For an electric vehicle to qualify for the clean vehicle tax credit (IRC Sec. 30D), it must meet certain requirements. The maximum credit is $7,500. A vehicle that meets the requirements for critical materials may qualify for a $3,750 credit. A vehicle that meets requirements for battery components may qualify for a $3,750 credit. At a hearing, the IRS heard testimony that advocated for an official vehicle identification number (VIN) lookup system so both auto dealers and prospective buyers can easily determine if a particular vehicle is eligible for the tax break. Under proposed regulations, only dealers would have access this information. Learn more about the credit: https://bit.ly/4bkuF42C
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