Request for Comments on Credits for Clean Vehicles

[TaxmanHog]

Read the complete request for comment here
https://www.irs.gov/pub/irs-drop/n-22-46.pdf

https://www.irs.gov/newsroom/irs-asks-for-comments-on-upcoming-energy-guidance
https://www.irs.gov/downloads/irs-drop

Notice 2022-46 SECTION 1. PURPOSE
The Department of the Treasury (Treasury Department) and the Internal
Revenue Service (IRS) plan to issue guidance under § 30D and § 25E of the Internal
Revenue Code (Code), as amended by §§ 13401 and 13402, respectively, of Public
Law 117-169, 136 Stat. 1818 (August 16, 2022), commonly known as the Inflation
Reduction Act of 2022 (IRA). This notice requests general comments on questions
under § 25E and the amendments to § 30D, as well as specific comments involving
questions described in section 3 of this notice. Comments received in response to this
notice will help to inform development of guidance implementing §§ 30D and 25E.

SECTION 4. SUBMISSION OF COMMENTS
.01 Written comments should be submitted by Friday, November 4, 2022.
Consideration will be given, however, to any written comment submitted after Friday,
November 4, 2022, if such consideration will not delay the issuance of guidance. The
subject line for the comments should include a reference to Notice 2022-46. Comments
may be submitted in one of two ways:
(1) Electronically via the Federal eRule making Portal at www.regulations.gov
(type IRS-2022-0046 in the search field on the regulations.gov homepage to find this
notice and submit comments).
(2) Alternatively, by mail to: Internal Revenue Service, CC : PA : LPD : PR (Notice 2022-46), Room 5203, P.O. Box 7604, Ben Franklin Station, Washington, D.C., 20044.
.02 All commenters are strongly encouraged to submit comments electronically.
The Treasury Department and the IRS will publish for public availability any comment
submitted electronically and on paper to its public docket on regulations.gov.

https://www.regulations.gov/

Sponsored

 

[TaxmanHog]

Drafts of revisions to Form 8936 and related instructions will post here when they are ready for review https://www.irs.gov/draft-tax-forms

First draft revision of the Form 8936
https://www.irs.gov/pub/irs-dft/f8936--dft.pdf

Current Form 8936
https://www.irs.gov/pub/irs-pdf/f8936.pdf

Current instructions have not been modified yet.
https://www.irs.gov/pub/irs-pdf/i8936.pdf

 

[vandy1981]

It looks like there aren't any updates to definition of a binding contract and the "5% of purchase price" will prevail.

 

[cvalue13]

First draft revision of the Form 8936

Interesting formulation of the lead-in (my emphasis):

“This credit is for qualified plug-in electric drive motor vehicles placed in service before 2023, qualified two-wheeled plug-in electric vehicles acquired before but placed in service in 2022, and new clean vehicles placed in service after 2022. See separate instructions for vehicle definitions and other requirements.”

believe that about covers it

 

[Nick Gerteis]

Interesting formulation of the lead-in (my emphasis):

“This credit is for qualified plug-in electric drive motor vehicles placed in service before 2023, qualified two-wheeled plug-in electric vehicles acquired before but placed in service in 2022, and new clean vehicles placed in service after 2022. See separate instructions for vehicle definitions and other requirements.”

believe that about covers it

Hmm. So I should be able to get this credit for my 2015 Nissan Leaf, assuming it’s “qualified “? Would be nice!

 

[TaxmanHog]

Regulations dot gov link is active, 20 comments have been submitted so far......

https://www.regulations.gov/document/IRS-2022-0020-0001

 

[TaxmanHog]

530 Comments so far, deadline is 11/4/2022
https://www.regulations.gov/docket/IRS-2022-0020/comments

 

[JPro]

Posted mine!

 

[ddbrooke]

In the instructions for Form 8936, it appears to say that we are responsible for obtaining a copy of the IRS letter acknowledging the certification of the Lightning. Is that how you are reading it?

Generally, you can rely on the manufacturer’s (or, in the case of a foreign manufacturer, its domestic distributor’s) certification to the IRS that a specific make, model, and model year vehicle qualifies for the credit and, if applicable, the amount of the credit for which it qualifies. The manufacturer or domestic distributor should be able to provide you with a copy of the IRS letter acknowledging the certification of the vehicle.

 

[TaxmanHog]

Follow up conversation in a new thread with the Rev Proc having been issued today

https://www.f150lightningforum.com/...anufacturers-sellers-of-clean-vehicles.13530/

Sponsored