The Electric Vehicle (EV) tax credit, also known as the Clean Vehicle Tax Credit, is a nonrefundable tax credit. That means that it can reduce your tax to $0, but you won’t get a refund for any unused credit remaining. Claim it using IRS Form 8936, Clean Vehicle Credit. The credit ends on Sept. 30, 2025. Clean vehicles acquired after September 2025 will not qualify, as part of the One Big Beautiful Bill Act.

The EV tax credit is worth up to $7,500 for qualifying new electric vehicles and $4,000 for qualifying used electric vehicles you purchase before it ends. You must meet the income requirements to qualify, and there are also price limits on qualifying electric vehicles.

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Sharon Brucker, CPA Senior Tax Research Analyst Published on: August 06, 2025
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*This content is for general informational purposes only. It is not intended to be comprehensive and should not be construed as professional tax or financial advice for any specific individual tax situation. Taxpayers should always consult a qualified professional for individual guidance. This information constitutes a solicitation under the Treasury Department's Circular 230. Most offices are independently owned and operated.