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Why the $7,500 electric vehicle tax credit may be easier — and harder — to get in 2024

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The $7,500 tax credit for new electric vehicles will be easier for many consumers to claim in 2024, but it may be more difficult for others. These opposing dynamics are due to federal policies taking effect at the same time.

One policy kicking in Jan. 1 will allow car dealers to give buyers their EV tax break at the point of sale — as cash, a price discount or down payment. Currently, consumers must wait until they file an annual tax return during tax season to receive a financial benefit.

This article was originally published by a www.cnbc.com . Read the Original article here. .

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