Federal Tax Credit for Electric Vehicles

tax

It’s that time of year again! Tax season is just around the corner. In fact, it actually begins a bit later this year. It was recently announced by the Internal Revenue Service that filing will start on Friday, Feb. 12, 2021, rather than the usual month of January. This is a slight delay, but it does give individuals a little more time if needed.

With every new year comes tax season. Many are already getting papers together and information organized to file. It’s always a good idea to start early so you aren’t rushed trying to gather the appropriate materials and file at the last minute. You want to have ample time to do it right.

You may not be aware, but there is a federal tax credit for electric vehicles. The perks of making the decision to purchase an electric vehicle are numerous. Not only are you being environmentally conscious, but you also may qualify for these particular savings.

Several factors go into the amount of credit you may qualify for, including your income tax and the size of the electric battery of the vehicle you own. One thing is certain, this federal tax credit applies to new electric and plug-in hybrid vehicles purchased in or after 2010. It’s important to do your research to determine eligibility. Click here for more information and details. Going green has its benefits. More than you may have even realized!

Visit Autopark Honda in Cary, North Carolina, and learn more about Honda electric and hybrid vehicles. We look forward to seeing you!

Federal Tax Credit for Electric Vehicles was last modified: January 26th, 2021 by Autopark Honda