EV buyers will get an instant rebate for every car purchased starting in 2024

Car dealers can give buyers an instant rebate for purchasing certain electric vehicles starting in January of 2024, according to new guidance released by the IRS. The memo says eligible vehicles may qualify for a tax credit of up to $7,500. However, the credit amount will depend on whether an EV and its buyer meet certain requirements, and when a car is actually purchased. For an electric car to qualify, it needs to have a minimum battery capacity of seven kilowatt hours. Buyers can't claim the ...