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The Electric Vehicle (EV) tax credit presents an exciting opportunity for eligible buyers. The government has introduced a new process allowing buyers to transfer their federal tax credit directly to the dealer as cash down. This means that instead of waiting to claim the credit when filing taxes, buyers can use the credit immediately to reduce the overall cost of their electric vehicle. In the case of state tax credits, these will retain the same application process, which will take place during your yearly tax appointment. Customers may not have a modified adjusted gross income (AGI) that exceeds the limit for their filing status. $300,000 or less for married couples filing jointly, $225,000 or less for heads of households, or $150,000 or less for all other filers. Consumers will ultimately remain responsible for ensuring they meet the income requirement for the credit. If a taxpayer takes the rebate but is not eligible for it, they will be required to pay the IRS back when they file their tax return. See www.fueleconomy.gov for more details.