Question

Electric vehicle tax credit with new infrastructure bill

Forum|Forum|4 years ago
November 8, 2021
2 replies
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Hello,

Does the new infrastructure bill that passed the house this weekend include a tax credit for EVs? As far as I can tell it is not included in this bill but it could be included in the other bill that could be passed soon. I bought a Chevy Bolt in January of 2021 would I be able to change my withholdings to get a tax credit for taxes filed in the future when the infrastructure bill is eventually passed?

Thanks,

Aaron

Critter-3

Until the bill has actually passed into law you should do nothing with your withholding ... even when is passes you should not change your withholding because you will most likely not change it back next year and you will have a big mess later.

rjs

Employee

The Infrastructure Investment and Jobs Act that Congress passed on Friday does not have any provisions regarding a tax credit for purchasing an electric vehicle. If any future legislation provides such a credit retroactively for purchases made in 2021, and the new legislation is not passed and signed in time for you to adjust your withholding for the remainder of 2021, you will be able to get the credit on your 2021 tax return.