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This means vehicles like the Tesla Model 3 RWD (rear-wheel drive), Ford Mustang Mach-E, and Volkswagen ID. 4, among others, are no longer eligible for tax credits.
Wayne Bechtol, a senior tax accountant and board advisor at Fiona, said of the EV tax credit changes: “While it has made the tax break more accessible, it has reduced the number of eligible cars ...
The list of EVs eligible for a $7,500 tax credit got a lot shorter on January 1. ... New requirements for a $7,500 federal tax credit on electric vehicles kicked in on January 1, ...
The Toyota Prius Plug-in Hybrid, released in January 2012, was eligible for a $2,500 tax credit due to its smaller battery capacity of 5.2 kWh. All Tesla cars and Chevrolet Bolts were eligible for the $7,500 tax credit. As granted by the 2009 ARRA, electric vehicles produced after 2010 are eligible for an IRS tax credit from $2,500 to $7,500.
Both the Nissan Leaf electric vehicle and the Chevrolet Volt plug-in hybrid, launched in December 2010, are eligible for the maximum $7,500 tax credit. The Toyota Prius Plug-in Hybrid, released in January 2012, is eligible for a $2,500 tax credit due to its smaller battery capacity of 5.2 kWh.
The U.S. Department of Energy released new information on August 16 outlining 31 makes and models of electric cars that meet the eligibility standard for the credits. Owners can receive up to ...
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