Volkswagen ID.4 Drivers Now Eligible for EV Tax Credit

EV Tax Credit at Bob Moore Volkswagen

Volkswagen has announced that recent updates to the EV Tax Credit qualifications now allow ID.4 drivers to be eligible for the government electric vehicle tax credit. This is excellent news for current and prospective ID.4 owners, and they should understand how to claim their credit. At Bob Moore Volkswagen, we proudly offer the electric ID.4 to drivers in the Oklahoma City area interested in making the most of their EV purchases.

Understanding the EV Tax Credit

The federal electric vehicle credit is a government initiative designed to encourage manufacturers and drivers to adopt electric vehicles (EVs) in the United States. This credit can be worth up to $7500, depending on the battery specifications, but Volkswagen officials have stated that the ID.4 will qualify for the full $7500 credit. 

The tax credit is non-refundable, meaning it can only offset the tax liability in the year of purchase. Although, if your liability is less than the value of the credit, you should be able to carry the remaining credit over to the following tax year.

Claiming Your EV Tax Credit

To receive the EV tax credit, you must fill out the IRS Form 8936 and include it with your federal tax return. This form will require information about the vehicle, including the make, model, and battery capacity. It’s recommended to consult with a tax professional to ensure you receive the full amount when filing your taxes.

VW ID.4 at Bob Moore Volkswagen

The Volkswagen ID.4 is the latest edition of VW’s EV lineup, offering an impressive driving range, stylish design, and the latest Volkswagen technology. This purely electric vehicle offers drivers 240 miles on a full charge and an incredible 96/103/88 MPGe (City/Highway/Combined).

With the Volkswagen ID.4 now eligible for the EV tax credit, it is even more appealing to Oklahoma City, Edmond, and Yukon drivers. At Bob Moore Volkswagen, we proudly carry the new ID.4 and encourage drivers to come to experience its performance and innovation in person. Call us at 405-477-1545 to schedule your test drive, or stop by our Oklahoma City Volkswagen dealership in your free time!