Electric vehicle purchases have long been eligible for a federal tax credit of up to $7,500. That is changing on Sept. 30 thanks to the One Big Beautiful Bill Act, which eliminated the credit.
However, the IRS is offering some relief, giving taxpayers some leeway on the end of the credit. Consumers who enter a binding contract to purchase an electric vehicle before Sept. 30 may still be eligible for the credit, even if the vehicle isn't delivered until after that date.
