USA
The Internal Revenue Service (IRS) has notified Emission Solutions Incorporated (ESI) regarding the value of tax credits available for its engines. According to the IRS letter to ESI, new or used vehicles that are repowered with ESI's model year 2006 Phoenix 7.6L engine qualify for a credit of $20,000 if the engine is used in a vehicle with a gross vehicle weight rating of 14,001 – 26,000 pounds, and $32,000 if the vehicle has a GVWR in excess of 26,000 pounds.
ESI has indicated it expects the IRS to publish in the near future a formal announcement regarding the certification of the tax credit values. The IRS generally has publicized these announcements by issuing a press release and posting on its official website. Purchasers of vehicles or engines that have received such certifications from the IRS may rely upon this information when claiming a tax credit on Form 8910. These tax credits are available for engines placed in service between January 1, 2006 and December 31, 2010.
For more information concerning ESI engines, please contact Jim Moore; jimmoore@emissionsolutionsinc.com.
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