In what situation will I get ev car credit

[vivek_arya1]

I have have a projected federal tax liability of 10000 for 2018, with a tax with holding of 12000 by my employer. Under normal circumstances, I would be due back a tax refund of 2000.

If I buy an EV car before the end of the year (eligible for 7500 tax credit), will I actually get back 9500 instead ?

[TaxGuyBill · Accepted solution]

Yes (assuming you otherwise qualify for the credit and your projections are accurate).

One slight 'catch' is that you must be talking about a projected federal income tax liability of over $7500.  The credit can not offset other taxes (such as Self Employment tax) or penalties.