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Electric Vehicles Tax Credit- Changes in the Inflation Reduction Act 1 Credit

Electric Vehicles Tax Credit- Changes in the Inflation Reduction Act 1 Credit

Including Other Energy Tax Credits

  • Rating

    4.7
  • Published on

    November, 2024
  • Subject Area

    Taxes

Select your learning mode

  • Access the course at your convenience
  • Take the assessment test
  • Get your certificate
  • Answer the polling questions
  • Get your certificate

Dec 06, 2024 | 03:00 PM ET

Learning Objective

  • Review EV tax credit eligibility, income, and vehicle price limits.
  • Discuss how critical minerals and battery components affect EV credits.
  • Discover strategies for transferring EV credits to the dealer.
  • Explore the updated EV credit benefits for new and used vehicles.
  • Identify the requirements for leasing or purchasing an EV tax credit.

Course Overview

Electric vehicles (EVs) have become a key focus in the push for cleaner, more sustainable transportation. With the increasing number of EVs on the road and the growing adoption of renewable energy sources, understanding the tax incentives available for EV buyers and owners is crucial.

As part of the Inflation Reduction Act, significant updates have been introduced that affect how these credits are calculated, who qualifies, and how they are claimed. In this CE Course, we will explore the details of the EV tax credits, including eligibility requirements, credit calculations, and the recent changes that impact both new and used vehicle purchases. We will also dive into strategies for leveraging these credits and maximizing your savings. We will also discuss some of the more complex issues, such as how the credit can be applied to leased vehicles, and the growing importance of sourcing materials like critical minerals and battery components from North America.

Key topics covered:

  • Critical mineral sourcing rules
  • EV lease tax implications
  • Price limits and exclusions
  • Used vehicle tax credits

Participants will walk away with a deeper understanding of how to navigate these new regulations and take full advantage of the opportunities available to them under the new tax code. Whether you’re looking to purchase, lease, or even buy a used EV, this course will give you the tools you need to make the most of available tax credits.

For more CE Tax courses, Click here

Looking to fulfill your Enrolled Agent (EA) Continuing Education (CE) requirements? MY-CPE online Enrolled Agent CE courses are the best for you. Earn EA CE Credits while enhancing your domain knowledge and expertise in diverse tax regulations and practices. Our courses are designed to provide you with the latest updates and deep insights to keep you ahead in your field. With flexible scheduling and a user-friendly platform, MY-CPE offers you a greater convenient and interactive learning experience. Join MY-CPE today and take the next step in advancing your career as an Enrolled Agent.

  • 1 CPE Credit of Taxes for Certified Public Accountants (CPA-US)
  • 1 General Credit of Taxes for Accountant/Bookkeeper/Tax Professionals
  • 1 CE Credit of Federal Tax Law Update for Enrolled Agents (EA) (Approval No. GEHNZ-U-02177-24-S)
  • 1 CE Credit of Federal Tax Law Update for Annual Filing Season Program (AFSP) (Approval No. GEHNZ-U-02177-24-S)
  • 1 CE Credit of Taxes for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-1762)
  • 1 CE Credit of Federal Tax Law Update for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-U-02177-24-S)
  • 1 CE Credit of Federal Tax Law Update for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-U-02177-24-S)
  • 1 CE Credit of Federal Tax Law Update for LTC (Approval No. GEHNZ-U-02177-24-S)
  • 1 CPE Credit of Taxes for Iowa Licensed Public Accountant (IA-LPA)
  • 1 CPE Credit of Taxes for Maine Licensed Public Accountant (ME-LPA)
  • 1 CPE Credit of Taxes for Delaware Licensed Public Accountant (DE-LPA)

  • 1 CPE Credit of Taxes for Certified Public Accountants (CPA-US)
  • 1 General Credit of Taxes for Accountant/Bookkeeper/Tax Professionals
  • 1 CE Credit of Federal Tax Law Update for Enrolled Agents (EA) (Approval No. IRS-GEHNZ-U-02177-24-O)
  • 1 CE Credit of Federal Tax Law Update for Annual Filing Season Program (AFSP) (Approval No. IRS-GEHNZ-U-02177-24-O)
  • 1 CE Credit of Taxes for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-1762)
  • 1 CE Credit of Federal Tax Law Update for Maryland Tax Preparer (MRTP) (Approval No. IRS-GEHNZ-U-02177-24-O)
  • 1 CE Credit of Federal Tax Law Update for Oregon Registered Tax Preparers (ORTP) (Approval No. IRS-GEHNZ-U-02177-24-O)
  • 1 CE Credit of Federal Tax Law Update for LTC (Approval No. IRS-GEHNZ-U-02177-24-O)
  • 1 CPE Credit of Taxes for Iowa Licensed Public Accountant (IA-LPA)
  • 1 CPE Credit of Taxes for Maine Licensed Public Accountant (ME-LPA)
  • 1 CPE Credit of Taxes for Delaware Licensed Public Accountant (DE-LPA)

Additional Information

Credits

1

Course Level

Basic

Instructional Method

QAS Self Study
Group Internet Based

Pre-requisites

None

Advance Preparation

None

IRS APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: GEHNZ) has entered into an agreement with the Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering aintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. This agreement does not constitute an endorsement by the IRS as to the quality of the program or its contribution to the professional competence of the enrolled individual. Credit earned by attendees with a PTIN will be reported directly to the IRS as required of all providers. To ensure your CPE hours are reported, update your profile in My Account to include your PTIN number. Please note: IRS CE is only mandatory for EAs and ERPAs. For all other tax return preparers, CE is voluntary.

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors.

About Instructor

Jason Dinesen (EA, LPA) is a tax nerd, entrepreneur, tax expert and a well known presenter of continuing education courses. He has an impeccable acumen for tax subjects, by virtue of which, he is known to create very well researched course materials helping individuals and businesses with accounting, bookkeeping, tax preparation, and business advisory in various industries.

Known for his sharp tax interpretations, he is one of the quickest to bring the analysis of the latest tax updates and IRS guidance to the professional community. Jason has coached over 200,000 accounting, tax, and HR professionals on various topics of accounting, individual taxation, corporate taxation, professional ethics and much more.

He has presented over dozens of webinars on Form 1099 (MISC & R); marriage in the tax code; tax updates; the new Form W-4, payroll updates, filing status, tax credit and other issues relating to the modern-day household setting.

Moreover, Jason is known to be producing every other webinar/course a little different and updated from the previous one. No wonder, he is a top ranked presenter whose webinars and self-study course materials are very well received by the audience. 

He also teaches 2 classes at Simpson College, Individual Income Tax and Business Analytics. 

Jason was born and raised in Iowa and has a degree in corporate communications from Simpson College in Indianola. He has a big family that includes his wife, two sons, 5 cats and 3 dogs. Jason holds season tickets to University of Iowa football, and enjoys using his chainsaw. Topmost item in his 2022 bucket list is to learn how to properly ‘nose & taste’ whisky.

On Demand FAQs

What is Self Study (QAS)?

Self Study QAS (Quality Assurance Service) is a NASBA and other regulatory bodies approved program designed for Professionals to complete their Continuing Professional Education credits through self-paced, interactive courses that meet the highest standards of quality and compliance. We are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.

How do I earn CPE credits through self-study?

To earn CPE credits, you must complete the self-study course, pass the required assessments, and submit the necessary documentation. Credits are awarded based on the completion of course hours and successfully passing the assessments.

Are the self-study courses approved by NASBA and other regulatory bodies?

Yes, all our self-study courses are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the rigorous standards for quality and educational content set by these organizations.

What are the requirements to maintain compliance with self-study courses?

To maintain compliance, you must follow the guidelines set by NASBA and other regulatory bodies, which include completing the course within the specified timeframe, passing the assessments, and keeping accurate records of your learning activities.

How can I access my course completion certificates?

After successfully completing a self-study course and passing the assessments, you can access and download your course completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.

How are credits reported to governing bodies?

We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.

Live Webinar FAQs

What is a Live Webinar Group Internet-Based Credit?

A Live Webinar Group Internet-Based Credit is an interactive, real-time online seminar where professionals can earn Continuing Education credits by participating in live sessions led by experts in various fields. These sessions meet the standards set by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.

How do I earn credits through live webinars?

To earn credits, you must attend the entire live webinar, actively participate in any polls or questions, and complete any required evaluations or assessments. Credits are awarded based on your attendance and participation in the live session.

Are the live webinars approved by NASBA and other regulatory bodies?

Yes, all our live webinars are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the high standards for quality, interactivity, and educational content set by these organizations.

What are the requirements to maintain compliance with live webinar courses?

To maintain compliance, you must adhere to the guidelines set by NASBA and other regulatory bodies, which include attending the full duration of the webinar, participating in interactive elements, and completing any post-webinar evaluations or assessments.

How can I access my webinar completion certificates?

After successfully attending a live webinar and fulfilling all participation requirements, you can access and download your completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.

How are credits reported to governing bodies?

We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.

Ratings and Review

4.7

Excellent

Very Good

Average

Poor

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MU

Melanie Ujhazy, CPA (US)

I have taken several courses, and Jason is one of the best presenters. Thorough, easy to understand and a joy to listen to and learn.

DM

Donna Mcdonald, EA

Very informative. Good presentation by instructor. Will recommend to others.

Inclusions
  • Multiple Credits
    Multiple Credits

    Earn continuing education credits with flexibility. Choose from live webinars, on-demand courses, e-books, or podcasts to fit your learning style and schedule.

  • Certifications & Reporting
    Certifications & Reporting

    We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days - fastest in the industry.

  • Credit Tracker
    Credit Tracker

    Track and manage your compliance across all 50 states and over 100 designations. Our Credit Tracker keeps your CPE credits and compliance requirements always up-to-date.

  • Certificate Vault
    Certificate Vault

    Certificate Vault to upload, manage, and access certificates earned from various sources and an integrated credit tracker, allowing users to monitor and manage their credits conveniently for compliance.

  • Compliance Reminders
    Compliance Reminders

    Stay current with our automated reminder system. Receive timely alerts for your CPE requirements, ensuring you never miss a deadline.

  • Mobile App Access
    Mobile App Access

    The myCPE Mobile App allows you to learn on the go, providing access to educational content on Android and Apple iOS devices. You can learn anytime and anywhere, making it convenient for busy schedules.

  • Live Support
    Live Support

    Our support team is available via live chat, email, and phone from 9 AM to 5 PM ET. We're here to help with any questions or issues, ensuring you have a seamless experience.

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