Intentionally pushing the tax credit, old fashioned way?

[chl]

As posted earlier the IRS has guidance for when you didn't get the 15400 from from the dealer. But it's based on the premise that the dealer reported and has the form but they just didn't give you a copy. That guidance doesn't address the situation when the dealer didn't report and the form was never generated in the first place.

It remains to be seen because as you say "it doesn't address the situation" in question.

But Ford sends the VINs of the vehicles that qualify to the IRS separately from the dealers.

So, if you can prove you bought one of those qualifying vehicles in the year you want the tax credit, why should the IRS deny it just because a dealership screwed up and didn't report it on a time of sale form?

It's a mere formality, isn't it?

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[chl]

Sigh...

Back in 2011 it WAS a tax liability test - now it is an income test to get the credit.

 

[RickLightning]

Back in 2011 it WAS a tax liability test - now it is an income test to get the credit.

Wrong. Incorrect. No.

Line 18
If you cannot use part of the credit because of the tax liability limit, the unused credit is lost. The unused credit cannot be carried back or forward to other tax years.

https://www.irs.gov/instructions/i8936

 

[TaxmanHog]

It remains to be seen because as you say "it doesn't address the situation" in question.

But Ford sends the VINs of the vehicles that qualify to the IRS separately from the dealers.

So, if you can prove you bought one of those qualifying vehicles in the year you want the tax credit, why should the IRS deny it just because a dealership screwed up and didn't report it on a time of sale form?

It's a mere formality, isn't it?

The manufacturers send VIN's of BEV's produced in one or multiple transmittals as they are released from the factory, I'd hope this is done weekly / monthly at the latest.

The dealer sends reports of vehicles sold to buyer indicating and HOPEFULLY matching the above list of the same vehicle(s) sold to retail customers indicating they attested they qualified and that they chose to transfer credit to dealer or not transfer credit.

If the timing isn't optimized I see the potential for sales matching issues when the dealer attempts to report and generate the customer a F15400

 

[TaxmanHog]

Committing perjury on the application for transfering the credit to the dealer when they knowingly do not qualify is a problem in my opinion.

 

[chl]

Committing perjury on the application for transfering the credit to the dealer when they knowingly do not qualify is a problem in my opinion.

About what, MAGI income? The IRS will get the money back from the liar when they file their tax return with the correct MAGI.

Since it is a federal form, probably a federal crime or two, fraud and perjury, theft...

Lying on any form related to taxes is a big no-no.
Lying on an application for credit when purchasing a vehicle is another big no-no.

I like that the IRS lets you use the income from the year you buy it, OR the income from the previous year.

To your point:

U.S. Treasury: Lots of People and Automakers Have Cheated EV Tax Credit
Government report claims people are taking $7500 credit for a plug-in electric car when their vehicles don't qualify....


https://www.caranddriver.com/news/a29400725/ev-tax-break-cheaters/

 

[chl]

U.S. Treasury: Lots of People and Automakers Have Cheated EV Tax Credit
Government report claims people are taking $7500 credit for a plug-in electric car when their vehicles don't qualify....

https://www.caranddriver.com/news/a29400725/ev-tax-break-cheaters/

" President Obama initiated the credit as part of the Energy Improvement and Extension Act of 2008 ... for any qualified vehicle entered into service starting in 2010. ... Very few cars met the IRS requirements in 2008, but more than a decade on, automakers have sold more than 1.2 million plug-ins eligible for the credit. Whereas just 378 claims were filed before 2013 ..."

Wow, I was one of the few who claimed it in 2011 when I bought my 2012 Nissan leaf?
I had no idea it was such an elite (small) group!

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