Clean vehicle sellers and dealers should register with Energy Credits Online immediately

Having trouble viewing this email? View it as a Web page.                                                                                                                                                 

 

e-News for Clean Vehicle Industry December 5, 2023
News Essentials What's Hot News Releases IRS - The Basics IRS Guidance Media Contacts Facts & Figures Around The Nation e-News Subscriptions The Newsroom Topics Credits and Deductions Under the Inflation Reduction Act of 2022 Clean Vehicle Tax Credits Frequently Asked Questions About the New, Previously Owned and Qualified Commercial Clean Vehicles Credit Multimedia Center Noticias en Español Tax Scams Fact Sheets IRS Tax Tips Armed Forces Latest News Home IRS Resources Contact My Local Office Filing Options Forms & Instructions Frequently Asked Questions News Taxpayer Advocate Where to File IRS Social Media	Clean vehicle sellers and dealers should register with Energy Credits Online immediately The Internal Revenue Service is reminding dealers and sellers of clean vehicles to register their organizations immediately on the Energy Credits Online tool. The IRS is strongly urging sellers of clean vehicles to register immediately, if they want to be in a position to receive advance payments starting Jan. 1, 2024. Energy Credits Online or IRS ECO, is a free electronic service that is secure, accurate and requires no special software. Though available to any business of any size, IRS Energy Credit Online may be especially helpful to any small business that currently sells clean vehicles. Clean vehicle sellers should begin the online enrollment process immediately. The IRS encourages any dealer or seller to register using Energy Credits Online immediately to share in its benefits and ensure that by Jan. 1, 2024, dealers and sellers are ready to submit time-of-sale reports and receive advance payments. The tool will generate a time-of-sale report the taxpayer will use when filing their federal tax return to claim or report the credit. Beginning in 2024, clean vehicle sellers and licensed dealers must use the tool for their customers to successfully claim or transfer the new or previously owned clean vehicle credit for vehicles placed in service Jan.1, 2024, or later. To participate and take advantage of the new and used clean vehicle credits available to taxpayers, a dealer must register through the IRS Energy Credits Online tool. Initially, only one individual representative of the dealer or seller can complete the registration through IRS Energy Credits Online: That representative must be currently authorized to legally bind the dealer or seller. Future enhancements of the tool will allow dealers and sellers to authorize more than one employee to submit time-of-sale reports and advance payment requests. Authorizing additional employees is an easy update for registered dealers. More information about clean vehicle credits and tax benefits from the Inflation Reduction Act is available on IRS.gov. Back to Top         Thank you for subscribing to e-News for Clean Vehicle Industry, an IRS e-mail service. If you know someone who might want to subscribe to this mailing list, please forward this message to them so they can subscribe. This message was distributed automatically from the mailing list IRS e-News for Vehicle Industry. Please Do Not Reply To This Message.

 

---

Update your subscriptions, modify your password or email address, or stop subscriptions at any time on your Subscriber Preferences Page. You will need to use your email address to log in. If you have questions or problems with the subscription service, please contact subscriberhelp.govdelivery.com. This service is provided to you at no charge by the Internal Revenue Service (IRS).

---

This email was sent to business.solutions.ve@gmail.com by: Internal Revenue Service (IRS) · Internal Revenue Service · 1111 Constitution Ave. N.W. · Washington DC 20535