From Dow Jones & Company:

Navigating the tax code may be the biggest challenge for electric vehicle owners, as changes to the law now allow buyers to receive up to $7,500 in tax savings right at the dealership. However, those who purchased an EV last year will have to wait until 2023 to claim the tax credit on their tax return. These changes went into effect on January 1, 2024, making it important for potential EV buyers to understand the impact on their finances. (100 words)



Read more: EV Tax Credit: How It Works and Which Vehicles Qualify