Fuel Economy, Hypermiling, EcoModding News and Forum - EcoModder.com - View Single Post

Isaac Zachary · 01-10-2024, 05:36 PM

So as it stands now, if I understand this correctly:

You go to a dealer and they have you fill out a form to get the tax credit as a point-of-sale.
But you must say that you will make enough to owe the $7,500 while not making too much (which is like $150,000 for an individual, or $300,000 for a couple). Which basically means you'd probably should have qualified on your last year's taxes if you want proof.
If you end up not working that much the year you get the EV there's a chance the IRS may pardon your error granted you had truely thought you were going to make enough. Again, you probably should have some sort of proof of that, like having made that much the year before, or there's still a chance the IRS won't care and they'll demand you give them back the tax credit.

Oh boy! This is why I need to stop looking at car purchasing news until I truely need a car.

01-10-2024, 05:36 PM	#19 (permalink)
Isaac Zachary High Altitude Hybrid Join Date: Dec 2020 Location: Gunnison, CO Posts: 2,119 Avalon - '13 Toyota Avalon HV 90 day: 40.45 mpg (US) Prius - '06 Toyota Prius Thanks: 1,151 Thanked 597 Times in 474 Posts	So as it stands now, if I understand this correctly: You go to a dealer and they have you fill out a form to get the tax credit as a point-of-sale. But you must say that you will make enough to owe the $7,500 while not making too much (which is like $150,000 for an individual, or $300,000 for a couple). Which basically means you'd probably should have qualified on your last year's taxes if you want proof. If you end up not working that much the year you get the EV there's a chance the IRS may pardon your error granted you had truely thought you were going to make enough. Again, you probably should have some sort of proof of that, like having made that much the year before, or there's still a chance the IRS won't care and they'll demand you give them back the tax credit. Oh boy! This is why I need to stop looking at car purchasing news until I truely need a car. __________________