It’s tough to say how that would apply and how broad one can be with something that meets the current requirements for the ev credit but isn’t a named model.
I just remembered where I saw this, on the Kia Letter
Kia may be advising that, but there’s nothing in the actual language of the bill that would require that.
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Could always claim with a fake vin and pray there’s no audit
What would the point be? You can’t claim until you have the vehicle, at which point you have a VIN, and there’s nothing that says you need a vin to lock in under the transition rule.
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You got to put something on the 8936 form.
Yah, you put the VIN of the vehicle you’re claiming the credit for when you amend your tax return after you receive it.
You’re not claiming the credit now for a future vehicle that may show up.
Just so you are aware claiming false deductions is considered tax evasion therefore a felony.
This same legislation is doubling the size of IRS, I would not recommend that.
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So you are implying you can get a ‘PO’ from 2022 and in 2024 just apply for the old $7500 because you had a binding contract?
Yes. The transition rule says that once the vehicle comes in, if the purchase order was from prior to enactment, you may elect to use the day prior to enactment as the in service date for claiming the old credit. The only way that would work out would be to go back and amend your 2022 tax return. This is, of course, pending the official guidance on how to apply it. They may give different guidance.
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But the Polestar O2 isn’t on the list of ‘approved $7500’ cars on the Fed Website as of Today, so that would invalidate it Per 30D.
Got it fraud is bad and illegal
I was making a joke.
I know, that why I said ‘No VIN on Concept Cars’ which then started a slightly different thread on
No need to for VIN
No need to buy by 12/31/22.
But the real answer is, if it aint on the list, you aint getting it on the old plan no matter what.
I’m still thinking 12/31/22 is still valid.
You’re wrong on those points though. The bill does not require a VIN or to take delivery by 12/31/22.
30D doesn’t have a list of vehicles. It has a provision that allows manufacturers to self report if their vehicles meet the definitions, which eases the burden on the tax payer to determine if their vehicle qualifies or not. That’s where the list comes from. It isn’t necessarily an all inclusive list.
Do you have any cases of this? I’m intrigued.
I know a lot of people with C8s on the books, Z06 and eray is interesting.
30D Part III Section 5 covers this and the reporting requirements.
It does require some attestations from the manufacturer that may be difficult for one to get, so it may not be super simple, but for a brand like Fisker/Rivian/Polestar/etc that’s been pushing the “be sure to order now so you can lock in your credit”, it should be totally doable.
" A vehicle manufacturer (or, in the case of a foreign vehicle manufacturer, its domestic distributor) may certify to purchasers that a motor vehicle of a particular make, model, and model year meets all requirements (other than those listed in section 5.02 of this notice) that must be satisfied to claim the new qualified plug-in electric drive motor vehicle credit allowable under § 30D with respect to the vehicle…"
you think that would be less than the Z06? (106k start) but it does seem interesting. I may consider a regular C8 as a last hurrah for gas powered in the future