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Course Details

Course Information
  • smart_display Format

    On-Demand

  • signal_cellular_alt Difficulty Level

    Intermediate

  • work Practice Area

    Tax Law

Date & Time
  • event Date

    Tuesday, June 20, 2023

  • schedule Time

    1:00 p.m. ET./10:00 a.m. PT

  • timer Program Length

    90 minutes

Credit Information

  • This 90-minute webinar is eligible in most states for 1.5 CLE credits.

  • BARBRI is a NASBA CPE sponsor and this 110-minute webinar is accredited for 2.0 CPE credits.

  • BARBRI is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).

$347.00
CLE
CPE
ALL

This CLE/CPE webinar will provide taxpayers, manufacturers, advisers, and counsel a detailed analysis of available electric vehicle and other clean vehicle Federal tax credits under the Inflation Reduction Act (IRA). The panel will discuss the amendments to Section 30D of the Internal Revenue Code, the processes for meeting the critical minerals and battery requirements, issues stemming from components manufactured or assembled by foreign entities, and other considerations for the clean vehicle tax credit. The panel will also cover requirements under Section 45W for Qualified Commercial Clean Vehicles used or leased as depreciable assets in a trade or business, and the availability of the credit for vehicles leased to consumers. The panel will also cover used vehicle credits under Section 25E and credits available for charging infrastructure under Section 30D.

Faculty

Andrew C. Hanson
Partner
Perkins Coie

Mr. Hanson provides legal support for energy project acquisition, development and construction, including for natural gas, wind and solar projects. He most recently served as a senior attorney with Alliant Energy Corporate Services.

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Elisa M. Walker
Attorney
Duane Morris LLP- Philadelphia

Ms. Walker practices in the area of corporate law with a focus on taxation, designing tax-efficient legal structures and representing clients in transactional tax matters. Her practice encompasses all aspects of corporate taxation, including planning for complex international corporate structures, navigating cross-border transactions and advising on a range of corporate and partnership taxation issues. Ms. Walker's experience includes assisting clients with mergers and acquisitions of subchapter C corporations, taxable stock sales, formation and negotiation of sophisticated and complex joint ventures, preparation of partnership and limited liability company agreements, and purchase and sale of partnership and limited liability company interests.

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Charles A. Ognibene
Partner
Duane Morris LLP.

Mr. Ognibene serves as a team lead of the firm's Transportation, Automotive and Logistics industry group. He practices in the area of corporate law. Mr. Ognibene has extensive experience closing deals, including capital market transactions, loan originations and workouts, as well as helping banks in product development and portfolio projects. He has a deep understanding of the auto finance industry, advising both wholesale and retail finance matters across the country. Mr. Ognibene provides strategic counsel to banks, finance companies and captives on related matters. He advises on commercial and consumer pool sales, as well as loan origination and dealer loan workouts. Mr. Ognibene also leverages his broad commercial background in litigation matters involving his clients.

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Description

The IRA provides significant opportunities to consumers, manufacturers, and commercial vehicle owners transitioning to electric vehicles. Tax professionals and advisers must understand the nuances of recent amendments and related guidance for Section 30D and new Section 45W to ensure optimum tax benefits for taxpayers.

Recent IRS proposed guidance for Section 30D focusing on definitions and substantive provisions for the critical minerals and battery components requirements to qualify for the consumer electric vehicle tax credit. If a vehicle does not satisfy all of the requirements, the Section 30D tax credit will either be limited or not available. Therefore, it is imperative that manufacturers follow the processes for determining the percentage of the value of applicable critical minerals and components contained in an electric vehicle battery.

For commercial fleets, new Section 45W authorizes tax credits of up to $40,000 or $7,500 per qualifying vehicle acquired and placed in service after December 31, 2022, that meet the definition of “qualified commercial clean vehicle.” Vehicles used or leased as depreciable assets in a trade or business can provide significant tax benefits for companies. Credits under this Section have also been claimed by lessors of vehicles to consumers. The panel will address the risks and concerns of that application.

Listen as our panel discusses the amendments to Section 30D, the processes for meeting the critical minerals and battery requirements, issues stemming from components manufactured or assembled by foreign entities, Section 45W requirements, and other considerations for the clean vehicle tax credit and the charging infrastructure credit under Section 30D.

Outline

  1. History & Policy Objectives
  2. Clean Vehicle Credits: Section 30D: Amendments, Requirements
    1. Critical minerals
    2. Battery components
  3. Used Vehicle Credits: Section 25E
  4. Commercial Vehicle Credits: Section 45W
    1. Eligibility
    2. Challenges
  5. Other Clean Vehicles
    1. Fuel Cell Vehicles
    2. Relation to Clean Hydrogen Infrastructure Planning
  6. EV Charging Infrastructure
    1. Section 30C: Tax Credits for Clean Vehicle Charging Infrastructure
    2. Status of National Electric Vehicle Infrastructure Program
    3. Regulatory Strategies for Successful EV Charging Infrastructure Deployment
  7. Insights and Implications

Benefits

The panel will discuss these and other key issues:

  • The impact of the IRA on clean vehicle tax credits
  • Recent amendments and guidance for Section 30D consumer tax credit
  • Key issues and processes in determining the value of critical minerals and battery components
  • Challenges for manufacturers in light of the IRA and recent IRS guidance
  • Navigating the requirements of Section 45W and issues for used or leased vehicles in a trade or business

NASBA Details

Learning Objectives

After completing this course, you will be able to:

  • Recognize the impact of the IRA on clean vehicle tax credits
  • Understand recent amendments and guidance for Section 30D consumer tax credit
  • Ascertain the processes in determining the value of critical minerals and battery components for EV tax credits
  • Recognize the challenges for manufacturers in light of recent IRS guidance for clean vehicle tax credits
  • Understand the requirements of Section 45W and issues for used or leased vehicles in a trade or business

  • Field of Study: Taxes
  • Level of Knowledge: Intermediate
  • Advance Preparation: None
  • Teaching Method: Seminar/Lecture
  • Delivery Method: Group-Internet (via computer)
  • Attendance Monitoring Method: Attendance is monitored electronically via a participant's PIN and through a series of attendance verification prompts displayed throughout the program
  • Prerequisite: Three years+ business or public firm experience at mid-level within the organization, preparing business tax forms and schedules. Specific knowledge of business taxation, energy tax credits, creditable expenses, qualified research activities, and documentation required to claim the IRC 30 tax credit.

Strafford Publications, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of Accountancy have final authority on the acceptance of individual courses for CPE Credits. Complaints regarding registered sponsons may be submitted to NASBA through its website: www.nasbaregistry.org.

IRS Approved Provider

Strafford is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).