If you are considering purchasing an electric vehicle (EV) or a fuel cell vehicle (FCV) in 2023, you may be eligible for a tax credit up to $7500 thanks to the Inflation Reduction Act of 2022. Clean vehicle purchases made in 2022 and earlier may also be eligible.
The credit is available to individuals and businesses, and can only be claimed in the year the clean vehicle is purchased. The IRS Clean Vehicle Tax Credit website provides valuable information on qualifying for this tax credit.
In addition, below are links to informational posters and checklists provided by the IRS.
- Used clean vehicle
- Clean Vehicle
- Commercial Clean Vehicle
- New Clean Vehicle Tax Credit Checklist
- Used Clean Vehicle Tax Credit Checklist
- Clean Vehicle Credit Transfer
If you have additional questions regarding the Clean Vehicle Tax Credit, please contact our office at 602.776.6300.
Price Kong is committed to providing personalized service and advice to our clients. Our full range of accounting and consulting services enables us to assist clients with understanding unique situation and ensure they receive expert support, regardless of the engagement or project. Price Kong is a member of Allinial Global, a consortium of 90 North American Certified Public Accounting firms, and numerous professional and industry organizations. pricekong.com | 602.776.6300 | info@pkcpa.com