i do my own taxes, but will file for the credit if I get the car this year.
Accountant Interpretation of Nissan Binding Web Contract
Hello Everyone, thought I would start this string as we hope to get our deliveries before the end of the year. Today I had our accountant review the Nissan Binding Web Contract, he said he believes it's a go and he will file for the $7,500 credit on our 2022 taxes. We are in California.
How's everyone else's accountant feedback coming?
How's everyone else's accountant feedback coming?
1 - 13 of 13 Posts
I am taking the credit even if IRS wants to audit/challenge it later. I am in Maryland.Hello Everyone, thought I would start this string as we hope to get our deliveries before the end of the year. Today I had our accountant review the Nissan Binding Web Contract, he said he believes it's a go and he will file for the $7,500 credit on our 2022 taxes. We are in California.
How's everyone else's accountant feedback coming?
I 100% agree with your approach. If I get the car will take credit and let them ask questions later.I am taking the credit even if IRS wants to audit/challenge it later. I am in Maryland.
Be sure to have your accountant and you file your thoughts and opinions to IRS NOTICE 2022-46. they are soliciting opinions on various aspects of the Inflation Reduction Act EV Tax Credit. You can find the link here:
www.regulations.gov
Every comment might help.
Regulations.gov
www.regulations.gov
Every comment might help.
I fear we'll need an attorney and an accountant to see how legally binding it really is.
if you lose, be prepared for interest on monies owed.I am taking the credit even if IRS wants to audit/challenge it later. I am in Maryland.
The safest bet as I plan to do is to initially file my 2022 taxes with no consideration for the Ariya EV tax credit . Once my 2022 tax contribution has been satisfied, I will follow up with an EV tax credit amendment to my 2022 taxes. If the IRS agrees with my amended tax return for the Ariya purchase then I will have automatically established a $7500 tax credit balance to be applied toward my 2023 filing. ie all the IRS can do in this scenario is say no and avoids all risk of being charged interest by the IRS .if you lose, be prepared for interest on monies owed.
I have mentioned previously that I have had their contract reviewed by a tax attorney as recently as yesterday. The answer is this is NOT a binding contract for a variety of reasons. I had it reviewed previously by a tax attorney —- same response. Tax filers (i.e., accountants) are often not aware of the nuances of tax and contract law. In this instance it is both tax and contract law that come into play. Caution is advised.i do my own taxes, but will file for the credit if I get the car this year.
Thanks very much for this follow-up. I think some of us on the forum have come to that conclusion on our own, simply by the very wording used by .gov. But it's nice to hear confirmation.
I also hear an argument about how the definitions are complicated at a state level, and that influences this as well. I also don't put much weight there.
My conclusion, somewhat unshaken, has been that the Ariya doesn't qualify - regardless of Nissan's efforts to placate and ensure us otherwise. The simple truth of the matter is, Nissan (and others) got screwed by the IRA, and we as well by association.
For those who have filed, and received the credit - my guess is eventually there will be enough of these filed that .gov will have to specifically address it en masse. And at that point, .gov can say "Oh ya you can keep that money, no problem, our bad!"; or they can say "Yah you knew you were taking a risk by filing on ambiguous grounds... pay up sucka!".
So which of those two scenarios do you think .gov is going to lean towards when that time comes? You've heard what they say about death and taxes, right?
I also hear an argument about how the definitions are complicated at a state level, and that influences this as well. I also don't put much weight there.
My conclusion, somewhat unshaken, has been that the Ariya doesn't qualify - regardless of Nissan's efforts to placate and ensure us otherwise. The simple truth of the matter is, Nissan (and others) got screwed by the IRA, and we as well by association.
For those who have filed, and received the credit - my guess is eventually there will be enough of these filed that .gov will have to specifically address it en masse. And at that point, .gov can say "Oh ya you can keep that money, no problem, our bad!"; or they can say "Yah you knew you were taking a risk by filing on ambiguous grounds... pay up sucka!".
So which of those two scenarios do you think .gov is going to lean towards when that time comes? You've heard what they say about death and taxes, right?
Thanks very much for this follow-up. I think some of us on the forum have come to that conclusion on our own, simply by the very wording used by .gov. But it's nice to hear confirmation.
I also hear an argument about how the definitions are complicated at a state level, and that influences this as well. I also don't put much weight there.
My conclusion, somewhat unshaken, has been that the Ariya doesn't qualify - regardless of Nissan's efforts to placate and ensure us otherwise. The simple truth of the matter is, Nissan (and others) got screwed by the IRA, and we as well by association.
For those who have filed, and received the credit - my guess is eventually there will be enough of these filed that .gov will have to specifically address it en masse. And at that point, .gov can say "Oh ya you can keep that money, no problem, our bad!"; or they can say "Yah you knew you were taking a risk by filing on ambiguous grounds... pay up sucka!".
So which of those two scenarios do you think .gov is going to lean towards when that time comes? You've heard what they say about death and taxes, right?
I reviewed possible government response to taking the tax credit. It could potentially be worse than “pay up.” There are potential penalties. There is a range of options for the IRS. Just “pay up” is perhaps the least likely as it would be unusual to not charge interest on the outstanding amount. The tax attorney (who is quite prominent) feels this would be a minimal response. I tried to have MN Revenue review the contract — no luck on that! Also, and too bad for us, Nissan does not pass the tax credit on if you lease the car. Other manufactures do. I can’t figure that out. Especially since the price of a Tesla Model 3 and 3 long range has dropped about 21% over the last few months (used cars).
Everything you said is right on, particularly about Tesla. It's impossible for me to talk myself into buying any EV without a tax credit. That's why I bought a Leaf, and why I pre-ordered the Ariya. For those of us who are fiscally constrained, it makes no sense to give away $7500 when all else is 'equal'.
This is quite literally the deciding factor for my purchase of the Platinum+. All this time, I've been hoping that .gov or NissanUSA corporate would provide Ariya-specific guidance prior to the time of my negations at the dealership. Seem very unlikely that's going to happen.
For me, the fact that no specific guidance has been offered is the most clear evidence that the Ariya doesn't qualify.
Sometimes, 'no' actually means 'no', and attempts to prove otherwise is a fool's errand.
This is quite literally the deciding factor for my purchase of the Platinum+. All this time, I've been hoping that .gov or NissanUSA corporate would provide Ariya-specific guidance prior to the time of my negations at the dealership. Seem very unlikely that's going to happen.
For me, the fact that no specific guidance has been offered is the most clear evidence that the Ariya doesn't qualify.
Sometimes, 'no' actually means 'no', and attempts to prove otherwise is a fool's errand.
Your opinion (as well your professional tax attorneys opinion) on this matter doesn’t take into account the post that FolsomCa provided for this forum on February 10, 2023. As you may recall FolsomCa took an extra safeguard measure to speak directly with an agent before filing his tax return as he explained that he purchased his Ariya January 27, 2023. His question specifically wanted to learn if his Ariya was eligible at all and if so was he eligible for a 2022 tax credit or a 2023 tax credit. The agent he spoke with (he got her ID #)specifically instructed him to claim that his delivery date was August 15, 2022 when filing his 2022 return even though he physically took delivery of his Ariya in 2023. Last I heard FolsomCa already received his $7500 tax credit check from the IRS. So if the IRS elects to renege on the latest IRS published transition rule guidelines, this particular agent that FolsomCa spoke with will also has some splain’n to do.I reviewed possible government response to taking the tax credit. It could potentially be worse than “pay up.” There are potential penalties. There is a range of options for the IRS. Just “pay up” is perhaps the least likely as it would be unusual to not charge interest on the outstanding amount. The tax attorney (who is quite prominent) feels this would be a minimal response. I tried to have MN Revenue review the contract — no luck on that! Also, and too bad for us, Nissan does not pass the tax credit on if you lease the car. Other manufactures do. I can’t figure that out. Especially since the price of a Tesla Model 3 and 3 long range has dropped about 21% over the last few months (used cars).
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