IRS Extends EV Report Deadline
Dealers have a few more days to report sales tied to discounts. Agency offers help.

The IRS is offering 'office hours' to answer dealers’ questions about the sales reports.
IMAGE: Pexels/Kindel Media
Auto dealers got a small reprieve from the Internal Revenue Service when it comes to reporting electric-vehicle sales that qualify consumers for discounts equivalent to federal tax credits.
The IRS extended the deadline for the time-of-sale reports to Jan. 19 for any EVs sold Jan. 1 through Jan. 16.
The federal agency said the extension is intended to help dealers adjust to the new reporting system, which includes an online portal.
The Biden administration instituted tax credits for purchases of qualified EVs to encourage sales in an effort to curb harmful emissions. It recently narrowed qualifications for the credits to certain vehicles whose materials aren’t sourced from countries including China, as the U.S. aims to limit reliance on those markets.
“The IRS is committed to resolving any issues facing manufacturers, dealers and sellers navigating the IRS' new ECO tool,” the agency said in its announcement of the extension.
It's offering “office hours” to answer dealers’ questions about the sales reports.
Originally posted on Auto Dealer Today
More Industry

World EV Adoption Set to Grow
A new report says the segment, despite recent setbacks in some regions, is poised for acceleration as many countries look to reduce pollution.
Read More →
Black Book: Weekly Market Update
Wholesale automotive auction business stayed steady last week as bidders encountered lower prices, analysts observed.
Read More →
Pricing Transparency Drives Purchase Consideration
An annual study by JD Power found that clear pricing matters to consumers on automaker websites, so much so that it increases their purchase consideration.
Read More →
Black Book: Weekly Market Update
Used-vehicle market depreciation was the prevailing story in the wholesale market last week.
Read More →
Smaller Is Looking Better
A growing number of Americans in the market for a new vehicle are opting for more affordable options, not waiting for market stability to bite the bullet.
Read More →
U.S. EV Market Slowly Stabilizes
U.S. electric-vehicle interest is slowly stabilizing since a major dip in sales after last year's end of the federal EV tax credit, and hybrids remain the leading electrified power train.
Read More →
Global EV Market Entering New Phase
Automakers are making investments to lower battery costs and optimize production to meet changing consumer needs.
Read More →
Black Book Weekly Market Update
The holiday weekend, not surprisingly, put a drag on wholesale automotive activity last week, analysts observed.
Read More →
Auto Affordability in Context
Cox Automotive points out the complex circumstances that have led to eye-popping vehicle prices.
Read More →
Black Book: Weekly Market Update
Automotive auction inventory increased last week, giving choosy bidders even more leeway.
Read More →