Over a year after the Inflation Reduction Act (IRA) was passed into law, the Department of the Treasury and the Internal Revenue Service (IRS) have issued a Notice of Proposed Rule Making for commentary on a key portion of the IRA. The “Foreign Entity of Concern” (FEOC) is a designation that disqualifies some imported parts and supplies related to the tax credits involved in the IRA’s credits and discounts for electric vehicles.
Please follow and like us:
