Electric vehicles are typically seen as expensive cars to own. But an updated, federal tax program designed to make them more affordable could credit you up to $7,500 for purchasing a new clean vehicle.
Throughout January, the government has been ironing out details of its new EV tax credit program, just as many Americans head into tax season. Some of the new changes, enacted by the passage of the Inflation Reduction Act, broaden the scope for eligibility, making more buyers and lessors qualify for some amount of tax credit.
For instance, starting in 2023, people who purchased used vehicles also qualify for a smaller credit amount.
