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Car buyers have received more than $1bn in electric vehicle (EV) tax credits through a new program that allows for faster payouts, Treasury Department officials said. The 2022 tax-and-climate law, known as the Inflation Reduction Act, allowed car dealers to receive advanced payments of the $7,500 clean vehicle tax credit - or $4,000 for used vehicles - to transfer those credits directly to the buyer during the sale, rather than the buyer later claiming the credit on their tax return. Previously, consumers had to wait until filing their annual tax return, perhaps months or more than a year after their vehicle purchase, to get the federal credit. Americans can now also get the EV tax credit upfront regardless of their federal tax liability, which wasn’t the case prior to 2024. #atlantacpa...