If you purchased a new or used electric vehicle (EV) that’s eligible for the 2024 federal tax credit, please read this carefully.
We have recently heard that the IRS re-opened the portal where dealerships can file the required time-of-sale reports, allowing them to retroactively file this key document for any EV sales in 2024. Previous to this development, if you did not receive a time-of-sale report within 3 days of your purchase, you could not claim the federal tax credit. But now, you can!
We don’t know how long this portal will be open, so if you purchased an EV in 2024 and did not receive a time-of-sale report, you should act fast. Follow these steps:
- Contact the dealership or store you purchased from and ask them to submit the time-of-sale report through the IRS portal.
- Ask the dealership or store for a copy of the time-of-sale report.
- Using your time-of-sale report, file Form 8936, even if you don’t normally file taxes, and even if you originally got the tax credit at the point-of-sale. If you already filed, you can file an amended return.
Tax day is right around the corner, and we don’t know how long the IRS will keep this portal open, so act fast.
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