This is my go-to hot fudge (which is really my mom's go-to hot fudge and I'm recording it here so I don't have to call her for the recipe anymore). My mom normally makes twice this much but I can't be trusted to keep it around the house because I've been known to eat it straight out of the container.
6 oz. Chocolate chips (1/2 bag)
1/2 c. Butter
2 c. Powdered sugar
1 tsp. Vanilla
1 1/3 c. Evaporated Milk
Melt the butter and chocolate chips together over low heat. Add the powdered sugar and stir--it will be very thick and hard to stir. Add the evaporated milk and bring to a boil over medium heat stirring constantly. Boil for 2 min and continue to stir. Add vanilla and stir until incorporated.
Store any leftovers in the fridge.