Tax Law and News IRS guidance on commercial clean vehicle credits Read the Article Open Share Drawer Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)Click to share on LinkedIn (Opens in new window) Written by Intuit Accountants Team Modified Feb 28, 2023 1 min read The IRS recently issued Notice 2023-16 that modifies the definitions of certain vehicle classifications for the new, previously owned and qualified commercial clean vehicle credits. Today’s guidance modifies Notice 2023-01 by changing the vehicle classification standard by which vans, sport utility vehicles, pickup trucks, and other vehicles are defined. In addition, Fact Sheet 2023-4 updates the FAQs related to new, previously owned, and qualified commercial clean vehicles. The FAQs revisions are as follows: Topic A: Eligibility Rules for the New Clean Vehicle Credit: Questions 1 and 8. Topic B: Income and Price Limitations for the New Clean Vehicle Credit: Questions 2, 6, 8, 9, and added new Question 7. Topic C: When the New Requirements Apply to the New Clean Vehicle Credit: Question 7, Topic D: Eligibility Rules for the Previously Owned Clean Vehicle Credit: Question 4, Topic G: Qualified Commercial Clean Vehicles Credit: Question 6. As always, visit the Intuit® Tax Pro Center IRS News page for continuous updates. Previous Post Navigating reasonable comp for niche clients Next Post Modernized e-file: Are you in compliance? Written by Intuit Accountants Team The Intuit® Accountants team provides ProConnect™ Tax, Lacerte® Tax, ProSeries® Tax, and add-on software and services to enable workflow for its customers. Visit us at https://proconnect.intuit.com, or follow us on Twitter @IntuitAccts. More from Intuit Accountants Team Comments are closed. Browse Related Articles Tax Law and News Guide to energy and clean vehicle tax credits Tax Law and News Clean vehicle credits: Inflation Reduction Act Tax Law and News Wage requirements for enhanced credits/deductions Tax Law and News Truckers must file From 2290 in required timeframe Tax Law and News IRS clarifies rules for new corporate alt min tax Tax Law and News Celebrate Earth Day the tax-wise way Tax Law and News Tax Credit for Qualified Plug-in Electric Drive Motor V… Tax Law and News What you need to know about the Inflation Reduction Act… Tax Law and News Deadline Coming for Most Highway Use Tax Returns Tax Law and News IRS Announces 2016 Standard Mileage Rates for Business,…