When it comes to the Clean Vehicle Credit (CVC) introduced by the Inflation Reduction Act (IRA), the devil is in the details. The CVC is an update to the previous $7,500 credit for the purchase of a new electric vehicle (EV), with major changes that phase in over time. One change that went into effect Aug. 16, 2022, is the final assembly requirement. To qualify for the CVC, final assembly of the EV must occur in North America. Because some EV models are built in multiple locations, there may be EVs on the Dept. of Energy’s list of qualifying vehicles (https://bit.ly/3AiNgeV ) that don’t meet the final assembly requirement. For more information, visit https://bit.ly/3R8GT4Z or contact us. Call or visit our website for more information! www.mjscpa.com/
