Proposed Regulations on Transfer of Clean Vehicle Credits Under I.R.C. Sections 25E and 30D

Summary

This practice note discusses proposed regulations issued by the Internal Revenue Service (IRS) and the U.S. Department of the Treasury (Treasury Department) that provide guidance for taxpayers who purchase qualifying previously-owned clean vehicles or qualifying new clean vehicles and who intend to transfer the amount of any previously-owned clean vehicle credit or new clean vehicle credit to dealers who are entities eligible to receive advance payments of either the previously-owned clean vehicle credit or the new clean vehicle credit.