IRS Tax Tip 2024-16, March 13, 2024 To submit time-of-sale reports and receive advance payments of the Clean Vehicle Tax Credit, auto dealers and sellers must register their business with IRS Energy Credits Online. Dealers and sellers must use this tool to submit all time-of-sale reports for vehicles placed in service in 2024 and future years. How to register To register or access a previously registered business, dealers and sellers can go to IRS Energy Credits Online. The step-by-step instructionsPDF guide them through the process to register, submit time-of-sale reports and enter advance payment information. It may take 15 days or longer for the registration to process. Once registered, dealers and sellers must use this tool to enter time-of-sale reports and provide the buyer certain required informationPDF. What happens after registration When a dealer successfully submits a time-of-sale report, the vehicle is eligible for the creditPDF. A submission is successful when the dealer receives a copy of the report and a confirmation of acceptance by IRS Energy Credits Online. Buyers should use the copy of the report when they file their annual federal tax return. Find out more about the Clean Vehicle Credits at IRS.gov/cleanvehicle. Subscribe to IRS tax tips
