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IRS Issues Guidance on Tax Credit for Hybrid Vehicles

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Treasury and IRS Issues Guidance Regarding Hybrid and Lean Burn Vehicles: “During a visit to the Detroit…Treasury Secretary John Snow announced the issuance of IRS guidance regarding the tax credit for hybrid vehicles. The credit, which was enacted by the Energy Policy Act of 2005, may be as much as $3,400 for those who purchase the most fuel-efficient vehicles.”

  • Credit for New Qualified Alternative Motor Vehicles (Advanced Lean Burn Technology Motor Vehicles and Qualified Hybrid Motor Vehicles)
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