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Eligible Electric Vehicles for the $7,500 ZEV Tax Credit
The current guidelines provided by the US Department of Energy (DOE) and the Environmental Protection Agency (EPA) list several fully electric vehicles that qualify for a $7,500 Zero Emission Vehicle (ZEV) tax credit:
- Acura ZDX
- Cadillac LYRIQ
- Cadillac OPTIQ
- Chevrolet Blazer EV
- Chevrolet Equinox EV
- Chevrolet Silverado EV
- Ford F-150 Lightning
- Honda Prologue
- Jeep Wagoneer S
- Kia EV6
- Kia EV9
- Tesla Cybertruck
- Tesla Model 3 Long Range
- Tesla Model 3 Performance
- Tesla Model X AWD
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Caution About Potential Changes to the Tax Credit System
The prospect of losing this lucrative tax benefit has raised eyebrows among consumers as Republican leaders hint at potential repeal actions on ZEV credits; former President Trump has notably signaled intentions to abolish this credit altogether. However, should you wish to capitalize on this incentive, purchasing any listed vehicle can enable you to receive immediate financial benefits from these credits—albeit ensure you’re selecting specific variants that are eligible.
“Starting January 1st, 2024, per new IRS directives, Clean Vehicle Tax Credits must be activated and confirmed during the sale process,” notes a government publication.
“Buyers should ensure they have documentation proving their dealer filed a ‘time-of-sale’ report successfully.”
“For additional guidance, check out IRS publication 5900.”
An Extensive List of Non-Credit Qualifying Electric Vehicles
A comprehensive review reveals numerous electric models currently sold in America do not fall under the ZEV tax credit umbrella:
- – Audi e-tron Series:–>
– GT
– Q4
– Q6
– Q8
– Other models include BMW’s i-series and Genesis’ line-up.
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