Tax Credit Not Available Till Feb 3rd

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Old Jan 27, 2007 | 12:24 PM
  #1  
GunnyE7T's Avatar
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Default Tax Credit Not Available Till Feb 3rd

Just came from H&R and due to IRS regulations the Hybrid tax credit cannot be claimed till Feb 3rd.

When the preparer went to look for the form the entry for the form was greyed out.

Something about "Tier 2" is when the IRS will make Form 8910 available.

For what it's worth.
 
Old Jan 27, 2007 | 02:07 PM
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Default Re: Tax Credit Not Available Till Feb 3rd

Originally Posted by GunnyE7T
Just came from H&R and due to IRS regulations the Hybrid tax credit cannot be claimed till Feb 3rd.

When the preparer went to look for the form the entry for the form was greyed out.

Something about "Tier 2" is when the IRS will make Form 8910 available.

For what it's worth.
Turbotax let me file electronically with the alternative fuel tax credit. But Turbotax doesn't use paper forms when you file. It did flag the form as "not final" but still let it go through. Maybe there is an advantage when you "Talk to the box" ? Or maybe an ammended return is in my future?
 

Last edited by schmidtj; Jan 27, 2007 at 04:40 PM.
Old Jan 27, 2007 | 04:49 PM
  #3  
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Default Re: Tax Credit Not Available Till Feb 3rd

Originally Posted by schmidtj
Turbotax let me file electronically with the alternative fuel tax credit. But Turbotax doesn't use paper forms when you file. It did flag the form as "not final" but still let it go through. Maybe there is an advantage when you "Talk to the box" ? Or maybe an ammended return is in my future?
TurboTax told me the Hybrid form wasn't available. I think you'll be filing an amended return. How exactly did you file for an alternative fuel credit?
 

Last edited by jay_man2; Jan 27, 2007 at 05:43 PM.
Old Jan 27, 2007 | 04:55 PM
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Default Re: Tax Credit Not Available Till Feb 3rd

I have been using TaxCut online, and I have not been able to find the part that covers the hybrid tax credit. The section talks about the alternative fuel vehicle credit being covered in that section, but it doesn't appear. I assumed that I would have to wait until the forms were finalized.
 
Old Jan 27, 2007 | 05:10 PM
  #5  
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Default Re: Tax Credit Not Available Till Feb 3rd

Early in the interview it asked if I purchased a Hybrid or Electric vehicle. Later it asks for year/model date of purchase and date put in service. $2600 (for me) ends up on line 55 of the 1040. I am using TurboTax 2006 Deluxe for Federal and State.
Hmmmmm.
I opted to let it do it's own updates without prompting FWIW.

Update: I did a little googling and it seems TurboTax will let you e-File but warns you you have a Non-Final form if you paper file. Hmmm? I guess the $14.95 gets you a better chance of being audited? At any rate my e-File shows "Accepted" for both Federal and State with the Alternate Fuel Credit included. Go figure.

ymmv
 

Last edited by schmidtj; Jan 28, 2007 at 04:19 AM.
Old Jan 28, 2007 | 08:11 AM
  #6  
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Default Re: Tax Credit Not Available Till Feb 3rd

Per TurboTax's forms availability schedule, the necessary form for the Alternative Motor Vehicle Credit (form 8910) won't be available through TurboTax until 2/16.

The way tax forms in software works is:

1) First the taxing authority drafts and approves the contents of the form.
2) The software vendor generates its implementation of the form and submits it to the taxing authority for approval.
3) The taxing authority approves the form and the software vendor releases it to their customers.

There can be forms released in "provisional" status, though I'm not sure how this impacts the validity of the return (that is, whether an ammended return with an approved form will need to be files subsequently).
 
Old Jan 28, 2007 | 08:20 AM
  #7  
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Default Re: Tax Credit Not Available Till Feb 3rd

This is interesting. I think I have uncovered a "bug/feature" in TTDx.
The TT web site says 8910 isn't even available for eFile but it seems
(for me) it was. I guess I'm just "special" like Mr. Rogers use to tell me.
 

Last edited by schmidtj; Jan 28, 2007 at 08:22 AM.
Old Jan 28, 2007 | 07:05 PM
  #8  
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Default Re: Tax Credit Not Available Till Feb 3rd

I guess if you mail it in everything will be fine. We were planning on getting our accountant at work to do it electronicly, I am not sure what software she uses.
 
Old Jan 29, 2007 | 06:35 AM
  #9  
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Default Re: Tax Credit Not Available Till Feb 3rd

Originally Posted by turk
Per TurboTax's forms availability schedule, the necessary form for the Alternative Motor Vehicle Credit (form 8910) won't be available through TurboTax until 2/16.
Yea, I just tripped over that TurboTax will not have the 8910 available, in its final form suitable for filing, until 2/16.
 
Old Jan 30, 2007 | 09:20 AM
  #10  
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Default Re: Tax Credit Not Available Till Feb 3rd

Thanks for the info - another reason I love this site!
 


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