there are many rules that have to be met to qualify for the credit. see the following iRS link:
https://www.irs.gov/credits-deductions/credits-for-new-clean-vehicles-purchased-in-2023-or-after
say you qualify and your tax liability before the credit is $20.0K. if you qualify for the full $7.5k credit your tax liability will be reduced to $12.5K with $19.0K in withholding you will get a refund of $6.5K.
don't know what makes up your taxes but basically the taxes that can be offset are the taxes on 1040 line 18 less certain personal credits per the Form 8936. Additional taxes on schedule 3 cannot be offset for example, self-employment tax.
so if you had $6K in regular income taxes and $14K in self-employment taxes only $6K of the credit could be used the rest would be lost.
