Very sad situation for those not getting a credit that was talked up during their purchase at the dealership. High class dealers would keep their customers whole and make up the difference.... I won't hold my breath waiting to hear of it happening!!

 

We haven't done the state taxes yet to know if we are going to get any of the $2650 state deduction, but we are entitled to the entire $2100 federal credit for our HCHII. My wife and I are DINKs with only our mortgage to deduct so we are pretty far away from needing to pay the AMT. My sympothies to anyone who does not qualify...

 

Looks like other tax credits (like the child tax credit) greatly reduce the hybrid credit. So, it appears you can have one or the other. Anybody want a couple of slightly used kids?

 

I'm eligible for 100% but Toyota doesn't make a hybrid Tacoma yet.

 

Eligible for only $1100 of my $1950 tax credit for FEH

 

I just spent some time eailing all of my congress people as well as the president about the so called hybrid tax credit. What a joke! I believe we were all duped into thinking we would get this credit. I have submitted some URL's that clearly state nothing about AMT and the possible reduction of the credit. I have no idea if my efforts are in vein, however I feel our wisely elected need to know of this injustice. The first URL will help you find your congressmen email if you care to voice your concerns.

http://www.congress.org/congressorg/home/

http://www.irs.gov/newsroom/article/...160325,00.html

http://www.irs.gov/newsroom/article/...153172,00.html

http://www.irs.gov/newsroom/article/...164300,00.html

http://www.energy.gov/taxbreaks.htm

http://www.eere.energy.gov/news/pdfs/tax_credits.pdf


http://money.cnn.com/2005/12/21/Auto...ion=2006010310

 

While I agree, as has been argued elsewhere, that the way the credit would be applied was probably available somewhere in the tax code for those willing to dig deep enough, I agree that it's important that our legislators understand the misleading nature of it. One should not have to spend hours searching nor consult a paid professional to get a clear picture of what a 'tax credit' is. While I am frankly not surprised at not receiving any of mine, it was totally unclear as to what I would or would not receive.

Regardless, good work. Let's try to keep this thread specific to what people have actually received however.

 

There is actually a bill in congress to get rid of the the current 15,000 page tax code completely and replace it with something about the size of a pamphlet. I may be naive, but it would be cool to get it passed.

Shameless plug: Moderators, zap me and I'll remove the link if you wish.

www.fairtax.org

But in the process of getting rid of all the other pork, the hybrid credit would get cut too.

 

My accountant figured our taxes yesterday. We get all the credit for the Prius that we had hoped for.

I don't have any huge tax breaks, since my house is paid for, and I'm still a wage slave.

Harry

PS: I did send some emails to politicians a while back, urging the full tax credit for the Prius be restored. Why should Toyota be penalized for being the most successful hybrid car maker?

 

I just figured my taxes and got the whole thing, though it was only the $1575 since I didn't rush to get my Prius earlier in the year.


Maybe. On the other hand, the tax deduction and tax credit were really intended to get the technology started, not sustain it for the long-haul. The phase-out for Toyota is not a penalty so much as a planned result of their hybrid vehicles selling so well.