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Even finer print: the $7,500 federal incentive is a tax rebate. If you don't have a $7,500 tax liability, you won't get the full amount. (this also applies if
by floxy 1y ago
Even finer print: the $7,500 federal incentive is a tax rebate. If you don't have a $7,500 tax liability, you won't get the full amount. (this also applies if you transfer the credit to the dealer at point of sale). I mean, money is fungible and all, but your particular tax dollars aren't going to people who buy EVs, they are just paying less in taxes.
- PopAlongKid 1y ago>this also applies if you transfer the credit to the dealer at point of sale No, it does not. See Q4 at the following link: https://www.irs.gov/newsroom/topic-h-frequently-asked-questions-about-transfer-of-new-clean-vehicle-credit-and-previously-owned-clean-vehicles-credit https://www.irs.gov/newsroom/topic-h-frequently-asked-questi...
- floxy 1y agoMy understanding is that the dealer has to have the tax liability. IANATL, YMMV.
- morepedantic 1y ago>money is fungible And then you contradicted yourself 2 phrases over.