Electric Car Tax Credits, Explained
It’s tax season, and though you probably didn’t want to fill out another IRS form, Form 8936 (Qualified Plug-in Electric Drive Motor Vehicle Credit) is worth the effort. The federal tax credit for electric vehicles (EVs) allows you to claim up to $7,500 on your returns for buying a new electric car. Here’s what you need to know about the federal tax credit and how to take advantage of it.
