On December 12, 2022, the U.S. Department of the Treasury and the IRS issued Revenue Procedure (Rev. Proc.) 2022-42, providing guidance for manufacturers and sellers of clean vehicles on how to enter into a written agreement with the IRS and provide periodic written reports to the IRS related to the clean vehicle credits found in Sections 30D—Clean Vehicle Credit, 45W—Credit for Qualified Commercial Clean Vehicles, and 25E—Previously-Owned Clean Vehicles Credit. For more information on these credits and other transportation tax incentives, see our Forvis Mazars or submit the Contact Us form below.
IRS & Treasury Set Out Procedures for Clean Vehicle Manufacturers & Sellers
Inflation Reduction Act • December 16, 2022
The Treasury and the IRS have new guidance for manufacturers and sellers of clean vehicles in regard to clean vehicle credits. Read on for details.