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Thread: What a Joke of a Tax Credit
02-11-2007 07:45 AM #1
- Join Date
- Feb 2007
What a Joke of a Tax Credit
Just finished my taxes using one of those Tax programs to find out that I will recieve no Tax credit for my 2006 civic hybrid. I don't recall seeing any limitations to tax credits upon buying my car. I went to the IRS website and saw no stipulation. It appears that the hybrid credit comes after any other credit one may get. For example, a child credit. I found an interesting post titled Hybrid tax credit bait and switch by
Edward F. McQuarrie. Do a search on google and you will be amazed. I thought I researched my purchase well and I feel that us consumers have been mislead about this tax credit. I will look over my taxes manana. Who knows.... Maybe I did it wrong.
04-08-2008 12:40 AM #2
No, its just like the
No, its just like the government come out with something and then make a bunch of legal "mumbo jumbo" to make it were those who do follow the rules get screwed. You know I just came across a article that might interest you. It talks about all the confussion that the IRS has made around this hybrid tax <a herf="http://blog.nationalpayday.com/taxes/hybrid-car-tax-credit-confusion/">credit</a> .
04-09-2008 10:03 AM #3
I'm looking to get a new
I'm looking to get a new Prius in the next week or so, I've just gotten rid of my 2001. My accountant says that I won't qualify for the Fed credit any longer, due to the fact that Toyota has sold 60,000 hybrids. He wants me to get a Civic Hybrid, or even better, a GX natual gas model which has HUGE new tax incentives. Well, I drove both the Civic and Prius today, and I think I'm sticking with the Prius.
Now, here's my tax question: The dealer said that if I crush a 10 year old car and take it off the road, the State of Colorado will double my tax refund, which is currently over $3k. This will carry over for 5 years if I max out my tax breaks for the first year. I've seen some paperwork that seems to support this statement, but I'm not finding any real details. Anyone know if this is true?
Would I need to own the old car first? Or can I buy one later this year and crush it at a salvage yard?
Would they truly double my tax break, or only 'up to' the value of the junker that I took off the road?
Any info, links, etc. would be greatly appreciated.
05-15-2008 11:09 PM #4
Uncle sCam ;-( He can
Uncle sCam ;-(
He can promise the Universe & deliver 000000
07-12-2008 06:56 AM #5
What a darn law made by the
What a darn law made by the gov to ask for any tax on hybrid cars, they are just making as a money makers for them this is really bad.
09-27-2008 07:08 PM #6
- Join Date
- Sep 2008
what? the dealer lying to
what? the dealer lying to you???
they could NEVER do that!!!!
of course, I am being sarcastic.
don't you love it how they say: "come on, you can do this payment, you will probably pay if off early ayways"
so you know what? I did! no car payment on my wife's car!
10-01-2008 05:48 AM #7
- Join Date
- Oct 2008
Yes, they are more or less
Yes, they are more or less tricks about tax evasion.The government knew for certain who is to blamed for this.
10-08-2008 06:49 AM #8
- Join Date
- Oct 2008
Isn't it like this with a
Isn't it like this with a few of the tax laws or whatnot?
06-14-2010 11:10 PM #9
Just got my letter from the
Just got my letter from the IRS that my 2009 Hybrid Vehicle tax credit was limited due to AMT (even though we were not subject to the AMT). So all the letter writing to the congressman and senators did nothing. Nowhere in the tax forms or AMT forms does it explain that the credit may be limited. The credit did come into play when considering the vehicle and determining the breakeven point financially vs. purchasing a cheaper a non-hybrid vehicle.
10-28-2011 06:43 PM #10
Android is a famous and
Android is a famous and rapidly growing name in the world of smartphone operating systems (OS). It is not only the OS that is reason of its fame, but the availability of scores of android application development companies that have been developing cool paid and free Android apps since last few years. It has proved to be a revolution in the smartphone market. And today, just like the Apple Store, Android Market store is well known and have millions of customers who daily download both free and paid versions of games, multimedia apps, business apps, social media apps, weather apps and fun apps - to name a few.