The federal tax credit of up to $7,500 for EVs came thanks to the Inflation Reduction Act (IRA). But ever since the electric vehicle tax credit was announced, there have been questions and confusion over everything from the EV tax credit income limit to which cars do or don’t qualify for the tax break.
And if you thought you finally understood how the EV tax credit works, look again. Some changes are coming on Jan. 1 for the 2024 electric vehicle tax credit you need to know now. If you want to buy an EV, these changes include both good and not-great news for some consumers.
