"Updated EV Tax Credit Eligibility: 13 Models Qualify, with Alternatives for Faster Discounts"
The IRS has updated the electric vehicle tax credit rules for 2024, reducing the number of eligible vehicles for the federal tax credit and the maximum amount available. However, consumers can now receive the credit at the time of purchase rather than waiting for tax filing, and leasing offers a way to benefit from credits on ineligible vehicles. State and local incentives remain unaffected. Automakers are adapting to these changes by shifting their supply chains, which could make more models eligible in the future. The eligibility of specific vehicles, including popular models like the Tesla Model 3 and Ford F-150 Lightning, can be checked using the VIN on the IRS website.
- EV tax credits just changed again: Here’s where you can still get discounts CNN
- GM to offer $7500 discount on EVs that don't qualify for tax credit in 2024 Detroit Free Press
- Electric Car Models Eligible for $7,500 Tax Credit Cut to 13 Yahoo Finance
- Only 13 Cars Qualify For 2024 EV Tax Credit Under New Rules Bloomberg
- EV tax credit changes: fewer eligible vehicles, but you can get the credits faster Business Insider
Reading Insights
0
1
4 min
vs 5 min read
87%
858 → 111 words
Want the full story? Read the original article
Read on CNN