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Income limits: There are income limits for both new and used EV tax credits. For new EVs, your AGI must be below $300,000 for married filing jointly, $225,000 for head of household and $150,000 ...
There is good news and bad news on the horizon if you are thinking of purchasing an electric vehicle (EV). ... The income caps for new vehicles are $300,000 for married couples who file together ...
Currently, the tax credit for purchasing a qualifying new battery-electric and plug-in hybrid vehicles is either $3750 or $7500. Used EVs and PHEVs sold for $25,000 or less are also eligible for a ...
The Treasury Department says the near-instant credits of $7,500 for an eligible new vehicle and $4,000 for a qualifying used vehicle should lower purchasing costs for consumers and help car ...
Up until five days ago, car buyers had to wait until they filed their federal income taxes to receive the benefits of the federal electric vehicle (EV) tax credit.However, changes to EV tax breaks ...
And there are no limits on where or how the car was made -- you can choose a much wider range of makes and models if you get a used EV tax credit. I'm not in the market for a car in 2024. But if I ...
From the November 2022 issue of Car and Driver.. On August 15, about 30 new EVs and 42 plug-in hybrids were eligible for federal income-tax credits. On August 16, those numbers fell to eight and 10.
New requirements for a $7,500 federal tax credit on electric vehicles ... The Chevrolet Bolt has long been one of the most inexpensive electric vehicle options. With an MSRP limit of $55,000, it ...