Do I have to owe 7.5k at the end of the year to get the 7.5k rebate? I don’t understand.
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It’s a tax credit so it goes against what you owe at the end of the year in taxes and it doesn’t roll over to the next year. If you don’t own at least 7.5k in federal taxes you will only get a tax credit for what you owe in taxes.
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