If you’re considering buying an electric vehicle, it’s about to get way easier to take advantage of major federal tax credits.
If you’re considering buying an electric vehicle, it’s about to get way easier to take advantage of major federal tax credits.
Starting Jan. 1, 2024, you no longer have to wait to get a $7,500 credit on new EVs or up to $4,000 back on used electrics. The Treasury Department laid out guidance so that car buyers can get the credits at the point of sale.
If you buy an electric vehicle in 2023, you have to wait until you file your tax return to claim the $7,500 or $4,000 tax credits. On top of that, you must have a tax bill that the credit could be put towards.
