News & Analysis as of

U.S. Treasury › Tax Credits › Motor Vehicles

Mayer Brown

Final Guidance Issued on “Foreign Entity of Concern” Criteria

Mayer Brown on

On May 3, 2024, the US Department of the Treasury (“Treasury”) and the Internal Revenue Service (“IRS”) issued final regulations (T.D. 9995) concerning the clean vehicle credit under Section 30D of the Internal Revenue Code...more

Katten Muchin Rosenman LLP

Updates on EV Tax Credits

Katten Muchin Rosenman LLP on

Over the past several months the US Treasury Department (Treasury) and the Internal Revenue Service (IRS) have been busy issuing regulations and administrative guidance with respect to Section 30D (New Clean Vehicle Tax...more

Latham & Watkins LLP

Federal Agencies Provide Guidance on Clean Vehicle Tax Credit Eligibility

Latham & Watkins LLP on

Proposed regulations clarify FEOC restrictions and clean vehicle tax credit compliance for manufacturers aiming to produce eligible EVs. As countries around the world accelerate the transition to clean energy, the race to...more

Eversheds Sutherland (US) LLP

DOE, Treasury and IRS issue guidance regarding foreign entity of concern for section 30D tax credit eligibility

Eversheds Sutherland (US) LLP on

On December 4, 2023, the Department of Energy (DOE), Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) published related proposed guidance on the eligibility of an electric vehicle for the section...more

Jones Day

Proposed Guidance Clarifies "Foreign Entity of Concern" Restrictions for Clean Vehicle Credit

Jones Day on

New proposed Treasury and Department of Energy ("DOE") guidance, issued on December 1, 2023, offers clarity on which vehicles will be disqualified from the Clean Vehicle Tax Credit due to the inclusion of minerals or...more

Miller Canfield

US Issues Proposed Regulations on FEOC Exclusions from Clean Vehicle Credit

Miller Canfield on

On December 4, 2023, the U.S. Department of the Treasury and Internal Revenue Service (IRS) published long-awaited proposed regulations (Notice of Proposed Rulemaking) regarding the Foreign Entity of Concern (FEOC) exclusions...more

Troutman Pepper

Guidance Suggests U.S. Clean Vehicle Subsidies Require Disengagement From China Supply Chains

Troutman Pepper on

On December 1, the U.S. Department of Energy (DOE) released long-awaited proposed guidance defining “foreign entity of concern” (FEOC) under the Infrastructure Investment and Jobs Act (IIJA). Simultaneously, the U.S....more

Mayer Brown

US Treasury Issues Proposed Regulations on Section 30D Clean Vehicle Credit

Mayer Brown on

Electric vehicle and electric battery manufacturers and critical mineral producers will want to take note of a notice of proposed rulemaking (NPRM) on Section 30D of the Internal Revenue Code of 1986, as amended, released by...more

Mayer Brown

IRS Guidance on Electric Vehicles

Mayer Brown on

IRS and Treasury today issued Revenue Procedure 2022-42, which includes procedures for manufacturers of electric vehicles...more

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