What we can VERIFY about the EV tax credit in 2024

The Inflation Reduction Act made significant changes to the kinds of tax credits people could get for buying electric vehicles in the U.S. Under the law, which President Biden signed in August 2022, taxpayers who purchase certain new or used electric vehicles or plug-in hybrids may be eligible for a federal income tax credit of up to $7,500. The tax credit will be available to qualifying taxpayers until 2032. On Jan. 1, 2024, the government rolled out new eligibility rules for the tax credit. Recent online search trends show many people want to know what’s changed and which EVs qualify for the tax credit. Here’s what we can VERIFY about the changes to the EV tax credit in 2024. Read more: https://www.verifythis.com/article/news/verify/electric-vehicles-verify/electric-vehicles-ev-tax-credit-2024-irs-inflation-reduction-act-of-2022-fact-sheet/536-246483bf-deec-4bcc-a41b-014b904978cb ------------------------------ At VERIFY, we're answering your questions about what's true and false. Visit our website at verifythis.com If you've seen a viral claim online and you're not sure whether it's true, let us know! Email questions@verifythis.com or text us at 202-410-8808. Find us on social @verifythis. Facebook: https://www.facebook.com/verifythis Twitter: https://twitter.com/VerifyThis Instagram: https://www.instagram.com/verifythis/