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Signed into law by President Biden in Aug. 2022, the Inflation Reduction Act authorized tax credits for new and used electric vehicles.Although stricter rules have significantly excluded many new ...
The Inflation Reduction Act that passed last month offers thousands of dollars in tax credits to Americans who buy electric vehicles or make clean energy upgrades to their homes. However, parsing ...
Recent updates: The Inflation Reduction Act of 2022 changed the requirements for EV tax credits, including where EV batteries are made. These changes apply to vehicles placed in service from Jan ...
Tucked inside the massive Inflation Reduction Act of 2022 that was signed into law in August is a complex set of requirements around which EVs and other clean vehicles do and do not qualify for a ...
In addition, under the Inflation Reduction Act, buyers of used cars could receive a $4,000 credit. However, the sale price of the vehicle can’t exceed $25,000, according to the text of the bill ...
The Act extends the $7,500 Section 30D tax credit [115] for the purchase of new electric vehicles while also providing the $4,000 Section 25E tax credit [116] toward the purchase of used electric vehicles, in an effort to increase low- and middle-income access to this technology. [117]
New provisions for electric cars and plug-in hybrids don't incentivize purchases so much as promote domestic production.
The Treasury Department announced on Dec. 1, 2023, an update on the Inflation Reduction Act (IRA) credit rules involving “foreign entity of concern (FEOC) requirements.” Said entities include ...