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Did it get changed to applying the credit at the point of sale or is it still only when you file.
Never at the point of sale, always when you file. I did read that certain dealerships were offering to drop the $7,500 off the price if you signed over the incentive to them but the IRS never allowed the money to come off the purchase price at the point of sale, it always had to be filed with your taxes.
 

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So where do I apply for this check for five grand? My car is electric, it has a battery and it won't run without its battery. That makes it an EV, right?
Talk to Big Al, the friendly neighborhood loan shark. He can negotiate a deal with Democrats in the U.S. Senate. ;)
 

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Yes, the bottom half payroll taxes.

Bottom half adults don't pay anything for the the Military. Or the Federal bureaucracy.

That is not their fair share. That is cheating.
Nope. It's not. "Bottom half adults" according to the tax code, do not make enough to pay taxes after their deductions are figured in. That's how it works, is it fair? It's more fair for them than it is fair for Bezos to have a $0 tax bill.

Do you honestly think that the IRS collects our money and divides it up amongst all the bills the Government has? This country would be broke in 5 minutes if that's how it worked. It doesn't. The Fed doesn't operate like a household with "income" and "expenses", heck it's not even like a State or City government. The Government has all the money it needs to pay for the military (not that any of them give 2 poops about the Vets - but I digress....), it's called deficit spending. You and I don't pay the IRS to pay that down either. The IRS is just a big accountant, really. They track what came in, "burn it" and move on. It doesn't get applied to debt, it doesn't get "spent". It just doesn't exist anymore.
 

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So everybody thinks that if my neighbor Bob owes $5,000 in Federal taxes so he buys a $30K used Ford Mustang Mach-E and gets $4,000 of his taxes erased, the other 329,999,999 of us will have to cough up $0.000012121212 to make up for him robbing us blind? Well, I hate to see what happens to all of us when everyone's hero Elon Musk gets out of paying his $25,000,000 in Federal taxes. That one is going to hurt. (insert eyeroll here)
 

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Never at the point of sale, always when you file. I did read that certain dealerships were offering to drop the $7,500 off the price if you signed over the incentive to them but the IRS never allowed the money to come off the purchase price at the point of sale, it always had to be filed with your taxes.
Leases are applied at point of sale. In the previous bill it was said that it would change for all sales not just leases.
 

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Leases are applied at point of sale. In the previous bill it was said that it would change for all sales not just leases.
I just don't think EV's need the incentive. The sign at the local Shell/Mobil/Bucky's is incentive enough for those that can utilize an EV in their lives. No need for the incentives, just keep giving those subsidies to the oil & gas industry, I say!.
 

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You should lobby your congressmen to put an end to the $15B Plus in annual US subsidies to Big Oil.
Sure, but you also know that not all oil is burned in our vehicles. Pharmaceuticals, Chemicals, Plastics, etc.......all come from it. Plus Nat Gas that heats most of the country is a byproduct. And of course the bulk of logistics use it, and of course the military.

So if you want food in the grocery store, Grandma to get her meds, your house to be warm in the winter, and our service men/women keeping us safe, then it makes sense even if I don't like it. And that's drastically different than politicized incentives to buy a certain type of car. But of course you knew that......have a good day.
 

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No. A tax credit is not a subsidy, a tax credit reduces the amount of debt you owe. If you owe, say, $5,000 in taxes but buy a used EV you would get a $4,000 tax credit which would lower your taxes owed to $1,000. You do NOT get a check. A subsidy is a direct payment to an individual or corporation, like big farms get for growing corn for ethanol production or like orange grove owners get for growing oranges as a commodity.
sub·si·dy - NOUN
A sum of money granted by the government or a public body to assist an industry or business so that the price of a commodity or service may remain low or competitive:

If you owe the Government $5,000 but the Government writes you a check for $4,000 to pay the $5,000, your net cost is $1,000 don't kid yourself, you aren't fooling us....

But much of the "subsidy" is actually going to the seller; if I'm a manufacturer/seller of bicycles and my average price is $300, and the Federal Government in an effort to encourage, more bike riding, places a $250 incentive to anyone that buys a bike, what does my average price change to? Somewhere between $500 and $550, and in some cases even more, now "everybody" wants a bike, and I can't keep-up, so Ihave to raise my prices to $600 just to keep-up!

Never at the point of sale, always when you file....
He was asking the question, that was in the language in many of the recent bills...

I have the solution: We end oil subsidies the same time we end plastic water bottles. Everybody wins, right?
"Oil subsidies" OMG, some people will never let that one go will they?

Can we keep plastic straws? I don't even use a straw that often, but gawd do I hate those paper "things".
 

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No plastic straws for the peasants! Not one!

Thanks! I think I've got a good campaign slogan for my senate run.
 

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Nope. It's not. "Bottom half adults" according to the tax code, do not make enough to pay taxes after their deductions are figured in. That's how it works, is it fair? It's more fair for them than it is fair for Bezos to have a $0 tax bill.

Do you honestly think that the IRS collects our money and divides it up amongst all the bills the Government has? This country would be broke in 5 minutes if that's how it worked. It doesn't. The Fed doesn't operate like a household with "income" and "expenses", heck it's not even like a State or City government. The Government has all the money it needs to pay for the military (not that any of them give 2 poops about the Vets - but I digress....), it's called deficit spending. You and I don't pay the IRS to pay that down either. The IRS is just a big accountant, really. They track what came in, "burn it" and move on. It doesn't get applied to debt, it doesn't get "spent". It just doesn't exist anymore.
If that's true, then we shouldn't have to pay taxes at all.

And when did Bezos cheat on his taxes? Is he going to jail? I guess I missed the massive headline!
 

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Bezos eliminated his tax debt by taking advantage of the research tax credit, a very complex and convoluted portion of the tax code that should be eliminated, but won't because it is very popular with Congress. IRS has projects going on of investigating promoters of abusive schemes using the research tax credit.
 

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Bezos eliminated his tax debt by taking advantage of the research tax credit, a very complex and convoluted portion of the tax code that should be eliminated, but won't because it is very popular with Congress. IRS has projects going on of investigating promoters of abusive schemes using the research tax credit.
Oh so he didn’t cheat at all, he just followed the rules. The same rules that allow 50% of the country to not pay taxes. Don’t hate the player, hate the game. He’d be an idiot to pay more taxes than he’s legally required to.
 

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The bill also includes $80 billion new spending for IRS over the next 9 years that supposedly will brining $203 billion in new revenue.
Well that's a comforting pile of lies.
 
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