Americans can get $4,000 in free money if they meet the five criteria under the program called Clean Car Credit.
$4,000 in Free Money
Millions of Americans are now looking for free money that will help them fight the rising inflation rate. This tax season there are different tax credits, rebates, and refunds. One of them is the $4,000 under the Clean Car Credit.
In a published article in The U.S. Sun, those who purchased qualified electric cars from January 1, 2023 may be eligible to receive a $4,000 Clean Car Credit. Additionally, these cars must have been purchased from a licensed dealer for $25,000 or less.
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5 Criteria for Clean Car Credit
According to an article published in NerdWallet, there are five criteria to meet in order to be eligible for the used clean vehicle tax credit and these are the following:
- You must have bought the vehicle for use and not resale
- You must not be the original owner of the vehicle
- You must not be claimed as a dependent on another person’s tax return
- You must not have claimed another used clean vehicle credit in the three years prior to the car’s purchase date
- Your modified adjusted gross income (AGI) may not exceed $150,000 for married filing jointly or a surviving spouse; $112,500 for heads of households; $75,000 for all other filers
Furthermore, those who want to claim their $4,000 Clean Car Credit should fill up the form 8936 from the IRS website.
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