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News EssentialsThe Newsroom TopicsCredits and Deductions Under the Inflation Reduction Act of 2022 IRS Resources | The IRS ECO tool will be open for dealers to temporarily submit time of sale reports for any prior unsubmitted calendar year 2024 transactions On or about November 25th, 2024, dealers will be able to temporarily submit time of sale reports for any calendar year 2024 transactions of new or previously owned clean vehicle vehicles. You will need to submit any such time-of-sale reports by December 10th so there is ample time to process. Additionally, if you have cancellation requests that need to be processed for 2024 take action now before November 25th to submit any necessary cancellation requests. This could include vehicles that were never placed-in-service or time of sale reports that were submitted for leased vehicle (time-of-sale reports should not be submitted for leased vehicles). Dealers should anticipate the VIN for an eligible vehicle that was not placed in service, to be available for submission on a new time of sale report after the IRS has completed a review and concurs with the attestations submitted for the cancellation. If you previously submitted a second time of sale report for the same vehicle you are attempting to cancel and that second time of sale report is pending review, please notate this in the Reason for Input explanation box when cancelling the first time of sale report. For future transactions, if you are unable to submit a time-of-sale report within 3 calendar days after the date of sale, please login to IRS ECO and promptly submit the time of sale report and include an explanation as to the reason why you were unable to submit. Please note, the submission is subject to review of the attestations submitted. If the buyer elects to transfer the credit on a time of sale report submission that occurred after 3 calendar days from the date of sale, you may be asked to provide additional documentation pertaining to the clean vehicle credit. If you have issues submitting the time of sale report, follow the steps outlined in the Question 1 of the Frequently asked questions for clean vehicle returns and cancellations. If your issue persists, send the IRS a secure message through IRS Energy Credits Online and provide the VIN.
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