Quote:
Originally Posted by GrussGott
for example I'm looking at an X5 45e which gets a $7500 federal tax credit; I don't know exactly how that works, but it makes the vehicle way more attractive!
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When you do your taxes for 2020, you get to take $7,500 off what you owe the IRS. If you owe less than $7,500 you won't get a refund, though.