INCOME TAX

REG-113064-23, page 1144. These proposed regulations would provide guidance for elections to transfer clean vehicle credits under §§ 30D(g) and 25E(f), as established by the Inflation Reduction Act of 2022 (IRA). The proposed regulations provide guidance for taxpayers intending to transfer the previously-owned clean vehicle credit and the new clean vehicle credit to dealers who are entities eligible to receive advance payments of either credit. The proposed regulations also provide guidance for dealers to become eligible entities to receive advance payments of new or previously-owned clean vehicle credits. The proposed regulations also provide guidance for the recapturing of the credit under § 30D and 25E. Finally, proposed § 1.6213-2 defines the omission of a correct VIN for purposes of § 6213.