On January 3, 2025, the IRS and Treasury issued the long-awaited final regulations for the clean hydrogen production tax credit under Section 45V of the Internal Revenue Code of 1986. The regulations follow intense debates and thousands of comments submitted during the comment period. They aim to define 'clean hydrogen' for tax purposes and provide guidelines for claiming the credit. The regulations relax requirements for hydrogen production using electrolysis and introduce pathways for meeting incrementality. They also extend the transition period for temporal matching and retain the framework for deliverability. Producers will be able to determine lifecycle greenhouse gas emissions on an hourly basis with an annual limit. The regulations establish a safe harbor for determining emission rates and address methane- and RNG-based hydrogen production. The rules are effective for taxable years starting after December 26, 2023. Despite the finalization of the regulations, uncertainties remain about their implementation under the new administration and Congress.