On March 31, 2023, the Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) issued proposed regulations regarding the section 30D consumer tax credit available for the purchase of a new electric or fuel cell vehicle (the Proposed Regulations),1 following a request for comments the IRS issued in Notice 2022-46 last year. Treasury and the IRS received hundreds of comments on section 30D, reflecting that it is one of the most significant provisions of the Inflation Reduct...
