My 2010 IRS tax refund arrived, but the $7500 Volt credit had been "adjusted" away!
My federal income tax refund for 2010 was credited to my bank account on
March 11th, but it was $7500 lower than I expected it to be. Coincidentally
$7500 is the amount of the "Qualified Plug-in Electric Drive Motor Vehicle
Credit" I claimed for purchasing a Chevy Volt in December.
I called the IRS and waited on hold for about half an hour. What she said
was that an "adjustment" of $7500 had been made on line 53 of form 1040,
which is the plug-in credit line. The adjustment was made "in process," she
said, whatever that means.
She couldn't tell me why the $7500 was adjusted away. All she could tell
me is that a notice is scheduled to be sent to me on March 21st that will
give some kind of explanation and a person's name I should be able to
contact. She was unable to divulge the contents of this notice, nor tell
me anyone I might be able to contact before I receive the notice.
The Volt is indeed included on the IRS's list of qualifying vehicles at
http://www.irs.gov/businesses/article/0,,id=219867,00.html so I'm not
sure why it would be disallowed. (I did spell "Chevy," not "Chevrolet"
or "General Motors," on the form—please tell me that wasn't it.)
I wonder if this might have something to do with the plug-in tax credit
abuse story that hit the newspapers and TV news last month. (See
http://news.yahoo.com/s/ap/20110203/ap_on_re_us/us_electric_cars_tax_credits - "The IRS
said it was 'taking aggressive steps to recapture the credits people
erroneously claimed.'")
Is anyone else having similar trouble? This is very frustrating.
My federal income tax refund for 2010 was credited to my bank account on
March 11th, but it was $7500 lower than I expected it to be. Coincidentally
$7500 is the amount of the "Qualified Plug-in Electric Drive Motor Vehicle
Credit" I claimed for purchasing a Chevy Volt in December.
I called the IRS and waited on hold for about half an hour. What she said
was that an "adjustment" of $7500 had been made on line 53 of form 1040,
which is the plug-in credit line. The adjustment was made "in process," she
said, whatever that means.
She couldn't tell me why the $7500 was adjusted away. All she could tell
me is that a notice is scheduled to be sent to me on March 21st that will
give some kind of explanation and a person's name I should be able to
contact. She was unable to divulge the contents of this notice, nor tell
me anyone I might be able to contact before I receive the notice.
The Volt is indeed included on the IRS's list of qualifying vehicles at
http://www.irs.gov/businesses/article/0,,id=219867,00.html so I'm not
sure why it would be disallowed. (I did spell "Chevy," not "Chevrolet"
or "General Motors," on the form—please tell me that wasn't it.)
I wonder if this might have something to do with the plug-in tax credit
abuse story that hit the newspapers and TV news last month. (See
http://news.yahoo.com/s/ap/20110203/ap_on_re_us/us_electric_cars_tax_credits - "The IRS
said it was 'taking aggressive steps to recapture the credits people
erroneously claimed.'")
Is anyone else having similar trouble? This is very frustrating.