[ChicagoConservative27]

I know people who get excited about tax credits. They have no idea what that means.

[moovova]

Joe’s gotta get his $750 off the top, first.

[Mr. K]

And they immediately increased the prices by 7500

[DoughtyOne]

Aren’t tax credits basically deducted from declared income,
and then simply reduce your tax exposure via the Tax scale?

I’d be surprised if people wind up getting even $2,500 tax
savings.

[ProtectOurFreedom]

LOL...EV prices jumped up $7,500 naturally, as soon as the feds made the “free” money available.

Electricity prices are soaring everywhere. An electron “fill up” is getting close to a gasoline fill-up (at least in sane states)

[Ahithophel]

[P]eople who get excited about tax credits. They have no idea what that means.

Tax credits are preferable to tax deductions

[mewzilla]

Caveat emptor.

[plain talk]

Here is one way to make use of it —

“For example, investors can consider converting a pretax retirement account to a Roth, a type of after-tax account; they’d owe income tax on that conversion.”

[I want the USA back]

The tax credit is paid by increased taxes on everyone. What happens to the EV tax credit when all gas cars have been outlawed and everyone has an EV?

[ConservativeInPA]

EV manufacturers immediately raised the price of vehicles (literally a day or two after the tax credit announcement) by $7500 or more. I have a message for the eff’n a-holes that but into this green BS and are subsidized by my tax dollars. You are the eff’n problem. You are the enemy. You will be treated as such, even the losers on FR that love their eff’n subsidized piece of schiff EVs. You are scum and anti-American. You are frickin’ clueless thinking you will save the planet and economic morons thinking you will save money. My children and grandchildren are not thankful for the debt that you created. Move to eff’n China. You are not welcome here.

[es345st]

“The historic climate legislation”

CNBC ugh.
In other words it was BS.

[NWFree]

The tax credit evaporated to the manufacturers when their prices were increased by roughly the same amount

[DFG]

I am an Enrolled Agent.

See this link for the list of vehicles that qualify for the Qualify Plug-in credit on form 8936 (IRC 30D).

https://www.irs.gov/businesses/irc-30d-new-qualified-plug-in-electric-drive-motor-vehicle-credit

This is a non-refundable credit with the unused part being carried forward to the next tax year. A non-refundable credit is limited to the calculated tax (2021 1040 page 2 line 16).

[hanamizu]

Don’t the E.V.s have to be ‘union-made’ to qualify?

[jdsteel]

I got my $7,500 tax credit from my Ford Mach e, purchased over a year ago, under the old rules.

I would not be able to do so under the new rules. And I paid under the sticker price for it then. Now? LOL.

Don’t underestimate Joe’s ability to F things up.

[jdsteel]

What’s not to like? I pay way too much in taxes.

[olepap]

No tax credit for Teslas, otherwise I would jump on it.

[TheConservativeTejano]

I know people who get excited about tax credits. They have no idea what that means.

The EV is subsidized by the American taxpaying public.

One more time, there has been no better invention than the internal combustion engine, period.

The Internal Combustion Engine has given the economy of the U.S. a big shot in the arm and yet we are the worst enemy of the internal combustion engine.

Look at how many methods of transportation we are using right at this moment.

This Bozo Vegetable Biden is going the way of the Dodo bird.

[TheConservativeTejano]

I know people who get excited about tax credits. They have no idea what that means.

The EV is subsidized by the American taxpaying public.

One more time, there has been no better invention than the internal combustion engine, period.

The Internal Combustion Engine has given the economy of the U.S. a big shot in the arm and yet we are the worst enemy of the internal combustion engine.

Look at how many methods of transportation we are using right at this moment.

This Bozo Vegetable Biden is going the way of the Dodo bird.