Electric Car 7500 Federal Tax Credit. The federal tax credit isn't applicable to an electric vehicle being purchased for the purpose of reselling it. The full GOP House tax bill has been released and as expected earlier this morning , it does include the end of the federal tax credit for electric vehicles.
It will remain at that level for.
Should there be a tax break for buying an electric car?
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You must have a federal tax liability in the year you purchase an electric car or plug-in hybrid to. One of TIGTA's recommendations that the IRS agreed with is for the IRS to develop a compliance program and take appropriate enforcement action. How Do You Claim the Electric Vehicle Tax Credit?