Everything You Need to Know About Electric Vehicle Tax Credits

Everything You Need to Know About Electric Vehicle Tax Credits

The Electric Vehicle Tax Credit is a federal tax credit that applies to all-electric and plug-in hybrid cars purchased new in or after 2010. Congress recently passed the Inflation Reduction Act of 2022, which significantly changed the credit amounts and requirements for clean energy vehicles. Here is what you need to know about the new electric vehicle (EV) tax credit.