On March 31, the Treasury Department and the Internal Revenue Service (IRS) released proposed regulations under Section 30D of the Internal Revenue Code (Code),1 focusing primarily.
USDT and IRS released proposed regulations under Internal Revenue Code focusing on critical mineral and battery component requirements to qualify for consumer electric vehicle tax credit under Section 30D. Regulations specific to section 30D EV tax credit not Section 45 W.
New Final Assembly Requirement If you are interested in claiming the tax credit available under section 30D (EV credit) for purchasing a new electric vehicle after August 16, 2022 (which is the date that the Inflation Reduction Act of 2022 was enacted), a tax credit is generally available only for qualifying electric vehicles for which […]