Hi All,
I know that EV Tax Credit is not refundable, but how does it work in the example below?
Let's assume that Person 1 works as a Project Manager, and his/her monthly salary is $5,000 Gross; after withholding based on his/her marital status, the take-home amount is $3,800. So by the end of the year, he/she will have approx a $13,000 withholding. Said IRS will say..ok, you owe me $13.000, and you paid it already(the amount was withheld), but you filed an EV Tax credit, so it means that you overpaid me $7,500, so I will send it back to you.
Is that work like that? or will the person not get anything?
