IRS Certifies Honda Civic GX and GM Hybrids for Tax Credit

July 19, 2006

For those looking to buy hybrids and alternative fuel vehicles, the U.S. Internal Revenue Service (IRS) has just announced new vehicle certifications for the Alternative Vehicle Tax Credit, including hybrid pickups from General Motors Corporation (GM); GM's 2007 Saturn Vue Green Line, a new hybrid SUV that hasn't hit dealerships yet; and the Honda Civic GX, which runs on compressed natural gas (CNG). But be careful if your employer offers a cash incentive for buying a hybrid, since the IRS considers that taxable income. See the IRS press releases on the GM hybrid pickups, the Saturn Vue Green Line, the Honda Civic GX, and employer cash incentives, and for more information, see the IRS list of all vehicles certified for the tax credit.