The lease bonus is a pass through of the Federal BEV/PHEV tax credit available to Audi Financial Services by law. Offer ends February 28, 2023." Due to the Inflation Reduction Act of 2022, plug-in hybrid and all-electric vehicles purchased after August 16, 2022 may not qualify or may not quality for the full amount of the Federal Tax Credit. 2022 Ford Escape Plug-in Hybrid Similarly, leased vehicles can also qualify for a $7,500 tax credit without some of the strict rules about the car’s batteries and final assembly, meaning Electric Vehicle (EV) and Fuel Cell Electric Vehicle (FCEV) Tax Credit. The Inflation Reduction Act of 2022 (Public Law 117-169) amended the Qualified Plug-in Electric Drive Motor Vehicle Credit (IRC 30D), now known as the Clean Vehicle Credit, and added a new requirement for final assembly in North America that took effect on August 17, 2022. A new law now offers a tax rebate on some used EVs and PHEVs purchased from dealers. The final sale price must be $25,000 or less for vehicles at least 2 model years old, and the buyer’s 2025 Volvo EX30 EV bows at $34,950, 275 miles, available AWD. Base Tesla Model 3 now also qualifies for $7,500 tax credit. These hybrids have AWD, top 40 mpg, cost less than $30,000. PHEV drivers The Inflation Reduction Act focused on expanding availability of tax credits (including allowing plug-in hybrid models to access the full credit), bringing more EV and battery production to the US Carol Yepes | Getty Images. A federal hybrid car tax credit is available to consumers who buy plug-in electric vehicles (EVs) in the United States. According to the U.S. Department of Energy, you Plug-In Hybrid Credit – It’s easy to get caught up in the electric vehicle fervor, but keep in mind these tax credits apply for plug-in hybrid vehicles too. If you aren’t ready to make the leap to a pure EV, consider a plug-in hybrid as an intermediate step that can still benefit from the latest vehicle tax credits. From luxury brand Lexus, the NX plug-in hybrid SUV also qualifies. Toyota joins Tesla and General Motors on the list of automakers who no longer qualify for the full tax credit; Tesla sold its 200 A2. Yes. The Department of Energy hosts a purchaser-friendly version of IRS's list of eligible clean vehicles, including battery electric, plug-in hybrid, and fuel cell vehicles, that qualified manufacturers have indicated to the IRS meet the requirements to claim the new clean vehicle credit on FuelEconomy.gov. This list will be promptly ax2h.