IRS gives leeway for Sept. 30 deadline for electric vehicle tax credits

The Internal Revenue Service is offering some leeway for consumers rushing to buy an electric vehicle before federal tax credits expire next month. 

The IRS last week modified the phase-out of the electric vehicle tax credits mandated by President Donald Trump’s One Big Beautiful Bill Act, terminating billions of dollars in clean energy tax credits that the Biden administration enacted through the 2022 Inflation Reduction Act.

The Republican megabill, signed by Trump on July 4, eliminated the IRA’s EV tax credits, which offered consumers up to $7,500 for purchasing a new EV and $4,000 for a used one...