09-13-2022, 01:01 PM | #89 |
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Only your dealer can answer that question as it is their purchase order document after all. They have their lawyers, and can redact a purchase order in a way that may satisfy the "written binding contract" requirement based on their current interpretation of the law and IRS guidelines at this time.
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09-14-2022, 04:28 AM | #90 |
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Same here. I asked her to document what I said today as I restated the lunacy of the situation.
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09-14-2022, 05:43 AM | #91 |
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09-15-2022, 02:24 PM | #92 | |
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Quote:
There was nothing in the message related specifically to the i4, this was a generic EV tax credit question response. |
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10-21-2022, 04:36 PM | #94 |
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Nothing has changed. It is up to you whether you want to take the chance but you do not meet the requirements of the Transition rule.
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10-21-2022, 06:34 PM | #95 |
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The penalty does seem significant. I'm not sure it's worth the gamble. You could potentially ask your accountant if you can file it, in which case would that satisfy a reasonable attempt?
https://www.irs.gov/payments/accuracy-related-penalty Negligence or Disregard of the Rules or Regulations Penalty Negligence is when you don’t make a reasonable attempt to follow the tax laws when you prepare your tax return. Disregard means you carelessly, recklessly or intentionally ignored the tax rules or regulations. Substantial Understatement of Income Tax Penalty For individuals, a substantial understatement of tax applies if you understate your tax liability by 10% of the tax required to be shown on your tax return or $5,000, whichever is greater. |
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10-30-2022, 11:56 AM | #96 |
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In CA, the refundable deposit already disqualifies the order is binding, my guess is that FL's statue would be similar(u can check with local CPA/tax attorney to confirm).
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10-30-2022, 12:08 PM | #97 | |
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Quote:
Everyone would be well served to write your senators and congressional representative and complain.
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10-31-2022, 10:22 AM | #99 |
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If they decide you did it fraudulently then they definitely will penalize you. So few people should be able to qualify under the Transition rule that they just may make it an audit trigger so it is looked at closer. Then again, they may not do anything and just process every return without scrutiny.
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10-31-2022, 11:34 AM | #100 |
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