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Car buyers can get their EV tax credits up front at the dealership starting in January | CNN Business (www.cnn.com)
submitted 2 years ago by to c/evs@lemmy.world
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Not much to add. Other than the IRS PDF is written is legalese…

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[–] 4 points 2 years ago (1 child)

I believe with these sorts of things, you're signing it over to the dealership so it goes against THEIR tax burden, not yours.

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  • [–] [S] 2 points 2 years ago

    Currently, if your taxes are under the rebate, your tax incentive is only as good as your taxes are. So if you owe $3k in taxes, you're only getting a $3K tax incentive, regardless of if it's new ($7.5k) or used ($4k).

    I'm seeing the government giving us easier access to that $3K… not granting the full 4k or 7.5k. For simplicity's sake, the full rebate is applied at the dealership, but the difference is still due for that year's taxes.

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