Full text of the IRS article can be found here.

Model Year 2007

Chevrolet Silverado 2WD Hybrid Pickup Truck — $250
Chevrolet Silverado 4WD Hybrid Pickup Truck — $650
Ford Escape Hybrid 2WD — $2,600
Ford Escape Hybrid 4WD — $1,950
GMC Sierra 2WD Hybrid Pickup Truck — $250
GMC Sierra 4WD Hybrid Pickup Truck — $650
Lexus GS 450h — $775†
Lexus RX 400h 2WD and 4WD— $1,100†
Mercury Mariner 4WD Hybrid — $1,950
Saturn Vue Green Line — $650
Toyota Camry Hybrid — $1,300†
Toyota Prius — $1,575†
Toyota Highlander Hybrid 2WD and 4WD — $1,300†

Model Year 2006

Chevrolet Silverado 2WD Hybrid Pickup Truck — $250
Chevrolet Silverado 4WD Hybrid Pickup Truck — $650
Ford Escape Hybrid (Front) 2WD — $2,600
Ford Escape Hybrid 4WD — $1,950
GMC Sierra 2WD Hybrid Pickup Truck — $250
GMC Sierra 4WD Hybrid Pickup Truck — $650
Honda Accord Hybrid AT w/updated calibration and Navi AT w/updated calibration — $1,300*
Honda Civic Hybrid CVT — $2,100
Honda Insight CVT — $1,450
Lexus RX400h 2WD — $1,100†
Lexus RX400h 4WD — $1,100†
Mercury Mariner Hybrid 4WD — $1,950
Toyota Highlander 2WD Hybrid — $1,300†
Toyota Highlander 4WD Hybrid — $1,300†
Toyota Prius — $1,575†
* 2006 Honda Accord Hybrid AT and Navi AT without updated calibration qualify for a credit of $650.

Model Year 2005

Ford Escape 2 WD Hybrid — $2,600
Ford Escape 4 WD Hybrid — $1,950
Honda Accord Hybrid AT and Navi AT — $650
Honda Civic Hybrid MT and CVT — $1,700
Honda Insight CVT — $1,450
Toyota Prius — $1,575†

† This reflects a decrease in the credit amount as of Oct. 1, 2006, due to the manufacturers meeting quarterly sales of 60,000 qualified hybrid cars — See Quarterly Sales, below.