Electric vehicles are moving on to eventually take over the auto market, no matter how attached drivers are to their gasoline engines.

It's a bit of a forced march — or maybe a drive — but one that has some interesting welcome tax benefits and implications, says George Livanos, CPA and partner at SAX LLP.

A number of aspects of the Inflation Reduction Act of 2022 open the possibilities of various tax credits — dollar-for-dollar reductions of income tax — that can add substance to a company's bottom line. And on April 10, the Internal Revenue Service released guidance on how to use the regulations.

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