Additional than $1 billion in EV tax credits issued upfront to consumers, Treasury and IRS say

Additional than  billion in EV tax credits issued upfront to consumers, Treasury and IRS say


Vital Factors
  • The federal government has issued more than $1 billion in tax credits for new and utilised electric motor vehicles as an upfront money incentive to motor vehicle customers, the Treasury Section and IRS said.
  • The progress payments kicked in Jan. 1, 2024.
  • The credits for new and employed automobiles, for a respective $7,500 and $4,000, ended up beforehand offered only when EV buyers submitted their annual tax returns.



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