[Jrg3170]

Does anyone know why the 2023 X5 wasn’t included in the list of eligible EVs/PHEVs released by DoE yesterday?

https://afdc.energy.gov/laws/inflation-reduction-act

[qwert9708]

Originally Posted by Jrg3170

Does anyone know why the 2023 X5 wasn’t included in the list of eligible EVs/PHEVs released by DoE yesterday?

https://afdc.energy.gov/laws/inflation-reduction-act

My speculation here, one of the fine print on top says the data were by Aug 1 submitted to NHTSA. 2023 started Aug. Therefore, it was not included yet.

[guowwu]

All these new rules are really confusing. I put an order down in early august with the week 37 built date(according to the genius). I think it will be delivered sometime in late September. The order date is before august 16 and the delivery date is after the 16th. I hope i still qualify.

[nordring]

Originally Posted by qwert9708

My speculation here, one of the fine print on top says the data were by Aug 1 submitted to NHTSA. 2023 started Aug. Therefore, it was not included yet.

I am thinking something similar, since most cars listed under 2022 MY didn't make it to the 2023 MY list.

Was hoping to find more context here:

https://electrek.co/2022/08/16/ev-ta...reduction-act/

good article, but doesn't ad much new info to what has already been written on this forum

[SOAIAAA81]

Originally Posted by nordring

I am thinking something similar, since most cars listed under 2022 MY didn't make it to the 2023 MY list.

Was hoping to find more context here:

https://electrek.co/2022/08/16/ev-ta...reduction-act/

good article, but doesn't ad much new info to what has already been written on this forum

The link to the IRS website within that NHSTA explains a lot and clears a lot of confusion around the credit and the transition rules.

[TurtleBoy]

Originally Posted by guowwu

All these new rules are really confusing. I put an order down in early august with the week 37 built date(according to the genius). I think it will be delivered sometime in late September. The order date is before august 16 and the delivery date is after the 16th. I hope i still qualify.

Your order date doesn’t matter at this point. As long as you take delivery by 12/31/22, and something unforeseen doesn’t happen with the battery guidance, you will be fine.


The reason the 23 X5 isn’t on the list is that it only contains early MY 23 as far the ones certified by the EPA. There is no doubt that it qualifies for the credit.

[Tall Paul]

Remember there was a very short delay on deliveries because they didn’t have the 2023 epa certificate. Seems like it was completed in the first week of August

[Gizmiester888]

The 2023 X5 45e is listed on the website so the IRS afdc link for cars and credits will be updated soon.

https://www.fueleconomy.gov/feg/taxevb.shtml

Safe to say, as Turtle has been saying , are all 45e's delivered before Jan 1 2023 will apply for the $7500 tax credit no matter what the MSRP and your income.

The only caveat and probably irrelevant for this year is the battery guidance to be determined by the Secretary which can be issued at any moment but history says it may not happen this year because guidance also requires a public comment period and more likely something that will be finalized next year.

So think about the extra $7500 you will be able to deduct from your taxes instead of worrying about nothing.

[Celos]

Originally Posted by Gizmiester888

So think about the extra $7500 you will be able to deduct from your taxes instead of worrying about nothing.

If we do that, then the entire commenting-on-the-internet thing breaks down!

[doniel]

Originally Posted by TurtleBoy

Your order date doesn’t matter at this point. As long as you take delivery by 12/31/22, and something unforeseen doesn’t happen with the battery guidance, you will be fine.


The reason the 23 X5 isn’t on the list is that it only contains early MY 23 as far the ones certified by the EPA. There is no doubt that it qualifies for the credit.

I don't understand why would the to-be-released battery guidance matter in this case. According to Treasury's FAQs, the only change mentioned for EVs bought between 8/16/22 & the end of 2022 is the North America final assembly requirement (the 2nd to last Q):

https://home.treasury.gov/system/fil...redit-FAQs.pdf

There's no mentioning of the battery guidance in this scenario. Can someone tell me if I'm understanding this right?

[outsidepls]

Originally Posted by doniel

I don't understand why would the to-be-released battery guidance matter in this case. According to Treasury's FAQs, the only change mentioned for EVs bought between 8/16/22 & the end of 2022 is the North America final assembly requirement (the 2nd to last Q):

https://home.treasury.gov/system/fil...redit-FAQs.pdf

There's no mentioning of the battery guidance in this scenario. Can someone tell me if I'm understanding this right?

It's in the text of the bill that the new battery rules are effective upon issuance of proposed guidance by the Treasury Secretary, who has until 12/31/22 to do so. However, I suspect that this newly published IRS guidance indicates that the Secretary won't do so until the last minute so as to avoid a clustermess.

[doniel]

Originally Posted by outsidepls

It's in the text of the bill that the battery rules go in to place upon issuance of proposed guidance by the Treasury Secretary, who has until 12/31/22 to do so. However, I suspect that this newly published IRS guidance indicates that the Secretary won't do so until the last minute so as to avoid a clustermess.

Oh Ok. Thanks for clarifying.

[rennsportny]

Essentially, we need Pete to not issue any guidance till the very last minute.

What's the Vegas line on that?

[outsidepls]

Originally Posted by rennsportny

Essentially, we need Pete to not issue any guidance till the very last minute.

What's the Vegas line on that?

Janet. Treasury, not Transpo.
Probably pretty good, she used to be Fed Chair so she must be ok with sitting on her hands.

[desmo907]

I hope so...ordered mine last week and got a production number that day.... need that credit to offset some Roth movement

[TurtleBoy]

Originally Posted by outsidepls

It's in the text of the bill that the new battery rules are effective upon issuance of proposed guidance by the Treasury Secretary, who has until 12/31/22 to do so. However, I suspect that this newly published IRS guidance indicates that the Secretary won't do so until the last minute so as to avoid a clustermess.

I would agree, given the wording of yesterday's guidance, the likelihood of the guidance being issued prior to 12/31/22 is very slim.

Just for accuracy, the battery rules would be effective the day after the guidance is issued.

Per vehicle dollar limitation and related requirements
The amendments made by subsections (a) and (e) shall apply to vehicles placed in service after the date on which the proposed guidance described in paragraph (3)(B) of section 30D(e) of the Internal Revenue Code of 1986 (as added by subsection (e)) is issued by the Secretary of the Treasury (or the Secretary's delegate).

[urundai]

Originally Posted by desmo907

I hope so...ordered mine last week and got a production number that day.... need that credit to offset some Roth movement

You are lucky. I ordered mine last week - per dealer, it will take another 3 weeks to get the production number.

[behjjeh]

https://www.cnn.com/2022/08/17/busin...ify/index.html

The Mercedes-Benz EQS SUV is expected by the automaker to be eligible until year's end, but not the EQS sedan because, unlike the SUV, it is not assembled in the United States.

"BMW says the X5 plug-in hybrid and 3-series plug-in hybrid will both be eligible for the rest of 2022."

[Tall Paul]

Originally Posted by behjjeh

"BMW says the X5 plug-in hybrid and 3-series plug-in hybrid will both be eligible for the rest of 2022."

They better tell their CEO so he gets it correct next time (I’m sure it’s too late for the copywriter )

[TurtleBoy]

Originally Posted by Tall Paul

They better tell their CEO so he gets it correct next time (I’m sure it’s too late for the copywriter )

I thought the same thing when I saw that posted.

[rennsportny]

Wait, should I drop my options to bring my MSRP < $80k? Just in case the guidance gets issued before the end of the year. So, that I would at least get the assembly portion of the credit?

Apologizes for all the newb questions

[Tall Paul]

Originally Posted by rennsportny

Wait, should I drop my options to bring my MSRP < $80k? Just in case the guidance gets issued before the end of the year. So, that I would at least get the assembly portion of the credit?

Apologizes for all the newb questions

Many of us believe there is little chance we will see the the guidance before the end of the year, therefore the old rules stay in place (except needing to be built in the US).

If we do, there is little chance that the X5 will qualify the day after the guidance is issued.

Don’t apologize - we are all here to help each other.