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By Kelley R. Taylor Last updated 4 weeks ago A federal EV tax credit is available under the Inflation Reduction Act (IRA) — a significant piece of legislation aimed at promoting clean energy. The credit can be as high as $7,500 for qualifying electric vehicles (EVs), also referred to as “clean vehicles.” This initiative is…
Understanding the Electric Vehicle Tax Credit A federal EV tax credit is here, thanks to the Inflation Reduction Act (IRA) — significant tax and climate legislation promoting clean energy. The credit of up to $7,500 for certain electric vehicles, called “clean vehicles,” aims to encourage more people to use EVs. However, there are many questions…