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Returning Member

If I paid $7500 federal taxes through payroll deductions in 2023, will the non-refundable $7500 EV tax credit result in a $7500 refund when I file taxes in 2024?

I'm just trying to confirm that although the $7500 EV tax credit is "non-refundable", if I already paid the $7500 in federal tax through payroll deductions (and that is my total federal tax liability for 2023), I would actually get a $7500 refund since my 2023 federal tax liability would be reduced to 0...which I assume means that all the federal tax I paid ($7500) throughout the year via payroll deductions would be returned to me in a tax refund, is that correct? Or am I not understanding how the non-refundable EV tax credit works when I file in 2024?  Thank you in advance for any information you can provide.