Gigapress
Trying to be less wrong
Even more importantly, the IRA appears to allow the eligible taxpayer to transfer their clean vehicle credit to the dealer that sells them the car so as to get the benefit immediately at the time of sale via a direct payment from the dealer. In this way the IRA basically converted a tax credit into a direct subsidy.Has no relevance. It doesn't matter if you owe tax at the end of the year or not. (Only your total tax liability for the year matters.)
Nope. You can adjust your withholdings to start "reaping the rewards" at any time during the year. (Or if you don't have a job and live off of capital gains, you can reduce your estimated tax payments.)
The main question I'd have is whether the term "dealer which sold such vehicle to the taxpayer" would somehow not apply to Tesla on a technicality because they do online ordering and in many states have been arguing in court that they don't have dealerships.
Key excerpts:
...
I'm not a lawyer or tax professional. This is not advice.
Edit: Not until 2024 though, see posts below.
Last edited: