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GeekEV
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Re: Electric drive vehicle credit 8936 decreased/rejected by

Sun Apr 29, 2012 8:24 pm

Withholding more tax? I think you mean claiming more exemptions so as to withhold less tax.

The IRS has a very good withholding calculator you can use: http://www.irs.gov/individuals/article/ ... 96,00.html

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JPVLeaf
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Re: Electric drive vehicle credit 8936 decreased/rejected by

Sun Apr 29, 2012 9:07 pm

GaslessInSeattle wrote:It sounds like it's not so random. our refund status on the IRS web site has been "Your tax return has been received and is being processed" for many months. We filed in early February and it's getting kind of nerve wracking. It appears that a few things could be adding to the delay. Our tax person has called and found that they are "investigating" the claim and that the main red flag is the EV credit. Our accountant told us we are in IRS limbo land, (text snipped) .... In hind sight, our accountant suggests trying to avoid ever having a refund over $10,000, as it automatically flags your account.

I was a little concerned reading this thread about fed tax returns with EV credits randomly being held up, esp. with refunds >$10k .... Surprisingly, we received our CA tax refund within 5 days of our preparer e-filing (4/12). We're still waiting for our Fed refund, though it's only been a couple of weeks. We're expecting a >$10k refund on a return that is slightly complicated, even before the EV credit, which is pretty straight forward. Did we get plucked into 'IRS Limbo Land'?

Thankfully, you can check the website, http://www.irs.gov, and click on "Where's My Refund" then on "Go Get My Refund Status." What a relief it was to read:
"Your tax refund is scheduled to be direct deposited on May 2, 2012. If your refund is not credited to your account by May 7, 2012, check with your bank to find out if it has been received ...."
So, we passed the '>$10k flag'. Afterall, we've experienced 'IRS Limbo Land' before and don't want to go back. :roll:
Last edited by JPVLeaf on Mon Apr 30, 2012 10:20 am, edited 1 time in total.
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GaslessInSeattle
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Re: Electric drive vehicle credit 8936 decreased/rejected by

Sun Apr 29, 2012 9:20 pm

sorry, yes that is what I meant. it's been a long day, I corrected the post. thanks!

GeekEV wrote:Withholding more tax? I think you mean claiming more exemptions so as to withhold less tax.

The IRS has a very good withholding calculator you can use: http://www.irs.gov/individuals/article/ ... 96,00.html
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gmuzhik
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Re: Electric drive vehicle credit 8936 decreased/rejected by

Sun Apr 29, 2012 9:54 pm

planet4ever wrote:
gmuzhik wrote:The way to check is to do form 6251 and compare line 31 or 54 with your total tax on form 1040, line 61. In my case, the IRS took the higher one on form 6251. There is nothing I can find that supports this.
That restriction does, in effect, apply to form 8911, the EVSE credit. If your TMT is that high you will definitely not get anything for the EVSE credit, and you shouldn't even try. Did you perhaps submit 8911 along with your other tax forms? I am beginning to suspect that some person or computer program at the IRS is getting the rules for 8911 and 8936 confused. My nonprofessional advice is to resubmit without form 8911 if your TMT (form 6251 line 33) is anywhere within $8K of your regular tax before credits (form 1040 line 46).

Ray

Ray, Maybe you are on to something here. Yes, I did file 8911 for my EVSE and yes the TMT zeroed it out. If the IRS confuses the two then there is something seriously wrong with their system. Great question to ask them though. Thanks for the idea.
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gbarry42
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Re: Electric drive vehicle credit 8936 decreased/rejected by

Sun Apr 29, 2012 10:13 pm

I looked at this line 31 business, and in my case the answer was zero. What I noted, though, is that when you file as single, the exemption for AMT is far less than the exemption for filing jointly. So that makes you much more likely to have a positive TMT. The other difference is that I filed 8936. I can't keep track of all the different forms, since they are largely the same. In fact, I pretended to fill out 8910 (which the program had no trouble with). When I then filled out the 8936, it was the same calculations, with the same results.
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DaveEV
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Re: Electric drive vehicle credit 8936 decreased/rejected by

Sun Apr 29, 2012 10:28 pm

I used TurboTax, got over a $10k refund (should have lowered my withholdings) and got my refund in a timely manner - couple of weeks at the longest. I did qualify for a bit of AMT this year, less than $500. Also filed for 8936 according to TurboTax.

Form 8936 seems quite clear: You get $7,500 back for the car unless line 46 of 1040 (minus personal deductions) is less (which means your tax liability is less than $7,500).

I've never heard of this "TMT" before and Google doesn't turn up much, either.

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Boomer23
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Re: Electric drive vehicle credit 8936 decreased/rejected by

Sun Apr 29, 2012 11:58 pm

drees wrote:
I've never heard of this "TMT" before and Google doesn't turn up much, either.


TMT is Tentative Minimum Tax and it is part of the calculation on Form 6251, line 33. The calculation varies depending on your filing status and income and other factors. It is the dollar amount from which you subtract your regular tax from Form 1040 line 44. If the result of that subtraction is a positive number, you owe the difference in addition to your regular tax. That difference is called Alternative Minimum Tax or AMT.
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EdmondLeaf
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Re: Electric drive vehicle credit 8936 decreased/rejected by

Mon Apr 30, 2012 5:21 am

I would like to know if affected people used electronic or paper IRS submission system?

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TomT
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Re: Electric drive vehicle credit 8936 decreased/rejected by

Mon Apr 30, 2012 5:39 am

Sigh... Yet another reason why I went with a four year lease...
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Re: Electric drive vehicle credit 8936 decreased/rejected by

Mon Apr 30, 2012 5:41 am

I am here in Texas and had no problems getting the full $7,500 back. Granted, my taxes are more simple than most. I used Turbo Tax, have no business credits, have no stock gains/losses reported. Just housing deductions and student deductions and credits. I think my final amount AMT was over 9k before all the credits were applied. So it was a nice chunk of change back.
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