IRS Limits Electric Vehicle Tax Credit Eligibility (.PDF Download)

Up until recently, one of the biggest perks of buying and driving an electric vehicle (EV) was the tax credit that came along with it. Depending on the specific vehicle’s battery capacity, owners were eligible for a tax credit worth anywhere from $2,500 to $7,500. But while there were some basic parameters that had to be met in order to claim the credit, those rules are about to get way more stringent.