Data / Federal rules / 2024-09094
Clean Vehicle Credits Under Sections 25E and 30D; Transfer of Credits; Critical Minerals and Battery Components; Foreign Entities of Concern
The Internal Revenue Service published this final rule in the Federal Register on May 6, 2024. It took effect on July 5, 2024.
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What the agency says
This document contains final regulations 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. In addition, the final regulations provide guidance for taxpayers who purchase qualifying vehicles and intend to transfer the amount of any previously-owned clean vehicle credit or new clean vehicle credit to dealers that are entities eligible to receive advance payments of either credit. The final regulations also provide guidance for dealers to become eligible entities to receive advance payments of previously-owned clean vehicle credits or new clean vehicle credits, and rules regarding recapture of the credits. Finally, the final regulations provide guidance on the meaning of three new definitions added to the exclusive list of mathematical or clerical errors relating to certain assessments of tax without a notice of deficiency.
Key facts
- Document number
- 2024-09094
- Type
- Final rule
- Action
- Final regulations
- Agency
- Treasury Department; Internal Revenue Service
- Published
- May 6, 2024
- Takes effect
- July 5, 2024
- Dates
- Effective date: These regulations are effective on July 5, 2024.
- Docket
- TD 9995
- Regulation ID (RIN)
- 1545-BQ52; 1545-BQ86; 1545-BQ99
- Code of Federal Regulations
- 26 CFR 1; 26 CFR 301
- Topics
- Employment taxes; Estate taxes; Excise taxes; Gift taxes; Income taxes; Penalties; Reporting and recordkeeping requirements
- Significant
- Yes, under Executive Order 12866
- Pages
- 70
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Read from the Federal Register API, last updated 2026-10-23. The document on federalregister.gov is the official record; dates and dockets can change through later corrections. Free to reuse with credit to SpecStream under CC BY 4.0.