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Originally Posted by Taj44
Exactly. Obviously an article in Golf Digest is not the defining authority on IRS regulations. But when you read the magazine article, it is also obvious that The Villages and the golf cart scene is on the IRS radar. Just a heads up to anyone who might be claiming this tax credit.
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The cart manufactures all have IRS letters stating the amount of the credit. I think it would be difficult, but not impossible, for the IRS to rescind those letters.
I suspect that if this credit is extended beyond this year, they may tighten up the rules to eliminate golf carts, or vehicles that can be used for golf carts.
Also, for those that do not maintain their vehicles LSV status after the first year, there could be potential problems with the IRS if they ever find a way to monitor vehicle usage.