$7500 tax credit changes come MARCH

[me!]

When the Inflation Reduction Act rules for the $7500 change come March due to the amount domestic battery components, is the $7500 gone? Do Ford batteries qualify for either of the $3750 components of it?

My XLT build date has been pushed back 8 times since Oct and I will not take delivery before March.
Screwed?
Is there anything I can sign at the dealerships beforehand to sneak under the wire?

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[Lightning Rod]

8 times since October? Wow, what is the build status today? Man, that's pure torture! Sorry to hear about your build.

I'm not expecting any tax credits as my Lariat ER went well over the 80K price tag. You would think that they would give us SOME of the 7500 because we are buying a clean energy vehicle. Why does it have to be all our none. It's all bullshit political theater.

 

[me!]

8 times since October? Wow, what is the build status today? Man, that's pure torture! Sorry to hear about your build.

XLT 312A
week of 3/8/23

 

[Lightning Rod]

XLT 312A
week of 3/8/23

Ohhh..... you're waiting for your build date. You ordered in October?

 

[Monkey]

The updated tax specifics should not affect the $7500, per se. They're going to phase-in the battery materials requirements, they just can't seem to decide how that's to be done. Finalizing this may have an impact to your final credit amount, but I'm guessing it won't make much or any difference for 2023 vehicles. It doesn't matter that it's happening in march, whatever they decide will apply to the entire year -- January to December, won't matter if you get your truck in March or not. I hope you get it soon though... Still waiting on an October order... That's brutal.

 

[RickLightning]

When the Inflation Reduction Act rules for the $7500 change come March due to the amount domestic battery components, is the $7500 gone? Do Ford batteries qualify for either of the $3750 components of it?

My XLT build date has been pushed back 8 times since Oct and I will not take delivery before March.
Screwed?
Is there anything I can sign at the dealerships beforehand to sneak under the wire?

It is expected that 1/2 the credit due to the batteries, but no one knows. Also your income needs to be under the $150k individual, $300k joint.

 

[me!]

Ohhh..... you're waiting for your build date. You ordered in October?

No. I ordered in Sept. I have had 9 build dates, beginning with Oct and continually pushed back

 

[me!]

The updated tax specifics should not affect the $7500, per se. They're going to phase-in the battery materials requirements, they just can't seem to decide how that's to be done. Finalizing this may have an impact to your final credit amount, but I'm guessing it won't make much or any difference for 2023 vehicles. It doesn't matter that it's happening in march, whatever they decide will apply to the entire year -- January to December, won't matter if you get your truck in March or not. I hope you get it soon though... Still waiting on an October order... That's brutal.

Then why does Ford's website have a bright red banner that is new and states "get your $7500" by March??! I think new changes COULD take place and start this March

 

[CAMB150]

The way I understand it is until the new guidance comes out in March, anyone taking delivery before this that meets the price cap then you should qualify for the $7500

 

[TaxmanHog]

It doesn't matter that it's happening in march, whatever they decide will apply to the entire year -- January to December, won't matter if you get your truck in March or not.

Incorrect

https://www.irs.gov/credits-deductions/credits-for-new-clean-vehicles-purchased-in-2023-or-after


https://afdc.energy.gov/laws/electric-vehicles-for-tax-credit

https://www.fueleconomy.gov/feg/taxevb.shtml

 

[me!]

Incorrect

https://www.irs.gov/credits-deductions/credits-for-new-clean-vehicles-purchased-in-2023-or-after


https://afdc.energy.gov/laws/electric-vehicles-for-tax-credit

https://www.fueleconomy.gov/feg/taxevb.shtml

https://www.cnbc.com/amp/2023/01/25/inflation-reduction-act-7500-ev-

 

[me!]

https://www.cnbc.com/amp/2023/01/25/inflation-reduction-act-7500-ev-

 

[TaxmanHog]

https://www.cnbc.com/amp/2023/01/25/inflation-reduction-act-7500-ev-

do you have a better link, this appears corrupted, and searching CNBC for key words comes up with hundreds of articles.........

 

[Its PJ Bia]

I'm going to see if i can go through with the sale at the dealer before the truck arrives if it's not here by March 1st.

 

[me!]

do you have a better link, this appears corrupted, and searching CNBC for key words comes up with hundreds of articles.........

Try "Googling" EV tax credit and the word March. I guess the IRS is meeting in March to iron out the requirements

https://www.greenmatters.com/renewables/federal-tax-credit-for-electric-cars-2023

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