2024 point-of-sale tax credit

Ask the Hackrs
, ,
1

According to IRS:

Beginning in 2024, buyers will be able to transfer clean vehicle credits to dealers at the time of sale, and use the credit amount as a down payment at time of sale. To participate, dealers will need to register with the IRS in the future. Look for details on transfer of credit rules later in 2023.

I am assuming the 2024 rules have not come out yet so just a speculation here.

Starting 2024, wouldn’t IRS be using 2022 taxes to see who qualifies and who does not?
Meaning if someone’s 2022 income qualifies and 2023 income does not qualify, they should still be able to get the tax credit before they file their 2023 taxes? Would that be considered tax fraud?

2

I think even today’s rule is the year you bought your car and previous year.
So if you buy a car on Jan 1st 2024, you cannot use 2022 income.

3

Until the actual guidance comes out, this all would just be speculating.

1 Like
4

This topic was automatically closed 60 days after the last reply. New replies are no longer allowed.