Form 8936, Clean Vehicle Credit

Introduction

Form 8936, Clean Vehicle Credit form, is designed to support individuals and businesses looking to claim tax credits for purchasing qualified plug-in electric drive motor vehicles. These credits are part of a broader initiative to promote eco-friendly transportation, rewarding those who choose vehicles that reduce environmental impact.

For tax-exempt organizations filing Form 990-T, this form provides an opportunity to offset unrelated business income tax (UBIT) through credits for purchasing qualified plug-in electric drive motor vehicles.

In this resource guide, we’ll cover everything you need to know about Form 8936, including filing requirements, who must file, and answers to commonly asked questions.

What is Form 8936?

Form 8936, Clean Vehicle Credit, allows taxpayers to claim credits for purchasing eligible plug-in electric vehicles. Tax-exempt organizations use this form to figure out the following credits for clean vehicles you placed in service during your tax year.

• New clean vehicle credit.
• Previously owned clean vehicle credit.
• Qualified commercial clean vehicle credit.

Who must file Form 8936?

Taxpayers, both individuals and businesses, who purchase or lease a qualifying plug-in electric drive motor vehicle during the tax year must file Form 8936 to claim the Clean Vehicle Credit. This includes individuals, partnerships, S corporations, and estates and trusts.

However, not every electric vehicle qualifies, so it’s essential to confirm that the vehicle is eligible under the current IRS guidelines before filing.

Choose TaxZerone to complete your Form 8936 filing

As an esteemed IRS-authorized e-file service provider, we at TaxZerone promise more than just updates – we promise instant insights into your 990-T tax-exempt return filing status, putting you in control at every turn.

At TaxZerone, it's not just about filing; it's about a seamless e-filing experience crafted just for you!

Here's how your Form 990-T return with 8936 attachment is transmitted to the IRS in 3 simple steps!

1. Provide Organization Details - Choose the tax year for which you want to file the 990-T return, and provide your organization’s details.
2. Preview Form 8936 - Attach 8936 to claim tax credits for clean vehicles used by your organization’s purpose and preview the information provided in the return for accuracy before transmitting.
3. Transmit to the IRS - Transmit Form 8936 along with your 990-T Return to the IRS and get the acceptance in just a few hours.

Even if the IRS rejects your 990-T return due to any reason, you can correct and retransmit it to the IRS for free! With TaxZerone, you're not alone – we're your partners in success.