Getting a $7,500 tax credit for an electric car will soon get a lot easier
Buyers will be able to take advantage of the tax credit at the dealership when purchasing an electric vehicle. And they'll be available even for those who pay little or no taxes.
Getting a federal tax credit for buying an electric vehicle is about to get a lot easier — or at least, a lot faster.
Starting in January, EV car shoppers won't have to wait until tax season to pocket the incentive, worth up to $7,500. Instead, the credit will be available as cash in hand on the day of purchase — and it'll be available regardless of the size of a customer's tax bill.
That's how Congress wanted these incentives to work when they passed them as part of
