Tax Breaks for Hybrid Cars

Resources for finding the current and past tax breaks for hybrid cars in federal level.

IRS Alternative Motor Vehicle Credit
www.irs.gov/newsroom/article/0,,id=157632,00.html

This is the official resource for tax deductions recognized by the IRS, based on legislation such as the Energy Policy Act of 2005.

With the resource, you are able to quickly find out the qualifed cars and credit amounts, as well as rules for being able to make the deductions described.

Fuel Economy Guide - New Energy Tax Credit for Hybrids
www.fueleconomy.gov/Feg/tax_hybrid.shtml

This is another governmental resource for figuring out the tax deductions available for available hybrid cars.

As described by the website, hybrids that have been purchased or placed into service after December 31, 2005 may be eligible for a federal income tax credit of up to $3,400.

The deductions have phase out period, which is described for each of the available hybrid car models.

U.S. Department of Energy - Tax Breaks Summary
www.energy.gov/taxbreaks.htm

This resource from the USDOE provides a discussion and explanation of the many automobile tax credits that are available.

In addition to vehicle tax credits, the discussion also extends to home energy tax deductions and other fields that are under the agency's area of expertise.


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