
Yujin Kim McNamara
Articles
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Dec 5, 2023 |
lexology.com | Shariff Barakat |Suzanne Kane |Susan Lent |Yujin Kim McNamara |Zachary Rudisill |Amy Elliott | +2 more
On December 1, 2023, the Department of the Treasury and the Internal Revenue Service (IRS) issued proposed regulations (REG-118492-23) with additional guidance on the excluded entities provision in the section 30D clean vehicle tax credit. The provision disqualifies vehicles from being eligible for the credit starting in 2024 if the vehicle’s battery contains battery components that were manufactured or assembled by a foreign entity of concern (FEOC).
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