Tesla, GM, Ford EV buyers get extra breathing room ahead of tax credit expiration
The IRS now says the meaning of the word "acquired" under the law doesn't necessarily mean delivery must take place before the deadline.
"If a taxpayer acquires a vehicle by having a written binding contract in place and a payment made on or before September 30, 2025, then the taxpayer will be entitled to claim the credit when they place the vehicle in service (namely, when they take possession of the vehicle), even if the vehicle is placed in service after September 30, 2025," the IRS said.
