Dealerships can register to pass on the EV tax credit by using the IRS Energy Credits Online platform. Here’s a step-by-step guide:
- Verify Identity: Dealerships need to verify their identity through id.me on irs.gov. If they don’t have an account, they will need to create one.
- Register Business: Once verified, dealerships can fill out the dealer registration form. This includes providing personal information such as name, phone number, EIN, mailing address, and email. They also need to specify if they are a state-licensed dealer and add any relevant state license numbers.
- Upload Documents: Dealerships may need to upload supporting documents like state licenses. If a document upload fails, it can be retried.
- Submit Time-of-Sale Reports: After registration, dealerships use the platform to submit time-of-sale reports. These must be submitted within three calendar days of the sale.
- Advance Payments and Corrections: Dealers can also register for advance payments and make corrections to any incorrect information via the platform.
Registration typically takes 15 days or longer to process. The dealership must be registered for buyers to receive the point-of-sale EV tax credit.
Original article by NenPower, If reposted, please credit the source: https://nenpower.com/blog/how-do-dealerships-register-to-pass-on-the-ev-tax-credit/
