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UserRemoved1 · 06-02-2011, 06:54 PM

Some more VOLTAGE ( I kill myself sometimes)

Some Volt dealers take tax credit themselves - Business - Autos - msnbc.com

"the asking price of $39,995 is a modest discount off the $41,000 sticker price. But a salesman at the suburban Los Angeles showroom said he did not believe the three Volts would qualify for the $7,500 federal tax credit allocated for buyers of new battery vehicles."

"“Many Volts with practically no miles on them are being sold as ‘used’ vehicles, enabling the dealerships to benefit from the $7,500 credit supplied by the American taxpayers on each car,” NLPC’s Mark Modica said in a blog post on the practice. “The process of titling the Volts technically makes the dealerships the first owners of the vehicles, which gives them the ability to claim the subsidies. The cars are then offered to retail customers as ‘used’ vehicles."

"Modica, a former Saturn dealership manager, said in an interview he was reluctant to call the process a “scam,” preferring to describe it as “gaming the system.” Though it may technically be legal, “it is not right,” he said."

"A spokesman for the Internal Revenue Service declined to comment beyond pointing to the language of the tax code passed by Congress to help promote the sale of battery vehicles. According to Title 26 Section 30D, a vehicle qualifies for the credit when:
(a) The original use (of the vehicle) "commences with the taxpayer," or
(b) The vehicle "is acquired for use or lease by the taxpayer and not for resale."

"the Treasury's inspector general for tax administration revealed earlier this year that as much as $33 million in improper battery car tax credits had so far been claimed, as much as $7 million of that figure considered unrecoverable."

So the IRS SAYS it's illegal, they know it's happening, and they allow it to happen.

Nice. These guys should be brought up on charges then. Never happen. Too busy playing golf. That's alot of money.

06-02-2011, 06:54 PM	#20
UserRemoved1 Permanently Disconnected iTrader: (-9) Join Date: Nov 2002 Posts: 12,647	Some more VOLTAGE ( I kill myself sometimes) Some Volt dealers take tax credit themselves - Business - Autos - msnbc.com "the asking price of $39,995 is a modest discount off the $41,000 sticker price. But a salesman at the suburban Los Angeles showroom said he did not believe the three Volts would qualify for the $7,500 federal tax credit allocated for buyers of new battery vehicles." "“Many Volts with practically no miles on them are being sold as ‘used’ vehicles, enabling the dealerships to benefit from the $7,500 credit supplied by the American taxpayers on each car,” NLPC’s Mark Modica said in a blog post on the practice. “The process of titling the Volts technically makes the dealerships the first owners of the vehicles, which gives them the ability to claim the subsidies. The cars are then offered to retail customers as ‘used’ vehicles." "Modica, a former Saturn dealership manager, said in an interview he was reluctant to call the process a “scam,” preferring to describe it as “gaming the system.” Though it may technically be legal, “it is not right,” he said." "A spokesman for the Internal Revenue Service declined to comment beyond pointing to the language of the tax code passed by Congress to help promote the sale of battery vehicles. According to Title 26 Section 30D, a vehicle qualifies for the credit when: (a) The original use (of the vehicle) "commences with the taxpayer," or (b) The vehicle "is acquired for use or lease by the taxpayer and not for resale." "the Treasury's inspector general for tax administration revealed earlier this year that as much as $33 million in improper battery car tax credits had so far been claimed, as much as $7 million of that figure considered unrecoverable." So the IRS SAYS it's illegal, they know it's happening, and they allow it to happen. Nice. These guys should be brought up on charges then. Never happen. Too busy playing golf. That's alot of money.