IRS Updates EV Credit Rules

Posted 5/3/24

The U.S. Department of the Treasury and IRS released final rules on the clean vehicle provisions of the Inflation Reduction Act. The rules update  taxpayer and vehicle eligibility for the credit for new clean vehicles and the previously-owned clean vehicle credit.

The rules also address the critical minerals and battery components requirements and Foreign Entity of Concern (or “excluded entity”) restriction that were added to the clean vehicle credit by the IRA.

This item is available in full to subscribers.

Please log in to continue

Log in