IRS Confirms Eligibility for 2007 Honda Hybrid, Natural Gas Vehicles
Customers who purchase a new2007 Honda hybrid or natural gas vehicle may be eligible for federal taxcredits ranging from $1,300 to $4,000 when they file their tax returns for the year in which it was purchased, American Honda Motor Co., Inc., announced today.
The announcement is the result of a ruling by the Internal Revenue Service (IRS), which calculated the tax credits based on the Energy Policy Act of 2005 passed by Congress last year.
Honda's 2007 Civic Hybrid, Civic GX and Accord Hybrid are all eligible for the federal government's tax credits.
Additionally, buyers of the natural gas vehicle home refuelingappliance named "Phill" are also eligible for up to a $1,000 tax credit. Phill allows consumers to refuel their natural gas Civic GX from home at amuch lower fuel cost than gasoline.
Various limitations to the credit may apply, depending on the specificcircumstances of the customer, and Honda is encouraging customers tocontact the IRS or a tax advisor to determine if and how the tax credit will apply to their vehicle acquisition.
Customers are also encouraged tocontact the IRS at http://www.irs.gov for information on hybrid and natural gas tax credit amounts applicable to Honda's new 2005 and 2006 model year hybrids and natural gas vehicles purchased during 2006.
"The federal tax incentives reward consumers who seek the highestlevels of environmental performance from their vehicles," says John Mendel,senior vice president of American Honda. "Honda continues to be a leader inproducing vehicles that set the standard for fuel economy and lowemissions."
Additionally, Honda announced that in 2009 it will introduce another hybrid model priced below the Civic Hybrid.
Honda is currently the only manufacturer to market a natural gaspassenger car nationally to fleet operators and to consumers in the statesof California and New York. The home refueling appliance, "Phill" can also be purchased in conjunction with the natural gas powered Civic GX at certain California and New York Honda dealers.
Consumer information is available at http://www.honda.com
The announcement is the result of a ruling by the Internal Revenue Service (IRS), which calculated the tax credits based on the Energy Policy Act of 2005 passed by Congress last year.
Honda's 2007 Civic Hybrid, Civic GX and Accord Hybrid are all eligible for the federal government's tax credits.
Additionally, buyers of the natural gas vehicle home refuelingappliance named "Phill" are also eligible for up to a $1,000 tax credit. Phill allows consumers to refuel their natural gas Civic GX from home at amuch lower fuel cost than gasoline.
Various limitations to the credit may apply, depending on the specificcircumstances of the customer, and Honda is encouraging customers tocontact the IRS or a tax advisor to determine if and how the tax credit will apply to their vehicle acquisition.
Customers are also encouraged tocontact the IRS at http://www.irs.gov for information on hybrid and natural gas tax credit amounts applicable to Honda's new 2005 and 2006 model year hybrids and natural gas vehicles purchased during 2006.
"The federal tax incentives reward consumers who seek the highestlevels of environmental performance from their vehicles," says John Mendel,senior vice president of American Honda. "Honda continues to be a leader inproducing vehicles that set the standard for fuel economy and lowemissions."
Additionally, Honda announced that in 2009 it will introduce another hybrid model priced below the Civic Hybrid.
Honda is currently the only manufacturer to market a natural gaspassenger car nationally to fleet operators and to consumers in the statesof California and New York. The home refueling appliance, "Phill" can also be purchased in conjunction with the natural gas powered Civic GX at certain California and New York Honda dealers.
Consumer information is available at http://www.honda.com
posted by Scott Nance at
11/28/2006 03:53:00 PM
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