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re: Flex Fuel Credit-FYI from the LCPA
Posted on 11/1/16 at 9:31 am to failuretocommunicate
Posted on 11/1/16 at 9:31 am to failuretocommunicate
Bump for an update
LDR beat me down to 1,500 also. They claimed that 1,500 is what the credit is now and since it was an amended return and not an originally filed return that is what the credit would be (and they'd send the check immediately... or i could take it up with the board of tax appeals). I caved.....received the check plus interest yesterday.
LDR beat me down to 1,500 also. They claimed that 1,500 is what the credit is now and since it was an amended return and not an originally filed return that is what the credit would be (and they'd send the check immediately... or i could take it up with the board of tax appeals). I caved.....received the check plus interest yesterday.
2
Posted on 11/1/16 at 10:01 am to failuretocommunicate
First I have heard of this, just did some googling and found this
"The relevant version of the credit statute was the version in effect in 2011 when the taxpayers purchased the vehicle, not the 2013 amended version which subsequently disallowed the credit for FFVs. The court held that until taxable years beginning January 1, 2014, purchases of FFVs such as the one purchased by the taxpayers were eligible for the alternative fuel tax credit."
So does this mean a Flex Fuel truck purchased in May of 2013 would be eligible for an amended return for the 2013 tax year?
"The relevant version of the credit statute was the version in effect in 2011 when the taxpayers purchased the vehicle, not the 2013 amended version which subsequently disallowed the credit for FFVs. The court held that until taxable years beginning January 1, 2014, purchases of FFVs such as the one purchased by the taxpayers were eligible for the alternative fuel tax credit."
So does this mean a Flex Fuel truck purchased in May of 2013 would be eligible for an amended return for the 2013 tax year?
Posted on 11/1/16 at 8:28 pm to failuretocommunicate
I have not responded yet but the statutory language has to be retroactive. That's the crux of the case which they repeatedly lost and which has now forced the ldr to start paying out these claims.
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