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$7,500 tax credit for EVs start in 2023: How will it work?

December 27, 2022
Source: abc4.com abc4.com
News Snapshot:
WASHINGTON (AP) — Starting Jan. 1, many Americans will qualify for a tax credit of up to $7,500 for buying an electric vehicle. The credit, part of changes enacted in the Inflation Reduction Act, is designed to spur EV sales and reduce greenhouse emissions. But a complex web of requirements, including where vehicles and batteries must be manufactured to qualify, is casting doubt on whether anyone can receive the full $7,500 credit next year. For at least the first two months of 2023, though, a delay in the Treasury Department’s rules for the new benefit will likely make the full...
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