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info@premiertaxpartners.com
Federal Tax IDs are required for many different organizations, including:
Sole Proprietorships/ Individuals
Limited Liability Companies
Partnerships
Corporations
S-Corporations
Trusts
Church-Controlled Organizations
Estates
Non-Profits
Some other business entities
Credits for New Electric Vehicles Purchased in 2024 or Before Attention: New Requirement! In accordance with new IRS regulations, beginning January 1, 2024, Clean Vehicle Tax Credits must be initiated and approved at the time of sale Federal Tax Credits for New Plug-in Electric and Fuel Cell Electric Vehicles Purchased in 2023 or After Federal Tax Credit Up To $7,500! All-electric, plug-in hybrid, and fuel cell electric vehicles purchased new in 2023 or after may be eligible for a federal income tax credit of up to $7,500. The availability of the credit will depend on several factors, including the vehicle's MSRP, its final assembly location, battery component and/or critical minerals sourcing, and your modified adjusted gross income (AGI). Learn more about requirements. Qualified vehicles purchased before 2023 may be eligible for a similar tax credit of up to $7,500. Pre-owned vehicles purchased in 2023 or after are eligible for a tax credit of up to $4,000. State and/or local tax incentives may also apply. Attention: New Requirement! In accordance with new IRS regulations, beginning January 1, 2024, Clean Vehicle Tax Credits must be initiated and approved at the time of sale. Buyers are advised to obtain a copy of the IRS’s confirmation that a “time-of-sale” report was submitted successfully by the dealer. Go to IRS publication 5900 to learn more! The information on this page applies to the Clean Vehicle Credit available to individuals and businesses. For details about the credit available to businesses and non-profit organizations, see Commercial Clean Vehicle Credit (IRS).
An EIN is a 9-digit number, like a social security number, that the IRS uses to identify certain entities for tax reasons. It’s a type of federal tax ID or government tax ID, and it’s formatted like 12-3456789. To apply for an EIN, you need to fill out an IRS form called Form SS-4. You can obtain a Form SS-4 for free, and fill it out for free, but many people find the process confusing and tedious. IRS EIN Filing Service can help you fill out paperwork for your EIN and file the required documents.