[ausev] IRS Tax Credits for Electric Vehicles?

[Brian Lasseter]

So when I get bored on my lunch break... I browse IRS forms.  It seems
like the IRS has completely eliminated any Federal tax credits for
Electric Cars in the 2008 tax year.  (We will see if there are any
changes yet to come... the IRS always reserves the right to change
anything at any time.)


The "Form 8834:  Qualified Electric Vehicle Credit" specifically
states that "This credit applied only to vehicles placed in service
before 2007".
http://www.irs.gov/pub/irs-pdf/f8834.pdf

The "Form 8910: Alternative Motor Vehicle Credit" goes to great
lengths to specify that it only applies to non-electric vehicles
powered by some mixture of petroleum products or fuel cells.  It even
provides a list of qualifying 2006-2008 model year Hybrids.
http://www.irs.gov/pub/irs-pdf/f8910.pdf


In the 2007 tax year, you could take a tax credit for 30% of the value
of "qualified alternative fuel vehicle refueling property", which
includes but is not limited to property used to "Recharge motor
vehicles propelled by electricity."
http://www.irs.gov/pub/irs-prior/f8911--2006.pdf

However, the current "Form 8911: Alternative Fuel Vehicle Refueling
Property Credit" specifically excludes electricity by stating that
"The following are alternative fuels:  -Any fuel which has >85% by
volume of one or more of the following: ethanol, natural gas,
compressed natural gas, liquefied natural gas, liquefied petroleum
gas, or hydrogen.  -Any mixture which consists of at least 20%
biodiesel by volume"
http://www.irs.gov/pub/irs-pdf/f8911.pdf


  Here's hoping for a better 2009.


-- 
TTFN,
Brian "Lasso" Lasseter

"No Sane man will dance."   -Cicero (106-43 B.C.)