IR-2024-107: Treasury, IRS issue corrected census tracts for the Qualified Alternative Fuel Vehicle Refueling Property Credit

IRS Newswire April 12, 2024
News Essentials What's Hot News Releases IRS - The Basics IRS Guidance Media Contacts Facts & Figures Around The Nation e-News Subscriptions The Newsroom Topics Multimedia Center Noticias en Español Radio PSAs Tax Scams The Tax Gap Fact Sheets IRS Tax Tips Armed Forces Latest News Home IRS Resources Contact My Local Office Filing Options Forms & Instructions Frequently Asked Questions News Taxpayer Advocate Where to File IRS Social Media	Issue Number:    IR-2024-107 Inside This Issue Treasury, IRS issue corrected census tracts for the Qualified Alternative Fuel Vehicle Refueling Property Credit WASHINGTON – The Department of Treasury and Internal Revenue Service today corrected Appendix A and Appendix B of Notice 2024-20 to add additional eligible census tracts for the qualified alternative fuel vehicle refueling property credit. This correction reflects additional census tracts that were determined to meet the description of eligible census tracts in Notice 2024-20. Appendix A was corrected to include: 02158000100    Alaska              Kusilvak/Wade Hampton 04019002704    Arizona             Pima 04019005200    Arizona             Pima 36053030101    New York          Madison 36053030102    New York          Madison 36053030200    New York          Madison 46102940500    South Dakota    Oglala Lakota County/Shannon 46102940800    South Dakota    Oglala Lakota County/Shannon 46102940900    South Dakota    Oglala Lakota County/Shannon Appendix B was corrected to include: 17095000600    Illinois             Knox County 19145490300    Iowa                Page County 20181453700    Kansas            Sherman County The Inflation Reduction Act amended the credit for qualified alternative fuel vehicle refueling property. The changes apply to qualified alternative fuel vehicle refueling property placed in service after Dec. 31, 2022, and before Jan. 1, 2033. The credit amount for property not subject to depreciation is 30% of the cost of the qualified property placed in service during the tax year. The credit amount for depreciable property is 6% of the cost of the qualified property placed in service during the tax year but may be increased to 30% of the cost of the qualified property if the prevailing wage and apprenticeship requirements are met. The credit is limited to $100,000 for depreciable property and $1,000 for non-depreciable property. Property must be placed in service in an eligible census tract to qualify for the credit. An eligible census tract is any population census tract that is a low-income community or any population census tract that is not an urban area. More information about the alternative fuel vehicle refueling property credit may be found in the frequently asked questions.   Back to Top         Thank you for subscribing to the IRS Newswire, an IRS e-mail service. If you know someone who might want to subscribe to this mailing list, please forward this message to them so they can subscribe. This message was distributed automatically from the mailing list IRS Newswire. Please Do Not Reply To This Message.

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