IRS EV Purchase Credit

[Dinozero]

Just to clarify, you don't need to file Form 15400. You actually don't need it at all since all the information on it is readily available to you. It's proof that the sale was reported and it has all the information you need on one page.


I suspect that when a taxpayer claims the credit, the VIN is run through the IRS system and it checks for proper and timely reporting. If not, your return will probably get kicked back.

I honestly suspect that it won’t. The IRS will not hold you accountable for something that is not provable on the documentation that you possess.

That would be a massive nightmare for them. They would be denying you a tax credit, but they would have no really official record to explain how they’re denying you.

If you go to the IRS website in the FAQ section, it talks about how you’re supposed to get this form within three days. It says for further information on this topic click here and it gives a link to the actual tax code and law.

When you look through that the way those statutes are structured really look like it’s on the dealer to provide that within three days to the buyer.

Either way, we all know here in a few months.

The bottom line, is the IRS is going to be looking for the VIN, they’re gonna be looking at the date. The car was placed in service, whether or not it is eligible for the credit and how much, and the SSN of the buyer.

I know that the law doesn’t have to make sense, but there’s no reason for them to make getting this credit harder on folks in this particular instance

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[Dino]

I bought my qualifying 2023 Lightning 1-5-24 and asked the dealer repeatedly for all tax forms I needed. They finally sent me some forms the first week of February but not this form.

 

[bmwhitetx]

Surprise Ford in Surprise Arizona.

Now we now how they chose their name. Their name says it all!

 

[TaxmanHog]

I know that the law doesn’t have to make sense, but there’s no reason for them to make getting this credit harder on folks in this particular instance

Hold my beer.

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