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For most of 2025, cryptocurrencies such as bitcoin surged as President Trump vowed to make the U.S. a crypto leader. But now, a severe sell-off has shaken the sector.
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Zohran Mamdani Is Sworn In as Mayor of New York City The New York TimesWhat does Zohran Mamdani's ascent to mayor of New York mean for the Democratic party NPRHow to watch Zohran Mamdani's inauguration on NY1 Spectrum News NY1President Trump Speaks at Mar-a-Lago New Year's Eve Party C-SPAN‘You'll See the Ri
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Trump ends effort to keep National Guard in Chicago, Los Angeles, Portland The Washington PostTrump says he is withdrawing National Guard troops from some US cities BBCTrump says he's withdrawing National Guard from Chicago, Los Angeles and Portland CNNAfter legal setbacks, President Donald Trump says he's dropping push for National Guard in Chicago, LA, Portland, Oregon, for now
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Affordable Care Act tax credits are set to expire on Jan. 1, 2026. Cook County President Toni Preckwinkle and U.S. Rep. Raja Krishnamoorthi say the impact will hurt individuals and hospitals across Illinois.
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President Biden signed the Inflation Reduction Act into law on August 16. The massive climate, energy, tax, and healthcare package contains numerous clean energy incentives including tax credits for the purchase of new and used electric vehicles. But you may not have heard that the new law also revives the tax credit for electric vehicle charging stations and equipment that had expired in 2021. There are some changes to the prior charging station tax credit that you will want to be aware of, so that you can potentially use the tax break for your own EV charger.
What is the Tax Write Off for EV Chargers?
The federal tax credit for electric vehicle chargers originally expired on December 31, 2021. However, the Inflation Reduction Act's Alternative Fuel Refueling Property tax credit extends the EV charger tax incentive ten years—through December 31, 2032.
SEE MORE EV Tax Credits Are Changing: What's Ahead
So, what does that mean for you? Essentially, if you install an EV charging station at home, the tax credit under the Inflation Reduction Act is 30% of the cost of hardware and installation, up to $1,000. Also, beginning in 2023, the tax credit for business and home installations, will apply to other EV charging equipment like bidirectional (i.e., two-way) chargers.
Businesses that that install new EV chargers or EV charging equipment can also benefit from a tax incentive of up to 30% of the total cost of equipment and installation. But they will have to meet certain labor and construction requirements to be eligible to claim the full incentive.
Before the Inflation Reduction Act, the limit on the amount of the EV charger tax credit for businesses was $30,000 (which still applies to projects completed before the end of 2022). However, under the new law, if you complete the business installa
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