Hybrid Tax Credit phase-outs for most popular models

The maximum amount that taxpayers can claim for the hybrid tax credit will begin to be reduced for the most popular hybrid cars and trucks. Beginning July 1st, hybrid shoppers will need to pay close attention to the sales figures reported by the IRS. Once an automaker sells over 60,000 hybrid vehicles, the tax credit amount will start to be reduced.

More information:

• Ford and Mercury Sell Over 6,100 Hybrid Vehicles (IRS Annoucement IR-2006-90)
• Toyota and Lexus Sells Over 41,000 Hybrid Vehicles (IRS Announcement IR-2006-91)
• Google, Bank of America offer hybrid credit (CNN)
• Hybrid Tax Credit Essentials