Kristina Meier, a physicist who bought a plug-in electric minivan, thought she met all the requirements for the federal EV tax credit. However, her dealership failed to correctly report the sale to the IRS, leading to the rejection of her claim. The 2024 changes to the EV tax credit aimed to facilitate access, especially for lower-income buyers, introducing an up-front rebate option in addition to stricter requirements for new vehicles. While many benefited from the quicker relief, some, like Meier, still faced hurdles due to dealer errors.
But a few weeks ago, when Meier tried to claim the EV tax credit, the IRS rejected her return. She'd done everything right but her dealer hadn't.
The EV tax credit has been around for years, but after the Inflation Reduction Act passed during the Biden administration, it got a shake-up.
Now there's also a credit for used vehicles, as well as stricter battery-sourcing requirements for new ones.
That means instead of waiting for months to get a credit on their tax returns, buyers can get the credit knocked off the price of a vehicle.
Collection
[
|
...
]