IRS Rev. Proc.: Clean Vehicle Credit for Qualified Manufacturers (IRC §30D)

Existing procedures are updated and additional procedures are provided for qualified manufacturers to submit information regarding new clean vehicles to ensure the vehicles satisfy the requirements of I.R.C. §30D(d) and (e) for the applicable calendar year and therefore are eligible for the clean vehicle credit under §30D, the IRS announced. Updates to existing procedures regarding seller report updates and rescissions are also provided. Section 7.03(4) of Rev. Proc. 2023-33 and section 5.04 of Rev. Proc. 2023-38 are modified, the IRS stated. [Rev. Proc. 2024-26, 2024-27 I.R.B. __ (July 8, 2024)]

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