The IRS tells businesses how to get their clean vehicle tax credit

The US Treasury Department and the IRS have proposed rules for a tax credit on commercial clean vehicles. This means businesses will finally know how to get money back for buying electric trucks and vans.

The Inflation Reduction Act created a tax credit for businesses that buy clean commercial vehicles. But without clear rules, it was hard for companies to actually claim the money. These proposed rules make the credit usable, which lowers the effective cost of buying electric vehicles for businesses. This could accelerate the shift away from gasoline and diesel for commercial fleets.