For most taxpayers, the tax law won't change much except for amounts that increase annually with inflation. However, if you've purchased an electric vehicle or made energy saving improvements to your home, new provisions of the Inflation Reduction Act could apply to you.

This video reviews these changes, and a few more. It also tells you where to find additional information on these and other changes that take effect in 2023.

0:00 Introduction
0:40 Inflation Adjusted Amounts
1:44 Clean Vehicle Credit
2:10 Residential Energy Credits
2:40 Revised RMD Rules
3:23 Conclusion

To learn more about the Clean Vehicle Credit, click here:    • The Clean Vehicle Credit (for 2023 an...  
and here:    • Claiming the Clean Vehicle Credit Usi...  

For more information on the Energy Efficiency Home Improvement Credit, click here:    • The Energy Efficient Home Improvement...  

Information on the Residential Clean Energy Credit can be found my clicking here:    • The Residential Clean Energy Credit  

Additional Information and Resources:

IRS Form 8936: "Clean Vehicle Credits": https://www.irs.gov/pub/irs-pdf/f8936...

IRS From 5695: "Residential Energy Credits": https://www.irs.gov/pub/irs-pdf/f5696...

Kiplinger.com: "Tax Changes and Key Amounts for the 2023 tax year": https://www.kiplinger.com/taxes/tax-l...

The Tax Geek on the Site Formerly Known as Twitter: @taxgeekusa

The Tax Geek on Reddit: www.reddit.com/r/askataxgeek

Image/Video Sources:

Storyblocks.com
Pexels.com
Wikimedia Commons

No artificial intelligence was used to research, write, animate, voice, or edit this video

Intro Music: "Bluesy Vibes" - Doug Maxwell - YouTube Creator Music

Outro Music: "Modern Attempt" - Track Tribe under license from YouTube Creator Music

DISCLAIMER: This video is for educational and informational purposes only. It is not intended to render tax advice or financial advice for individual situations. If you have questions regarding your particular situation, please consult with a qualified tax or financial professional.