I am single
My last year AGI was < 150k
My current year AGI might exceed 150k (as I might receive pay raise) , so if I purchase eligible car in July 2023 will i be eligible for federal and state tax credit in 2024 return?
Further questions..
1) every pay cheque my employer deduct standard federal and state tax and at the end of year I generally get tax refund upon tax filling, so my question is: if i have more than 7500$ federal tax (regardless what i paid/owe) i will be getting whatever refund + 7500 right?
for ex 17000 total Federal tax, 20000 i already paid through out year, am about to get 3k refund + 7500 ev credit?
2) if not should i update my tax withholding so that at the end of year i owe tax and federal tax will reduce it out?
for ex 17000 total Federal tax, 12000 i already paid, i owe 5k +7500 = 2500 refund
3) are there any state rebate criteria (ie income limit?) i live in colorado
