{"id":59718,"date":"2023-09-01T12:19:44","date_gmt":"2023-09-01T19:19:44","guid":{"rendered":"https:\/\/lapost.us\/?p=59718"},"modified":"2023-09-01T12:19:44","modified_gmt":"2023-09-01T19:19:44","slug":"irs-reminder-make-sure-to-understand-recent-changes-when-buying-a-clean-vehicle","status":"publish","type":"post","link":"https:\/\/lapost.us\/?p=59718","title":{"rendered":"IRS reminder: Make sure to understand recent changes when buying a clean vehicle"},"content":{"rendered":"<p>IR-2023-160, <strong>Sept. 1, 2023,\u00a0WASHINGTON<\/strong> \u2014 The Internal Revenue Service reminded consumers considering an automobile purchase to be sure to understand several recent changes to the new Clean Vehicle Credit for qualified plug-in electric drive vehicles, including qualified manufacturers and tax rules.<\/p>\n<p>The Inflation Reduction Act of 2022 (IRA) made several changes to the new Clean Vehicle Credit for qualified plug-in electric drive motor vehicles, including adding fuel cell vehicles. The IRA also added a new credit for previously owned and commercial clean vehicles.<\/p>\n<p>When purchasing a new or used clean vehicle, purchasers should check if the <a href=\"https:\/\/www.fueleconomy.gov\/feg\/taxcenter.shtml\">make and model<\/a> are eligible. In addition, for a new or used clean vehicle to be eligible for a Clean Vehicle Credit, the seller must provide the buyer with a seller report verifying that the vehicle purchased will qualify for the credit, which will include the make, model, and VIN.<\/p>\n<p>Also, the clean vehicles tax credits are non-refundable tax credits meaning that\u00a0these credits can\u2019t be used to increase the taxpayer\u2019s tax refund or to create a tax refund. These credits will only reduce the amount of tax they owe.<\/p>\n<p>The amount of tax owed will determine if the full amount or only a portion of the credit can be claimed.<\/p>\n<p>For more information on these credits and other clean energy credits related to the Inflation Reduction Act, check <a href=\"https:\/\/www.irs.gov\/credits-and-deductions-under-the-inflation-reduction-act-of-2022\">Credits and Deductions Under the Inflation Reduction Act of 2022<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>IR-2023-160, Sept. 1, 2023,\u00a0WASHINGTON \u2014 The&#46;&#46;&#46;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11,7],"tags":[],"class_list":["post-59718","post","type-post","status-publish","format-standard","hentry","category-business","category-u-s-a"],"_links":{"self":[{"href":"https:\/\/lapost.us\/index.php?rest_route=\/wp\/v2\/posts\/59718","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lapost.us\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lapost.us\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lapost.us\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lapost.us\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=59718"}],"version-history":[{"count":1,"href":"https:\/\/lapost.us\/index.php?rest_route=\/wp\/v2\/posts\/59718\/revisions"}],"predecessor-version":[{"id":59719,"href":"https:\/\/lapost.us\/index.php?rest_route=\/wp\/v2\/posts\/59718\/revisions\/59719"}],"wp:attachment":[{"href":"https:\/\/lapost.us\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=59718"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lapost.us\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=59718"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lapost.us\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=59718"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}