The IRS ECO tool is open for dealers and sellers to submit time of sale reports for any unsubmitted calendar year 2024 transactions

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e-News for Clean Vehicle Industry December 10, 2024
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	The IRS ECO tool is open for dealers and sellers to submit time of sale reports for any unsubmitted calendar year 2024 transactions Dealers and sellers can now use the IRS ECO tool to submit time of sale reports for any calendar year 2024 transactions of new or previously-owned clean vehicles. It is imperative that you act immediately and submit your time of sale reports to allow sufficient time for processing before year-end. Additionally, if you have cancellation requests that need to be processed for 2024 take action now.  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.   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 Clean Vehicle Industry. Please Do Not Reply To This Message.

 

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