Washington (Feb. 3, 2004) -- Could your client get a tax break for their car? Some Honda drivers could qualify for a tax deduction of as much as $2,000, thanks to a certification by the Internal Revenue Service.
The IRS certified the 2003 and 2004 Honda Insight and the 2004 Honda Civic Hybrid as eligible for the clean-fuel vehicle deduction, which means that taxpayers who purchase a new hybrid vehicle can claim a deduction for the incremental cost of buying a car propelled by a clean-burning fuel. Taxpayers can claim up to $2,000 for tax year 2003 or up to $1,500 for tax year 2004.
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