Claim the $7,500 federal EV tax credit now before it expires for 2022


If you want to get a new electric vehicle this year, the rest of this month is likely to be a confusing, tense time. 

Friday, the House is due to return from recess and consider the Inflation Reduction Act (IRA), which includes about $370 billion in energy and climate investments. And while a big piece of that is great news—setting up our supply chain for domestic battery supply and many more American-made EVs in the near future—the revamped EV tax credit that serves to sweeten the deal for vehicle shoppers isn’t going to seem so sweet for a little while. 

That’s because the moment President Biden signs the legislation later in the month, the former version of IRS tax code 30D is no longer valid. 

2022 Ford F-150 Lightning

The new legislation is written with no provision…



Source link

Spread the love

Leave a Reply