Here’s How You Can Avail The $7500 Electric Vehicle Tax Credit
The $7500 electric vehicle tax credit has been around since 2009, providing an incentive to help those interested in switching to electric vehicles.
To avail this tax credit, you must first purchase or lease a qualifying electric vehicle.
The current qualifying models include all-electric cars and plug-in hybrid cars purchased or leased new in the United States.
You then have to complete IRS Form 8936, which should be filed with your taxes.
Once approved, you will receive a federal income tax credit up to $7500 depending on the vehicle's battery capacity and size of the car.
This can provide considerable savings for anyone interested in switching to an electric car. Make sure you take advantage of this valuable opportunity!