"2024 Guide to Remaining Electric Vehicles Eligible for U.S. Tax Credits"

The U.S. federal tax credit for electric vehicles (EVs) remains at up to $7,500 under the Inflation Reduction Act, with the credit now available for vehicles purchased between 2023 to 2032. The credit is non-refundable and depends on the buyer's tax liability and the vehicle's specifications, including assembly location and battery component sourcing. The act also introduces a $4,000 credit for used EVs under certain conditions. The IRS has updated guidance to allow for point-of-sale credits starting January 1, 2024. A list of qualifying new BEVs and PHEVs, along with their MSRP limits and credit amounts, is provided, and the article includes details on how to determine vehicle assembly locations using VINs, state tax incentives, and frequently asked questions about the EV tax credit.