Electric Vehicles Tax Credit (Section 30D) – Changes in the Inflation Reduction Act

Learning Objectives

• To review the foundational principles of Section 30D tax credits, including their historical context, maximum credit amounts, and eligibility criteria.
• To explain the significant changes introduced by the Inflation Reduction Act, such as the elimination of manufacturer-based phaseouts, altered credit calculations, and the requirement for final vehicle assembly in "North America."
• To navigate the complexities of the tax credit application process, including the forms involved (e.g., Form 8936), certification reliance on manufacturers, and potential implications for businesses and individuals.
• To explore related energy incentives beyond Section 30D, including extensions and modifications to credits such as the Nonbusiness Energy Property Credit, Residential Renewable Energy Tax Credit, and others, with a focus on their respective implications and eligibility criteria.

Course Description

As the world races towards a more sustainable future, the road to environmentally friendly transportation is being paved with incentives and opportunities. 

In this CPE Webinar, we embark on an electrifying journey through the intricate web of tax credits and energy incentives, with a spotlight on the Electric Vehicles Tax Credit (Section 30D). Electric vehicles have charged onto the scene, and governments are offering a boost to early adopters and eco-conscious consumers. The Section 30D tax credit, introduced in 2008, has seen its fair share of changes over the years. However, the recent Inflation Reduction Act has ignited a surge of new modifications that could supercharge your understanding of electric vehicle incentives.

The credit calculation is now based on two components: $3,750 for meeting "critical minerals" requirements and $3,750 for meeting "battery component" requirements, both to be handled by the manufacturer. Additionally, the act introduces a requirement for final vehicle assembly in North America, which may pose challenges for qualifying vehicles.

This webinar also touches on other energy-related tax credits, such as the Nonbusiness Energy Property Credit, the Residential Renewable Energy Tax Credit, and the Renewable Energy Product Tax Credit, which have been extended and modified.

Key Topics Covered in this course:

• Section 30D
• General Rules
• Changes in the IRA
• MAGI Limit
• IRS Guidance
• Nonbusiness Energy Property Credit IRC 25C
• Clean Electricity  Investment Credit
• Others

Join this CE Tax Webinar it will charge you with valuable insights into the evolving landscape of electric vehicle incentives.

Overview

• General rules

  6 mins
• Final assembly

  15 mins
• Applicable percentages

  24 mins
• Qualified buyers

  37 mins
• Energy efficient home improvement credit

  46 mins