2020 tax rebates + delivery timeframe

[Vinzdoggydogg]

It’s almost like there is something screwing up manufacturing and shipping on a worldwide scale right now. Weird?‍

I never complained about the delay

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[JoeDimwit]

I never complained about the delay

A complaint about the possibility of missing the tax rebates is a complaint about the delays. Just because you are wording it as a financial issue rather than a delayed enjoyment issue doesn’t matter.

 

[timbop]

Thanks a lot! This answers my question about the taxes.

you're welcome

 

[Vinzdoggydogg]

A complaint about the possibility of missing the tax rebates is a complaint about the delays. Just because you are wording it as a financial issue rather than a delayed enjoyment issue doesn’t matter.

I'm asking how the delay and thus the delivery would affect the taxes, if so is there anything to do. The only complaint I made would be about the (lack of) communication, which has nothing to do with the supply chain issues.

 

[yngwenli]

I'm not saying it's likely. But a statistical impossibility?

I'd bet it's probably impossible in it's current form. Manchin is from a heavy coal state I read.
https://news.yahoo.com/joe-manchin-accused-lining-pockets-110000513.html


No one knows, but here is what might be cut:
https://www.cnbc.com/2021/10/12/pel...-could-trim-biden-build-back-better-plan.html

My read is Community Colleges, any EV/Solar changes will probably be cut since those might look to be geared towards 'wealthy' people. Poor people don't get new EVs nor solar (normally).

They might also put heavy income limits which makes it impossible for anyone actually buying a 50k car to qualify so it's a waste of time (like that Senate thing had a 100k income limit on only 40k or less cars).

 

[murphy62]

Thanks a lot! This answers my question about the taxes.

The critical date for the $7500 tax credit is the date the car is put into service. In other words the date it is driven off of the lot.

 

[generaltso]

I'd bet it's probably impossible in it's current form. Manchin is from a heavy coal state I read.
https://news.yahoo.com/joe-manchin-accused-lining-pockets-110000513.html


No one knows, but here is what might be cut:
https://www.cnbc.com/2021/10/12/pel...-could-trim-biden-build-back-better-plan.html

My read is Community Colleges, any EV/Solar changes will probably be cut since those might look to be geared towards 'wealthy' people. Poor people don't get new EVs nor solar (normally).

They might also put heavy income limits which makes it impossible for anyone actually buying a 50k car to qualify so it's a waste of time (like that Senate thing had a 100k income limit on only 40k or less cars).

Right. Any number of things could happen. Hence my questioning of the zero chance of anything changing.

 

[timbop]

Right. Any number of things could happen. Hence my questioning of the zero chance of anything changing.

Semantically you are correct. Practically, it is extremely unlikely that the current rebates will be reduced, and the current rebates will very much likely still be available to the OP.

As for "in service date" and "date bought", those are almost always the same date so again this is semantics.

As for Ford's communication they are in a no win situation: they cannot possibly know when a car will be delivered due not only to part supply shortages but transportation snags as well. For example at the beginning of the year they were scrambling to get freight cars AND truck drivers, so cars sat at the plant. Then they discovered an issue after cars were rolling out and halted shipments to fix the cars before delivery, but that meant they had to scramble to arrange the logistics.

Anyway, it's a "catch-22":
If they are overly optimistic in their dates, people scream because they were "lied to" and "Ford promised"
If they are overly conservative then people complain about it "taking too long" and they cancel their orders

So, they tend to say as little as possible - which of course leads to "why isn't ford telling me exactly what is happening with MY CAR!"

 

[Vinzdoggydogg]

The critical date for the $7500 tax credit is the date the car is put into service. In other words the date it is driven off of the lot.

Appreciate it! Clear answer thank you! I'll need to tell that to my accountant then, see what's the best move, but I guess I'll just request it for 2022 taxes then. Good Sunday!

 

[RickMachE]

Appreciate it! Clear answer thank you! I'll need to tell that to my accountant then, see what's the best move, but I guess I'll just request it for 2022 taxes then. Good Sunday!

To clarify some more.

You don't "request" anything. You file your taxes. If you sign for the car at the dealer in 2021 before midnight on December 31st, then you qualify for a 2021 tax credit of up to $7,500. If you sign for the car on January 1st or later in 2022, then you qualify for a 2022 tax credit.

You should DEFINITELY discuss this with your accountant, for two reasons. First, to ensure that they are aware that you will have this credit coming, and second, to discuss if there is a need to play with the timing IF you had the chance. For example, if the car comes in and is ready on December 29th, but your accountant wants the tax credit in 2022, you may tell the dealer that you want to wait until 2022 to do the paperwork.

 

[Vinzdoggydogg]

To clarify some more.

You don't "request" anything. You file your taxes. If you sign for the car at the dealer in 2021 before midnight on December 31st, then you qualify for a 2021 tax credit of up to $7,500. If you sign for the car on January 1st or later in 2022, then you qualify for a 2022 tax credit.

You should DEFINITELY discuss this with your accountant, for two reasons. First, to ensure that they are aware that you will have this credit coming, and second, to discuss if there is a need to play with the timing IF you had the chance. For example, if the car comes in and is ready on December 29th, but your accountant wants the tax credit in 2022, you may tell the dealer that you want to wait until 2022 to do the paperwork.

Got it! Yes I actually bought it based on our discussion and his advice, just didnt know if it would happen this year! Most probably not, but I already warned him that might be the case. No big deal, I'd be annoyed if the incentive runs out though but well that's the game! Thank you

 

[Vinzdoggydogg]

FYI, received from the dealership today when I asked him if he thinks the car will be delivered before the end of the year

 

[macchiaz-o]

FYI, received from the dealership today when I asked him if he thinks the car will be delivered before the end of the year

Congrats on the new monkey. I'm jealous. My Mach-E was delivered sans monkey.

 

[Vinzdoggydogg]

Congrats on the new monkey. I'm jealous. My Mach-E was delivered sans monkey.

??? yes this made me laugh, I guess that's their new auto-pilot feature

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