|
|
2009 Jetta 2.0L TDI Tax Credit Information
|
 The Internal Revenue Service has acknowledged the certification by Volkswagen Group of America, Inc. that its 2009 Volkswagen Jetta 2.0L Sedan (manual and automatic models) and its 2009 Volkswagen Jetta 2.0L Sportwagen (manual and automatic models) qualify for a $1,300 (one thousand three hundred) Advanced Lean Burn Technology Motor Vehicle credit as defined in Internal Revenue Code Section 30B(c).
The tax credit for Advanced Lean Burn Technology vehicles may be available to taxpayers who purchase a qualified vehicle on or before December 31, 2010. The credit is only available on the first 60,000 vehicles sold so customers are encouraged to act quickly to obtain the full tax credit. After the first 60,000 vehicles are sold, the credit begins to phase out and is available in a reduced amount.
An individual's income tax liability can be subject to a number of factors, so please consult a tax professional when considering taking advantage of the Advanced Lean Burn Technology Motor Vehicle Tax Credit. Not all taxpayers or persons filing tax returns will be able to claim the Advanced Lean Burn Technology tax credit, even if they otherwise satisfy the requirements shown below.
How to qualify for the Advanced Lean Burn Technology tax credit:
- The Advanced Lean Burn Technology vehicle must be purchased new. Used vehicle purchases will not qualify.
- The Advanced Lean Burn Technology vehicle must be purchased. Leased vehicles will not allow the Lessee to take advantage of the Advanced Lean Burn Technology tax credit.
- The purchase of the Advanced Lean Burn Technology vehicle must be made on or before December 31, 2010.
- The amount of the Advanced Lean Burn Technology Motor Vehicle Tax Credit amount is reduced after the first 60,000 vehicles are sold. We will provide notice on our website as well as to the IRS when we reach this volume of sales. See http://www.irs.gov/ for the amount of Advanced Lean Burn Technology Motor Vehicle Tax Credit possibly available.
- The purchaser must retain appropriate documentation showing the purchase of the vehicle and the date of the delivery of the vehicle.
The benefit of the Advanced Lean Burn Technology Vehicle Tax Credit may also be reduced or eliminated if the individual purchaser is subject to the Federal Alternative Minimum Tax (AMT). Individual purchasers and corporations who purchase the vehicle for business use are subject to different tax rules that may reduce or eliminate the tax credit benefit. Again, please consult a tax professional before claiming an Advanced Lean Burn Technology Motor Vehicle tax credit on your income tax return.
More information
For more information about the Advanced Lean Burn Technology tax credit, please visit one of these sites:
This summary does not constitute tax advice and should not be relied on to avoid penalties imposed by the Internal Revenue Service or state/local tax authorities. All persons considering the use of the Advanced Lean Burn Technology Motor Vehicle Tax Credit should consult with their own tax advisors to determine the specific amount of benefit, if any, that they may be able to claim on their Federal income tax return. Your tax advisor may also have further information on the state and local tax incentives that may be available to Advanced Lean Burn Technology vehicle owners. The above summary is based on the Federal income tax law in effect as of July 2008, and is subject to change, without notice, by later changes to the tax law or action by the Internal Revenue Service.
http://www.fueleconomy.gov/feg/taxLeanBurn.shtml
http://www.irs.gov/pub/irs-pdf/f8910.pdf
http://www.irs.gov/newsroom/article/0,,id=157632,00.html |
|
|
|
|
Molle Volkswagen of Kansas City
Serving Lee’s Summit, Independence and Overland Park
Home
|
|
|
