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Reply to "The $7,500 electric vehicle tax credit ends soon—but new rules give buyers extra time"
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[quote=Anonymous][quote] A federal tax break worth up to $7,500 for new EVs and up to $4,000 for used ones expires Sept. 30, but new Internal Revenue Service guidance says shoppers can still qualify if they sign a binding contract and make a payment before the deadline, even if the car is delivered later. Previously, eligibility was tied to the delivery date. That meant even if a buyer signed a contract before Sept. 30, they could lose the credit if shipping delays pushed delivery into October. The tax break is still only claimed once the buyer takes possession of the vehicle, but the qualifying date is now tied to the contract and payment, the IRS says. This makes qualifying for the credit less of a risk for those purchasing close to the deadline. [/quote] https://www.cnbc.com/2025/08/26/ev-tax-credit-ends-soon-but-new-rules-give-buyers-extra-time.html FYI for anyone looking to buy and wanting the credit.[/quote]
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