Tax credit

<div class='quotetop'>QUOTE(EddieF @ Sep 24 2006, 08:29 AM) [snapback]324206[/snapback]</div>

http://www.irs.gov/newsroom/article/0,,id=157557,00.html

The key word is "sold" - If you buy the thing sight unseen, complete all the paperwork, get car tags etc on or before Sep 30 - and pick it up later, you are in the window. If you put money down, and complete the paperwork on (say) Oct 15, you are outside the window and get the reduced tax rebate.

http://www.irs.gov/newsroom/article/0,,id=161076,00.html

http://www.irs.gov/newsroom/article/0,,id=162562,00.html

Caveat Emptor! As always, free advice is worth just exactly what you paid for it.

 

<div class='quotetop'>QUOTE(EddieF @ Sep 24 2006, 05:29 AM) [snapback]324206[/snapback]</div>

My advice is just to consult a tax professional before you file your 2006 tax return. He or she can advise you how aggressive claiming 100% of the credit would be under those circumstances.

It hasn't yet. But then there was no confirmation for the 2006 Prius until April 2006 or so. I bought my Prius in early March 2006 with no guarantee that the car would be certified as qualifying for the credit. What's could change? Will the 2007 car be so inefficient, or have such dirty emissions, that it won't qualify? Will it be smaller, so that it is no longer classified as a mid-size car, and therefore be rated against smaller conventional cars and thus qualify only for a smaller credit? I don't think so on any of those counts. What needs to happen? Toyota USA has to do some tests on the 2007 car and submit the paperwork to the IRS and then (don't hold your breath here) the IRS has to acknowledge it.

 

Weird...I got the exact same story from a woman on a 2007 Mag Gray due on 9/29. It wouldn't be Elmhurst Toyota, would it?