The Big EV Tax Credit Mystery
If you’re thinking about buying an electric vehicle, brace yourself: the federal tax credits that offer up to $7,500 off new EVs and $4,000 off used ones could change as soon as September 30. But here’s the real issue: Nobody knows for sure what happens next. Carmakers, consumers, and even some dealerships have been operating under the belief that a signed contract before September 30 locks in the credit. But now, some automakers are quietly admitting that the IRS has not finalized that rule.