Corsair qualified for $3,750 tax credit - Aviator $7,500.

ArizonaJon

ArizonaJon

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My Lincoln
2024 Corsair GT
Subject to revision by the IRS, it looks like we did not get the best draw on the battery material. We will only get 1/2 of the max credit. But not as bad as VW who lost all the credit on the ID4. The IRS link I had is now gone (error 404). Maybe they are revising it. I have seen conflicting reports from the media. Search for "tax credits for electric vehicles" and look for the IRS website for the latest info.
 
It’s ironic that the same piece of legislation that provided for all these confusing EV tax credits also provided funding for 87,000 new IRS agents to audit you when you make a mistake. 🧐
 
If they'd only delivery the ones ordered maybe we would have gotten the full amount but due to their supplies issues and delays we don't get the full $$$. Doesn't seem fair!
 
tgara said:
It’s ironic that the same piece of legislation that provided for all these confusing EV tax credits also provided funding for 87,000 new IRS agents to audit you when you make a mistake. 🧐
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Inappropriate posting in this forum, especially this is just flat not true.
 
heywardjr said:
I got $3750 when I filed via TurboTax. I checked it out and sure enough that is the correct amount. It's better than nothing.
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I used turbotax too. I purchased 1/21/22. When did you purchase?
 
kingdre said:
I got like 6843 on my 22 taxes.
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This is the amount I remember when I was considering the GT in Feb/March of 2022. I thought the $3,750 was implemented as part of the bill Biden signed in August.
 
I purchased my GT in October 22 and used Turbo Tax and got $6843 also. Had it been purchased before the Biden bill was signed, it would have been $7500. I believe the $3750 applies to 2023 purchase dates, and maybe only those after April something?
 
n6nfg said:
I purchased my GT in October 22 and used Turbo Tax and got $6843 also. Had it been purchased before the Biden bill was signed, it would have been $7500. I believe the $3750 applies to 2023 purchase dates, and maybe only those after April something?
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Correct. After April 17.
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UGH. Well, if I get a new '22 or '23 for my current vehicle in the shop, it will be a lower tax write off, but a lower total price. I'd be okay with that.
 
One of my concerns with the potential tax credit when I was shopping (Feb March 2022) ...there was much talk about Ford reaching the number of "EVs" that would stop or reduce the tax credit. The GT as I would have purchased it would have been above my budget, unless I was able to get the tax credit, so waiting a very long time with that uncertainty, then finding a Reserve available equipped my way, and available to drive home....I bought it. No regrets! I don't recall hearing that Ford did actually sell enough EVs to limit the credit before Biden's law.
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