You can retrieve and manage your Time of Sale reports through the IRS Energy Credits Online (ECO) Tool, which is designed specifically for licensed dealers and sellers of clean vehicles. Here are the key points regarding retrieval and submission of Time of Sale reports via the IRS ECO Tool:
- The IRS ECO Tool allows dealers to submit Time of Sale reports electronically for vehicles placed in service starting in 2024 and onward. This is the official channel for reporting to the IRS regarding clean vehicle sales.
- Once you log into the IRS ECO portal (using ID.me for identity verification), you can access your registered business information and submit or view Time of Sale reports. The tool provides the capability to search Time of Sale reports by buyer names and Vehicle Identification Numbers (VINs).
- Dealers can register and log in through the Vehicle Dealers and Sellers link in the ECO portal to manage reports. This includes generating the Time of Sale report that the buyer will use on their federal tax return to claim the Clean Vehicle Credit.
- The ECO Tool supports two-way messaging, allowing dealers to communicate directly with the IRS about their submissions, which can help in resolving any reporting issues.
- The IRS has provided temporary relief for dealers to submit previously unsubmitted Time of Sale reports for 2024 transactions beginning December 10, 2024. Dealers who missed the initial 3-day submission window are encouraged to submit overdue reports as soon as possible using the ECO Tool, along with explanations if reports are late. Such late submissions are subject to IRS review.
In summary, yes, you can retrieve your Time of Sale report through the IRS ECO Tool after registering and logging in, and the tool serves as the central hub for submitting, retrieving, and managing these reports related to clean vehicle sales. It also allows you to look up past submissions by buyer or VIN and communicate with the IRS if needed.
Original article by NenPower, If reposted, please credit the source: https://nenpower.com/blog/can-i-retrieve-my-time-of-sale-report-through-the-irs-eco-tool/
