Do You Qualify for The Clean Vehicle Credit? Part 2

Now that you’ve determined you meet the personal requirements to qualify for the Clean Vehicle Credit. Let’s look at some of the vehicle requirements set forth by the Internal Revenue Service (IRS).

First and foremost, the vehicle must be bought new, and the dealer (or seller) must also report your name and taxpayer information to the IRS.

The IRS has also stipulated that the vehicle must undergo final assembly in North America and meet the requirements for the vehicle’s specs, price, and more.

Additionally, the vehicle’s minerals and battery components used in the manufacturing have an impact on its eligibility for the credit. To take advantage of the Clean Vehicle Credit, you must meet both the personal and vehicle requirements set by the Internal Revenue Service (IRS).

Here at AnneShade Associates, LLC, we are well-versed in all the requirements for the Clean Vehicle Credit. If you’d like to learn more and see if you qualify for the credit, contact us to meet with our tax professional, who knows all the ins and outs!