Five Things to Know About the Updated EV Charging Tax Credit

The Inflation Reduction Act (IRA) contains a tax credit that can be used for electric vehicle charging infrastructure. You might have missed it because its name is a bit wordy and doesn’t contain the words “electric” or “charging.” The credit is called the Alternative Fuel Vehicle Refueling Property Credit. Basically, that translates to a credit for businesses or individuals investing in infrastructure that is used to refuel vehicles that run on certain so-called alternative fuels, a category that includes electricity. I’ll call it the alternative fuel infrastructure tax credit for short.

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