This overview of the federal electric vehicle tax credit in the United States, now officially named the “Clean Vehicle Tax Credit”, has been updated for the 2023 and 2024 tax years and will provide readers everything they’d want to know about EV tax credits, post the Inflation Reduction Act updates. If you’re interested in purchasing a new vehicle, also check out my breakdown of most efficient vehicles, cheapest new vehicles, and cheapest electric vehicles in the U.S. market for 2024. Here’s what we’ll cover in this EV tax credit overview: Pre-2023 Federal Electric Vehicle Tax Credit Overview (Pre-Inflation Reduction Act)
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