Inflation reduction act

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 potential tax credits.  This guidance was made available on December 29th, 2022, and relevant links to the EV purchase specifics are posted in the Useful Links section below.

Additionally, there is a new IRS Page of Frequently Asked Questions for New, Previously-Owned, and Qualified Commercial Clean Vehicle Credits here, also published in late December 2022:

https://www.irs.gov/newsroom/frequently-asked-questions-about-the-new-previously-owned-and-qualified-commercial-clean-vehicles-credit

This IRS FAQ page has a link to a 10-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/