EyeOnRivian
Well-Known Member
- Joined
- Feb 14, 2019
- Threads
- 40
- Messages
- 491
- Reaction score
- 435
- Location
- Chicagoland
- Vehicles
- Mach-E 4X, Mitsubishi Endeavor. Pre-order: R1S LE
The U.S. is NOT offering a rebate but a tax credit of up to $7,500. Also, it's not an automatic credit of $7,500. The tax credit is only worth $7,500 to someone whose tax liability at the end of the year is $7,500 or more. So if your tax liability is, say, $5,000, then you can only apply $5,000 of the US EV tax credit to your income tax return.Is the Federal rebate still in effect? I hope it is as that would make purchasing one a little easier on the wallet.
I believe Trump's 2021 budget proposal would eliminate the US tax credit but it is currently still available for 2020.
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