Hi everyone. Each year, my payroll company calculates my taxes to where to owe nothing at the end of the year, nor do I get a refund, which is totally fine with me. However, I purchased a new Tesla Model Y, which I'm told is now again eligible for the $7500 credit. My understanding is that the credit is only good for tax liability, meaning that it only helps if I owe money at the end of the year. I'm thinking about updating my tax situation with my payroll company to not pay taxes the rest of the year to be able to take advantage of the credit.
Is this a bad idea? Are there penalties involved in doing this?
Thanks in advance.
