IRS specifies procedures for certifying electric vehicles

07/13/2009 | JournalofAccountancy.com

The Internal Revenue Service has issued a notice giving vehicle manufacturers procedures for certifying their low-speed and 2- or 3-wheeled electric vehicles as eligible for a tax credit under IRC § 30. Taxpayers who buy these certified vehicles before 2012 can take 10% of the cost as a tax credit.

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