WASHINGTON, D.C.—Today, the Zero Emission Transportation Association (ZETA) welcomed the Internal Revenue Service’s release of the guidance and FAQs detailing how qualified EV dealers and purchasers can more easily access the clean vehicle tax credits provided in the Inflation Reduction Act. These transferability rules allow qualifying buyers to transfer certain credits (30D, 25E, and 45W) to a qualified dealer in exchange for cash—similar to a rebate. This process simplifies and encourages the use of these key tax credits by enabling qualifying dealers to provide a cash discount on new and used EVs rather than requiring the buyer to claim the credit on their tax return at a later date.
In response to the release, Albert Gore, the Executive Director of the ZETA, released the following statement:
“This guidance makes it easy for everyone to access the IRA’s new and used electric vehicle tax credits at the point of sale. A simplified process will maximize the benefit of these credits, not just to drivers and their communities, but to the entire EV supply chain.”
The Zero Emission Transportation Association is a federal coalition focused on advocating for 100% EV sales. ZETA is committed to enacting policies that drive EV adoption, create hundreds of thousands of jobs, secure American global EV manufacturing leadership, drastically improve public health, and significantly reduce carbon pollution.