To qualify for the federal tax credit for new clean vehicles, including plug-in hybrid electric vehicles (PHEVs), your income must meet specific thresholds. These requirements apply to both new and used vehicles. The income limits are as follows:
- Married Filing Jointly or Surviving Spouse: $150,000 or less
- Head of Household: $112,500 or less
- All Other Filers: $75,000 or less
These income limits ensure that the tax credits are accessible to a broad range of individuals, but they must fall below these thresholds to be eligible. Additionally, the vehicle must meet specific IRS criteria to qualify for the credit.
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