WASHINGTON — The U.S. government has reimbursed auto dealers for more than $580 million in advance point-of-sale consumer electric vehicle tax credit payments since Jan. 1, the Treasury said on Friday.
The Internal Revenue Service has received approximately 100,000 time of sale EV reports this year and paid more than $580 million in advance payments to dealers since Jan. 1, Treasury said. Treasury spokesperson Haris Talwar said"demand is high four months into implementation of this new provision." Since then, many have regained eligibility including the Volkswagen ID.4, Nissan Motor Leaf, GM's Chevy Blazer EV and Cadillac Lyriq.
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