The U.S. Department of the Treasury is making it easier to claim an electric vehicle tax credit worth up to $7,500 starting in 2024,One big change is that you'll qualify for the credit upfront when you buy a car at a dealership, rather than claiming it as part of your tax return — that means you won't have to potentially wait months to get your money back.
The Treasury Department and the IRS are considering public feedback before they finalize the rules later this year. The changes would beHow to qualify for the credit if you buy a new EV In some cases, you might be eligible for a partial credit based on the type of car you buy and where it's made.that you should read carefully before buying a vehicle. Here's a look at a few of the major requirements:
The vehicle must meet various standards for weight, battery capacity and final assembly location, as well as where battery components or critical minerals are sourced.How to qualify for the credit if you buy a used EV
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