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2010 Ford Fusion Hybrid Auto Tax Credit Evolves

Posted on May 30, 2009
Filed Under Ford Fusion, Government, Tax Information | 1 Comment

ford fusionThere has been a lot of confusion regarding the 2010 Ford Fusion Hybrid auto tax credit. Ford vehicles which use hybrid technologies including Ford Fusion, Escape, Mercury Milan, and Mercury Mariner all qualify for a $1,700 auto tax credit. The tax benefit will also depend on your individual tax circumstances.

The original government incentive was $7,500, which dropped down to $3,400 if you purchased the Fusion before April 1, 2009. Today the tax incentive is $1,700, but you may want to consult with your tax advisor or the IRS to confirm the amount of credit that you can claim. The auto credits are phasing out this year, but there might be additional IRS incentives in the future.

Here’s how the whole thing works today regarding these benefits and how much you really get back. If you make your purchase before October 1, 2009, you will receive a $1,700 tax credit. However, this is where the confusion begins.

If you purchase the Fusion before April 1, 2010, your tax credit will be $850. After that date, there are no auto tax credits from the IRS. Purchasing your Hybrid within the allotted timetable is key to qualify for the tax credit.

Some auto Web sites are still promoting a $7,500 tax credit. This is outdated information relating to a credit that already expired. Again, to maximum your full credit, you should talk directly with the IRS or your tax advisor.

SOURCE: NewsOxy

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