![]() ![]() Information about vehicles purchased in 2022 and before or for vehicles purchased in 2023 and after. Treasury and the Internal Revenue Service will release more information on all the clean vehicle credits in the coming months. Separately, starting in 2023, the Inflation Reduction Act also establishes tax credits for pre-owned clean vehicles (section 25E) and for commercial clean vehicles (section 45W). Many new electric or hybrid vehicle models are eligible for a federal income tax credit. New Requirements Effective April 18, see links below for details. Plug-in hybrid car or truck or electric motorcycle: 500 rebate. ![]() Overall, the reforms in the Inflation Reduction Act mean that the tax credit for electric vehicles will evolve considerably over the coming months and years. Further changes to the eligibility rules began in 2023. Effective immediately after enactment of the Inflation Reduction Act (after August 16, 2022), the tax credit is only available for qualifying electric vehicles for which final assembly occurred in North America. ![]() The Inflation Reduction Act introduces a number of significant changes to the tax credit for new electric vehicles (section 30D). ![]()
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