Here we go how EV tax works!
For example 1:
Total Tax Liability for a fiscal year: $30,000
Taxes withheld: $26,000 (Meaning you have already paid)
Tax credit applied at filing: -$7500 (Negative $7500)
New Net Total Tax Liability for A fiscal year: $30,000 - $7500 = $22500
Taxes due (or Refund)...