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IRS Releases Final Regulations on Tax Credits for the Purchase of Qualifying New and Previously-Owned Clean Vehicles

06 May 2024

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Approved Changes

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United States

The U.S. IRS has announced the issuance of the final regulations (TD 9995) regarding Federal income tax credits under the Inflation Reduction Act of 2022 (IRA) for the purchase of qualifying new and previously-owned clean vehicles, including new and previously-owned plug-in electric vehicles powered by an electric battery meeting certain requirements and new qualified fuel cell motor vehicles. The final regulations are effective on 5 July 2024 --- IRS releases final guidance for certain clean vehicle credits under the Inflation Reduction Act IR-2024-131, May 3, 2024 WASHINGTON — The Internal Revenue Service issued final regulations today for the new and...