NJ CAR wants to remind ALL dealerships that their 2023 EV Tax Credit Seller’s Reports are due by January 31, 2024.
If you have any questions, we encourage you to review the information contained on the IRS website by clicking on the following link: https://www.irs.gov/credits-deductions/clean-vehicle-credit-seller-or-dealer-requirements
Below are some of the most important pieces of information contained on the website related to 2023 reporting:
IMPORTANT: The information emailed to IRS must be encrypted. Make sure your dealership IT staff are clear about what that requires. You need to follow the steps under the SENDING US EMAIL section below.
Report 2023 information to the IRS
Rev. Proc. 2022-42, Section 6.03 provides that sellers must file reports within fifteen days after the end of the calendar year (i.e., January 15, 2024). The IRS is extending the due date sellers have to provide these reports until January 31, 2024. As a result, for vehicles placed in service in calendar year 2023, you must submit required information about a qualifying clean vehicle sale to the IRS by January 31, 2024.
- Submit copies of your seller reports provided to eligible buyers. See below for guidance on emailing reports to the IRS.
- The IRS preferred format for these submissions is an excel spreadsheet containing all required data from all seller reports a seller or dealer prepared in calendar year 2023.
- Sellers or dealers may also submit individual seller report copies of the Form 15400 or equivalent forms containing all required data the seller/dealer used in calendar year 2023. Sellers and dealers that used reasonable alternatives to Form 15400 in providing the required seller reports to buyers do not need to prepare the information in the Form 15400 format. Attached is a copy of form 15400 (Clean Vehicle Seller Report).
2023 IRS Section 30D Clean Vehicle Tax Credit Seller Report
2023 IRS SEction 25E Previously Owned Clean Vehicle Tax Credit Report
Sending us email
Confirm you are sending an email to the correct address. Emails should be sent to [email protected].
- Standard email is not encrypted. Avoid including sensitive information or information that can identify you in both the subject line and the body of your email. This includes your full name, Social Security or taxpayer identification number, personal address, and phone number.
- Never include sensitive or identifying information in the subject line of your email. Encrypted email does not encrypt the subject line.
- You must encrypt and password-protect any documents you send to the IRS.
- The IRS accepts encrypted files in common formats from software like Microsoft Word, Excel, and Adobe Acrobat (PDF) or image formats like JPG and TIFF.
During the encryption process, you’ll create a password to provide the IRS employee access to the encrypted file. Choose a strong password that’s at least twelve characters long and include a mix of letters, numbers and symbols.
Immediately after sending the encrypted document send a follow up email with the password. Do not change the subject line on the follow up email.
There’s no way to recover a lost password. Create a copy of your original document and save it under a new name. Encrypt, password-protect and send the copy. This way, you can access your original document if the password is lost.
For more information, see the U.S. Treasury Department’s guide to encrypting and password protecting Microsoft Office and Adobe Acrobat (pdf) documents.
Report information to buyers
For vehicles placed in service in 2024 or later, providing buyers a copy of the seller report submitted to IRS Energy Credits Online and the confirmation that the IRS accepted the submission meets your reporting obligation.
For vehicles placed in service in 2023, you needed to provide the following information to buyers at the time of sale:
- Seller/Dealer name and taxpayer ID number
- Buyer’s name and taxpayer ID number
- Maximum credit allowable under IRC 30D for new vehicles or IRC 25E for previously owned vehicles
- Vehicle identification number (VIN), unless the vehicle is not assigned one
- Battery capacity
- Date of sale
- Sale price
- For new vehicles, verification that the buyer is the original user
If you are going to create an excel spreadsheet to report your sales to the IRS, your spreadsheet should have the headings bulleted in RED above.
Each report must include a declaration of accuracy signed by a representative of your business with binding authority. The declaration must read:
“Under penalties of perjury, I declare that I have examined this report submitted to the IRS pursuant to Revenue Procedure 2022-42 by [insert name of Seller], and to the best of my knowledge and belief I certify that this report is true, correct, and complete.”