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EV Buyers Gain Flexibility as IRS Extends Tax Credit Deadline Interpretation
EV Buyers Gain Flexibility as IRS Extends Tax Credit Deadline Interpretation
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BTCCSquare news:
Prospective electric vehicle purchasers from Tesla, General Motors, and Ford received unexpected relief as the IRS reinterpreted critical language in the OBBB Act. The new guidance allows buyers to secure the $7,500 tax credit through written contracts and deposits before September 30, 2025, with vehicle delivery permitted afterward.
The clarification overturns manufacturers' initial understanding that both sale and delivery needed completion by the deadline. Dealers must now provide time-of-sale reports for post-deadline deliveries, which buyers submit through the Energy Credits Online portal. This administrative flexibility could accelerate EV adoption during the transition period.
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