LOL, the political conspiracy comes out (I won't say which party). I'm not looking forward to April 15 and the Lexus owners.....

 

Well, thank God that it really did happen.....I was just about at the point of never showing my face around this web site again...I am thankful that Ford was telling the truth and not leading us all on...I also kept checking the IRS website and ....nothing until now! Now if someone could just tell me if it is going to be part of my refund or not.....My mom, who bought a Prius in January, keeps telling me it will be added to your refund check...anyone else with a different picture?

 

The credit gets added to your withholding from your paycheck. That all gets applied toward the income taxes you owe.

If there isn't enough money to pay off your income taxes, you will have to write a check to the IRS. If there was too much money, then the IRS will write you a refund check.

 

That's only about half right. The credit is non-refundable. Don't count on a refund check until you actually have your taxes done. Here's an example with made up numbers:

Taxpayer #1
Gross Pay: 60,000
Tax liability: 6,000
Credit: 2,600
Withholding: 6,000

Refund: 2,600


Taxpayer #2
Gross Pay: 20,000
Tax liability: 1,000
Credit: 2,600
Withholding: 500

Refund: 500

 

Yea, you are right. Your tax liability has to be at least the hybrid credit.

For me, that is always true.