(Reuters) - 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.

Prior to 2024, U.S. auto buyers could only take advantage of the $7,500 new electric vehicle credit or $4,000 used EV credit when they filed tax returns the following year.

The Internal Revenue Service has received approximately 100,000 time of sale reports this year and paid more than $580 million in advance payments to dealers since Jan. 1, Treasury said.