American car buyers can get a $7,500 purchase tax credit from the federal government if they buy a qualifying electric vehicle. A loophole related to leasing makes it possible to capture that savings even for vehicles that don’t qualify.
Figuring out the EV purchase tax credit, passed as part of the Inflation Reduction Act, hasn’t been easy for anyone. Changing policies from the Internal Revenue Service add to the complexity.
Source: https://www.barrons.com/articles/ev-tax-credit-loophole-1176?siteid=yhoof2&yptr=yahoo