Welcome Guest. Register Now!  



Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 04-16-2009, 10:43 PM
Samatg's Avatar
Administrator
 
Join Date: Jan 2007
Posts: 291
Post Tax Credit for Ford Hybrids Begins Phase-Out

The tax credit for hybrid passenger automobiles and light trucks manufactured by Ford Motor Company has begun to phase out for purchases made after March 31, 2009.

Taxpayers may claim the full amount of the credit only on purchases made before April 1, 2009, because the total number of vehicles sold reached the 60,000 vehicle threshold in the last quarter of 2008. The cumulative sales of qualified Ford hybrid vehicles sold from the period of Jan. 1, 2006, to Dec. 31, 2008 is 66,157.

For vehicles purchased for use or lease on or after April 1, 2009, and on or before Sept. 30, 2009, the credit is 50 percent of the full amount. For vehicles purchased for use or lease on or after Oct. 1, 2009, and on or before March 31, 2010, the credit is 25 percent of the full amount. For vehicles purchased for use or lease on or after April 1, 2010, no credit is allowable.

The full credit amount for vehicle purchases made prior to April 1, 2009 is:
  • 2005, 2006, 2007 Ford Escape 2WD, $2,600;
  • 2008, 2009 Ford Escape 2WD, $3,000;
  • 2005, 2006, 2007, 2009 Ford Escape 4WD, $1,950;
  • 2008 Ford Escape 4WD, $2,200;
  • 2010 Ford Fusion, $3,400;
  • 2008, 2009 Mercury Mariner 2WD, $3,000;
  • 2006, 2007, 2009 Mercury Mariner 4WD, $1,950;
  • 2008 Mercury Mariner 4WD, $2,200;
  • 2010 Mercury Milan, $3,400
Related link:
  • N-2009-37 - Phase-out of Credit for New Qualified Hybrid Motor Vehicles and New Advanced Lean Burn Technology Motor Vehicles
Source: irs.gov



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
Ads
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

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

vB 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 Thread Starter Forum Replies Last Post
First-Time Homebuyer credit a new tax credit Samatg For 2008 7 05-07-2010 02:44 PM
Purchasers of Honda Hybrids Still Qualify for Tax Credit Samatg Tax News 0 02-21-2007 07:36 PM
Purchasers of GM Hybrids Still Qualify for Tax Credit Samatg Tax News 0 02-08-2007 07:05 PM
Phase-Out Credit for Toyota and Lexus Hybrids Continues Samatg Tax News 0 02-08-2007 07:00 PM
Ford Hybrids Still Qualify for Tax Credit Samatg Tax News 0 02-01-2007 04:28 PM

Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 » Payroll
 
Forum for CPAs
 
Financial Planning
 
 
 

» Recent Tax Q&A
No Threads to Display.