Blatchford emphasized that dealers registered on IRS Energy Credits Online would gain access to a new and expanding customer base, aligning with consumer preferences.
Starting in January, buyers can select the dealer transfer option, securing a lower vehicle price without the wait. Following the dealer’s submission of the time-of-sale report on the portal, the IRS will promptly issue an advance payment of the tax credit within 72 hours.
To ensure a seamless transaction, the transferred amount must match the full credit available for the vehicle, provided that the vehicle meets specific domestic content requirements to qualify for the Section 30D incentive. Dealers must also remain compliant with their federal tax obligations, with the IRS conducting ongoing compliance checks.
Revving Up Outreach
With the IRS ECO portal now open, the Department of the Treasury is gearing up its outreach efforts. Car dealerships and industry trade groups, such as the National Automobile Dealers Association (NADA) and the National Independent Automobile Dealers Association, are in the spotlight.
