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Tax Breaks for New Ford and Porsche Models

2021 – 02/12 New Ford and Porsche models join the ranks of plug-in vehicles available for a lucrative tax break. Buyers of certain electric passenger vehicles and light trucks can claim a credit for up to $7,500. The models added by the IRS to the list of qualifying vehicles are the 2021 Ford Escape Plug-in Hybrid ($6,843 credit) and these 2021 Porsche models: Taycan 4S EV, Taycan Turbo EV and Taycan Turbo S EV ($7,500 credit for any of these Porsche models). The credit is nonrefundable (meaning you can only get a refund up to the tax you owe). The credit availability begins phasing out after a manufacturer has sold at least 200,000 qualifying vehicles in the United States. Contact us with questions.

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