Inflation reduction act
IRA SignED on 8/16/2022 - GUIDANCE UPDATED 4/18/2023
The Inflation Reduction Act of 2022 (IRA) changed the eligibility rules and potential credit amounts available on clean vehicle tax credits across the board.
The U.S. Treasury Department and IRS released updated guidance on clean vehicle purchases and how the new Inflation Reduction Act applies to tax credits on April 18th, 2023. MSRP caps changed and eligible EV Models have been updated.
The relevant links to EV purchase specifics are posted in the Useful Links section below.
Purchasing a New or Used Clean Vehicle ON or AFTER April 18th, 2023? Find your tax credit info here:
https://www.irs.gov/credits-deductions/credits-for-new-clean-vehicles-purchased-in-2023-or-after
This IRS has a link to an updated 13-page Fact Sheet PDF with information on clean vehicle tax credits.
Have a resource you would like us to consider adding? Send it to us at info@DriveElectricColumbus.com
We are aware of the proposed legislation by Senator Manchin taking aim at the delay in the IRS Guidance being issued for the battery mineral sourcing portions of the IRA. We do not expect this bill to pass but will continue to watch it and update as needed. For more information on Sen. Manchin's proposed bill see - https://thehill.com/policy/energy-environment/3829313-manchin-takes-aim-at-treasury-delay-for-ev-tax-credit-restrictions/
