$7500 in 2022 after all?
12-22-2021, 10:40 PM
#16
Personally, I doubt any of the republicans will vote for it no matter how it is changed. However, Manchin may change his vote if the bill is trimmed down a bit closer to his 1.5 Trillion figure. Especially given that the coal miners union is pressuring him. But all politics aside the final fate of the bill is currently unknown. My understanding is that when it comes to the EV credit changes if some form of the bill passes, they will be retroactive to 1 January (for the 2022 tax year). So about the only way any of us will see the $7500 tax credit is if the bill doesn't pass at all or they modify/strip the EV changes. I'd love the tax credit, but won't be counting on it.
12-22-2021, 11:22 PM
#17
Burning Brakes
I see this part: "... each vehicle manufactured by such manufacturer after the later of the date on which such agreement takes effect
or December 31, 2021, ...", which is the basis for my comments above. You can see the entire section on pages 1480ff at website URL
https://rules.house.gov/sites/democr...-RCP117-18.pdf ...
So I assume that it would take effect when signed into law, and not be retroactive, but it really only makes sense to push it forward to the following calendar year (which would mean taking effect on 2023 Jan. 1 if passed during calendar year 2022). I really don't understand how the writing of these bills work, and whether the IRS is even consulted for such wording...
Last edited by cometguy; 12-22-2021 at 11:24 PM.
The following 2 users liked this post by cometguy:
Don40 (12-23-2021),
flygdchman (01-22-2022)
12-23-2021, 12:05 AM
#18
The wording of the bill is difficult to follow, and it takes a lot of effort to try to understand it.
I see this part: "... each vehicle manufactured by such manufacturer after the later of the date on which such agreement takes effect
or December 31, 2021, ...", which is the basis for my comments above. You can see the entire section on pages 1480ff at website URL
https://rules.house.gov/sites/democr...-RCP117-18.pdf ...
So I assume that it would take effect when signed into law, and not be retroactive, but it really only makes sense to push it forward to the following calendar year (which would mean taking effect on 2023 Jan. 1 if passed during calendar year 2022). I really don't understand how the writing of these bills work, and whether the IRS is even consulted for such wording...
I see this part: "... each vehicle manufactured by such manufacturer after the later of the date on which such agreement takes effect
or December 31, 2021, ...", which is the basis for my comments above. You can see the entire section on pages 1480ff at website URL
https://rules.house.gov/sites/democr...-RCP117-18.pdf ...
So I assume that it would take effect when signed into law, and not be retroactive, but it really only makes sense to push it forward to the following calendar year (which would mean taking effect on 2023 Jan. 1 if passed during calendar year 2022). I really don't understand how the writing of these bills work, and whether the IRS is even consulted for such wording...
P.S. Here is a pretty good summary of the changes proposed in November and sent to the Senate. The effective date, which could be changed, is 1 January 2022 for most of the changes: https://evadoption.com/proposed-chan...presentatives/
Last edited by gnop1950; 12-23-2021 at 12:17 AM. Reason: Update with summary link
12-24-2021, 05:41 PM
#20
Here is a link to the tax form: https://www.irs.gov/pub/irs-pdf/f8936.pdf
Last edited by gnop1950; 12-24-2021 at 05:45 PM. Reason: Link to tax form
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whiz944 (12-24-2021)
12-25-2021, 07:37 PM
#21
12-28-2021, 09:28 AM
#22
12-28-2021, 10:02 AM
#23
My belief that not one of the 50 would peel off for any reason (or benefit for their constituents) what so ever for any accomplishment for Biden allows me to feel pretty confident that if one side of the isle can't do it alone, I'll have a $7500 credit in March. We do get to wait and see 
These are the same folks who are considering packing the courts and abolishing the filibuster, when it suits them.
Last edited by Manoverpdk; 12-28-2021 at 10:07 AM.
01-07-2022, 05:55 AM
#24
Burning Brakes
Looks like Toyota will be the next to hit 200k U.S. plugin sales. Almost certainly this month or in Feb. This article has a nice chart showing how the phase out worked for Tesla and GM: https://insideevs.com/news/558975/to...redits-190000/
They think Ford will hit 200k later this year.
They think Ford will hit 200k later this year.
Last edited by whiz944; 01-07-2022 at 05:59 AM.
01-22-2022, 10:30 AM
#25
The wording of the bill is difficult to follow, and it takes a lot of effort to try to understand it.
I see this part: "... each vehicle manufactured by such manufacturer after the later of the date on which such agreement takes effect
or December 31, 2021, ...", which is the basis for my comments above. You can see the entire section on pages 1480ff at website URL
https://rules.house.gov/sites/democr...-RCP117-18.pdf ...
So I assume that it would take effect when signed into law, and not be retroactive, but it really only makes sense to push it forward to the following calendar year (which would mean taking effect on 2023 Jan. 1 if passed during calendar year 2022). I really don't understand how the writing of these bills work, and whether the IRS is even consulted for such wording...
I see this part: "... each vehicle manufactured by such manufacturer after the later of the date on which such agreement takes effect
or December 31, 2021, ...", which is the basis for my comments above. You can see the entire section on pages 1480ff at website URL
https://rules.house.gov/sites/democr...-RCP117-18.pdf ...
So I assume that it would take effect when signed into law, and not be retroactive, but it really only makes sense to push it forward to the following calendar year (which would mean taking effect on 2023 Jan. 1 if passed during calendar year 2022). I really don't understand how the writing of these bills work, and whether the IRS is even consulted for such wording...