Clean vehicle dealers that want to receive advance payments of clean vehicle credits in January 2024 should register their businesses with the IRS before December 1, 2023. (IR 2023-206)
According to the IRS, registering by December 1, 2023, will allow clean vehicle dealers to receive advance payment of credits beginning January 1, 2024.
How to Register
To register, dealers and sellers must use the IRS’ Energy Credits Online tool. The tool will allow dealers to submit time-of-sale reports and advance payment requests. The tool will also generate a report the taxpayer will use when filing their federal tax return to claim or report any credits.
Currently, only one individual representative of the dealer or seller can complete the businesses’ registration through IRS Energy Credits Online. However, future enhancements of the tool will allow businesses to authorize more than one employee to submit time-of-sale reports and advance payment requests.
Note: Any representative authorized to submit reports and request advance payments must be authorized to legally bind the business.
Information Needed
The IRS uses ID.me to provide identity verification and sign-in services. The business’ individual representative will need to have or create an ID.me account to register the business.
Note: The individual representative will verify their personal identity – not the business’ information – with ID.me.
Once the individual representative is signed in, they will need the following information to register the business:
- The business’ employer ID number (EIN).
- Business name and address.
- If the business is a licensed dealer that will receive advance payments, the dealership’s license number and bank routing and account numbers.
