The Department of the Treasury and the IRS on November 3 issued three additional notices requesting public comment on climate and clean energy tax incentives in the Inflation Reduction Act (PL 117-169), following an initial set of notices requesting comment the Department issued in October.
Treasury and the IRS said they plan to both Code sections under the Inflation Reduction Act’s sections 13403 and 13404. The commercial clean vehicle credit applies to qualified vehicles acquired and placed in service after December 31, 2022, with the maximum credit per vehicle $7,500 for vehicles with gross vehicle weight ratings of less than 14,000 pounds, or $40,000 for heavier vehicles.
Notice 2022-57 requests general comments on the amendments to the carbon oxide sequestration credit under Code Sec. 45Q.
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