WASHINGTON, D.C. – According to the National Association of Fleet Administrators, the Internal Revenue Service (IRS) has issued draft interim guidance for tax credits on hybrid trucks. IRS Notice 2007-46 provides procedures for a vehicle manufacturer to certify to the IRS both: (1) that a heavy-duty vehicle of a particular make, model, and model year meets certain requirements that must be satisfied to claim the new qualified hybrid motor vehicle credit; and (2) the amount of the credit allowable with respect to that vehicle.

The notice also provides guidance to taxpayers who purchase qualified vehicles regarding the conditions under which they may rely on the vehicle manufacturer’s certification in determining whether a credit is allowable with respect to the vehicle and the amount of the credit.
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