Tooney
Well-Known Member
- Joined
- Aug 14, 2021
- Threads
- 747
- Messages
- 4,472
- Reaction score
- 3,651
- Location
- Ohio
- Vehicles
- 2022 Taycan 4S
A comment about the prior post. The provision quoted above is the IRS regulation/instruction for the current EV tax credit, which is authorized by Internal Revenue Code Section 30D "New qualified plug-in electric drive motor vehicles". In that section, the credit phases out when manufacturers sell a certain quantity of EVs. When that quantity limit occurs, the IRS announces that the credit for that brand/model no longer qualifies for the credit.BTW the instructions form 8936 say:
"The IRS will not attempt to collect any understatement of tax liability attributable to reliance on the certification as long as you acquired the vehicle on or before the date the IRS published the withdrawal announcement."
which makes it sound like even if congress back dates the infrastructure bill we will still be able to get our rebate next year.
The EV tax credit of the Build Back Better legislation - which has not been enacted - detailed a new EV tax credit and new IRC section, with new requirements, and terminated Section 30D. If future legislation results in current Section 30D being effectively terminated, asserting that you are entitled to the terminated tax credit because the IRS did not issue a prior withdrawal announcement for that terminated credit is unlikely to be successful.
Sponsored
