"Equal Opportunity: Low-Income Buyers Eligible for Full $7500 EV Tax Credit"
Originally Published 2 years ago — by Electrek
The IRS has released new guidance on the electric vehicle (EV) tax credit, stating that starting next year, low- and middle-income buyers will be eligible for the full $7,500 credit even if they don't have enough tax liability. The changes include making the credit available upfront at the point of sale and allowing buyers to transfer the credit to the dealership. This eliminates the income cap for low and middle-income buyers, making EVs more accessible to them. The changes go into effect on January 1, 2024.