2021 EV Tax Credit

[DLK1974VA]

What is the current assessment of the likelihood of Tesla vehicles again qualifying for the the $7,500 US federal government tax credit or possibly $10,000 if including made in America provision? What purchase/pickup date would one have to have to qualify for the credit? I've seen various thoughts on whether that would be retroactive to late May, the date the legislation passes, or not until January 1, 2022. Assuming it could go into effect in July/August (passing this summer) why would anyone be purchasing a car now unless literally have nothing else to drive, his or her tax liability won't require the credit, certain it will take months to get the car with the increased demand the credit will drive, and/or Tesla will generally raise the price to offset much/all of the credit? I am currently in the 8 - 12 week window (placed M3 order at end of May) and want the car now but can't imagine my frustration if I had waited a couple of weeks/month and would have had a massive tax benefit.

 

[ishareit]

Why can't it be retroactive to all EVs instead of only EVs purchased after 1/1/2022? Seems unfair.

Why aren’t the recent price increases retroactive? Seems unfair.

 

[Funkycar]

The Build Back Better bill - if it passes, when does the 200,000 removal go into effect? I haven't heard - and looking at reports of the bill, it looks like a lot of things go into effect in 2027???

There have been a few start dates in earlier versions of the bill being retro active to May 2021. But last I read it was December 31, 2021.

 

[EVchiq]

The vote was pushed up tomorrow at 8am because somebody is doing a long speech to delay the vote.

Does this mean that we find out whether there is a tax rebate at all tomorrow around 8am?

Or is there another vote that needs to happen and other stuff etc?

 

[Spidey616]

The vote was pushed up tomorrow at 8am because somebody is doing a long speech to delay the vote.

Does this mean that we find out whether there is a tax rebate at all tomorrow around 8am?

Or is there another vote that needs to happen and other stuff etc?

Still has to be voted on and amended by teh Senate then it goes back to the House. Look for possible resolution around Christmas time.

 

[Spidey616]

What is the current assessment of the likelihood of Tesla vehicles again qualifying for the the $7,500 US federal government tax credit or possibly $10,000 if including made in America provision? What purchase/pickup date would one have to have to qualify for the credit? I've seen various thoughts on whether that would be retroactive to late May, the date the legislation passes, or not until January 1, 2022. Assuming it could go into effect in July/August (passing this summer) why would anyone be purchasing a car now unless literally have nothing else to drive, his or her tax liability won't require the credit, certain it will take months to get the car with the increased demand the credit will drive, and/or Tesla will generally raise the price to offset much/all of the credit? I am currently in the 8 - 12 week window (placed M3 order at end of May) and want the car now but can't imagine my frustration if I had waited a couple of weeks/month and would have had a massive tax benefit.

It is not retroactive. That language has been gone for months at this time.

I just declined my VIN to wait and see what happens. Time is worth it to possibly save $8k.

 

[MC_EV]

The vote was pushed up tomorrow at 8am because somebody is doing a long speech to delay the vote.

Does this mean that we find out whether there is a tax rebate at all tomorrow around 8am?

Or is there another vote that needs to happen and other stuff etc?

House is voting now and looks like Build Back Better Act is going to pass. However, if it passes, it will still need to go before Senate. Could be passed, modified, rejected from that point.

 

[MC_EV]

It is not retroactive. That language has been gone for months at this time.

I just declined my VIN to wait and see what happens. Time is worth it to possibly save $8k.

Bill itself is not retroactive but cap applied to Tesla could be lifted. Meaning, one could potentially still benefit from $7,500.00 refund on this years taxes. However, none of us know what is actually going to be in the final language (if it passes) and I also postponed my delivery until more is known.

 

[t.e.s.l.a_dude]

It is not retroactive. That language has been gone for months at this time.

I just declined my VIN to wait and see what happens. Time is worth it to possibly save $8k.

I understand that the House version does not have language for this to be retroactive. Wondering though since the bill was originally introduced in the Senate if the revised Senate version would put back the retroactive language (i.e., effective from May 24, 2021, the date the bill was introduced in the Senate). We'll see.

 

[MC_EV]

I understand that the House version does not have language for this to be retroactive. Wondering though since the bill was originally introduced in the Senate if the revised Senate version would put back the retroactive language (i.e., effective from May 24, 2021, the date the bill was introduced in the Senate). We'll see.

True, it is largely pure speculation at this point.

 

[MC_EV]

Build Back Better Act passes the House.

 

[t.e.s.l.a_dude]

Build Back Better Act passes the House.

So now it goes to the Senate and the hope is that this get finished there by Christmas.

 

[Slumpey326]

I understand that the House version does not have language for this to be retroactive. Wondering though since the bill was originally introduced in the Senate if the revised Senate version would put back the retroactive language (i.e., effective from May 24, 2021, the date the bill was introduced in the Senate). We'll see.

I don't think there is retroactive language in the bill right now. I think the credit is for 1/01/22 and going forward

 

[EVer Hopeful]

I'm still $5,500 up because I ordered in June

 

[t.e.s.l.a_dude]

I don't think there is retroactive language in the bill right now. I think the credit is for 1/01/22 and going forward

That's true, but it will be reviewed and modified in the Senate and the Senate can potentially put back the retroactive clause. Once the Senate passes the bill (a big if) then it goes back to the House where it is just voted on; i.e., the House has to take it or leave it.

 

[avp24]

So for those of you who delayed their orders, did you already have a VIN assigned?

I received my VIN on 11/08. Tesla said I can put a hold on it til 12/08. Does that mean I will get a new one? I am hoping to take delivery in the new year but I am slightly confused on the "delaying" process.

 

[kodenco]

So for those of you who delayed their orders, did you already have a VIN assigned?

I received my VIN on 11/08. Tesla said I can put a hold on it til 12/08. Does that mean I will get a new one? I am hoping to take delivery in the new year but I am slightly confused on the "delaying" process.

Yes, I had a VIN assigned when I delayed my order. Yes, it means you’ll get a new one. Tesla will give your current VIN assignment to someone else.

 

[bro1999]

That's true, but it will be reviewed and modified in the Senate and the Senate can potentially put back the retroactive clause. Once the Senate passes the bill (a big if) then it goes back to the House where it is just voted on; i.e., the House has to take it or leave it.

with Manchin counting pennies, have 0 expectation of a retroactive credit. At best it will be the date the bill is signed into law.

 

[bro1999]

So for those of you who delayed their orders, did you already have a VIN assigned?

I received my VIN on 11/08. Tesla said I can put a hold on it til 12/08. Does that mean I will get a new one? I am hoping to take delivery in the new year but I am slightly confused on the "delaying" process.

I delayed before getting a VIN assigned. I think that is the way to go, as you avoid triggering the 30 day clock. If you get a VIN assigned, Tesla can start that clock if they want.

 

[Spidey616]

I understand people want it to be retroactive but there is no sign whatsoever that language is coming back. It was last in circulation months ago. People who keep bringing it up now are just giving people a false sense of hope. EVs are a small piece of BBB I don’t think the senate, who seemingly wants to pinch pennies, is going to reintroduce something that costs them more.

Personal opinion here but I think you could see the Union related incentives reduced if not removed due to some recent comments from Manchin. But it’s more likely that what is there for EVs now is mostly what we will see passed if this all passes.

 

[MC_EV]

I don't think there is retroactive language in the bill right now. I think the credit is for 1/01/22 and going forward

Correct with regards to new rebate. But potential new bill would repeal old bill with 200,000 cap. Thus, although one could not get the new credit(S) one could potentially get old credit for this year as cap would be lifted. Again, so much still up in the air so it is anyone's guess.