WASHINGTON — The Internal Revenue Service today updated frequently asked questions in Fact Sheet 2024-14 to provide guidance related to the New, Previously Owned and Qualified Commercial Clean Vehicle Credits.

These FAQs supersede earlier FAQs that were posted in Fact Sheet 2023-29 on Dec. 26, 2023.

The FAQs revisions are as follows:

·         Topic A: Eligibility Rules for the New Clean Vehicle Credit: Revised Question 10.

·         Topic B: Income and Price Limitations for the New Clean Vehicle Credit: Revised Question 11.

·         Topic H: Transfer of New Clean Vehicle Credit and Previously Owned Clean Vehicle Credit: Revised Questions 5 and 15.

More information about reliance is available.