New EV Tax Credit Rules Help Low-Income Consumers ...Middle East

Starting on January 1st, eligible consumers who purchase a qualified electric vehicle will be able to collect their federal tax credit at the point of sale. The current rules require taxpayers to apply for the credit when they file their taxes and then wait to receive the benefit. The new “cash-on-the-hood” option is likely to increase the effectiveness of the incentive by offsetting the purchase price of an EV immediately.

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