Rivian Tax Credit Email

[MidnightRivian]

Here is the links I used to figure out if I need to sign this document if I used the binding agreement to claim on your 2022 return. I believe the answer is no, I do not have to fill this out if I filed for the credit using the 2022 return.

Edit: As a hedge I can sign it in case I get audited and they claim the 2022 credit is not qualified based on the $100 deposit for binding agreement being to low. Then I could give back the $7,500 for 2022 and instead claim $3,750 for 2023.

This document applies to folks who want to claim on their 2023 returns using the inflation reduction act.

The 2023 rules state the dealer has to report the information to the IRS. I do not see any language requiring dealers to report sales under the 2022 credit.

If you place in service a new plug-in electric vehicle (EV) or fuel cell vehicle (FCV) in 2023 or after, you may qualify for a clean vehicle tax credit.

At the time of sale, a seller must give you information about your vehicle's qualifications. Sellers must also register online and report the same information to the IRS. If they don't, your vehicle won't be eligible for the credit.

Sellers of new clean vehicles and dealers who sell used clean vehicles must meet reporting requirements for those vehicles to be eligible for a credit under IRC 30D and 25E.



https://www.irs.gov/credits-deductions/credits-for-new-electric-vehicles-purchased-in-2022-or-before

https://www.irs.gov/credits-deductions/credits-for-new-clean-vehicles-purchased-in-2023-or-after

https://www.irs.gov/credits-deductions/clean-vehicle-credit-seller-or-dealer-requirements

https://www.irs.gov/newsroom/topic-...ents-apply-to-the-new-clean-vehicle-credit#q8

Q8: If I purchased or entered into a written binding contract to purchase my new clean vehicle after December 31, 2021, and before August 16, 2022, and placed it in service after December 31, 2022, what requirements apply and what tax year's return can I claim the new clean vehicle credit on? (added March 31, 2023)

A8: If you purchased or entered into a written binding contract to purchase a new clean vehicle after December 31, 2021, and before August 16, 2022, but took possession on or after August 16, 2022, you may claim the credit based on the requirements for the credit that applied on August 15, 2022, the day before the IRA was enacted. To do so, you are required to claim the credit on a tax return for tax year 2022. Depending on the date the vehicle is placed in service, you may claim the credit on an original, superseding, or amended return for tax year 2022.

Taxpayers may not claim the credit before they take possession of the vehicle. While taxpayers should file when they are ready, they should avoid filing prematurely. If you have not received the vehicle before your original tax filing deadline and you have the option, consider applying for an automatic extension of time to file your return.

If you have not yet filed your tax return for tax year 2022 at the time you take possession of your new clean vehicle, you may claim the credit on your original 2022 tax return. If you have already filed your tax return for tax year 2022 at the time you take possession of the new clean vehicle, you may file an amended tax return for tax year 2022 and claim the credit. Generally, taxpayers must file an amended return within 3 years after the date the original return was filed or within two years after the date they paid the tax, whichever is later.

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[RIV206]

Thanks @MidnightRivian for all that info!

 

[MidnightRivian]

Thanks @MidnightRivian for all that info!

You're welcome. Keep in mind as a back-up you might want to sign-up in case they let us know the 2022 credits for binding agreement don't apply to Rivian transactions. We could return the credit under 2022 and claim under 2023.

 

[UnsungZero_OldTimeAdMan]

Just to clarify, the binding contract is the date when you sent the initial deposit of $1000?

No

 

[SANZC02]

Just to clarify, the binding contract is the date when you sent the initial deposit of $1000?

No the day you signed the agreement. The filing instructions tell you the date to use for in service.

 

[Singletracker]

Got this email, as well, and I’m also a little confused. I filed my 2022 taxes about two months ago, including all the info regarding the BPA. I’m assuming it is all being processed in a normal, if slow, fashion. I have no idea what this email is all about and why the urgency. I, too, am always very suspect of emails that seem a little off. I never follow links, unless I am 100% sure they are legit. Time to go directly to Rivian for answers.

 

[dleepnw]

the email Rivian sent was phishy AF. what the hell kind of email is this that you dont send a heads up to customers first or at least give an explanation in the email itself? oh wait, nvm, this is Rivian comms team were talking about - all normal.

 

[SANZC02]

the email Rivian sent was phishy AF. what the hell kind of email is this that you dont send a heads up to customers first or at least give an explanation in the email itself? oh wait, nvm, this is Rivian comms team were talking about - all normal.

I did get an earlier email today to look for this email in the next 48 hours. If you did not get it here is the text as it has deadlines to get the vin registered with the IRS.

——————- Email Text. —————

Hi xxxxxx, To apply for your Federal New Clean Vehicle Tax Credit from the IRS, here are some important things to know:​

•​ Rivian is required to report a qualifying clean vehicle sale to the IRS by January 15, 2024 in order for you to be eligible to receive the tax credit.​ •​ Within 48 hours of receiving this email, you will receive a separate email from Onespan with a link to your reporting form.​ •​ Please review the form, input your SSN, sign the attached acknowledgment and submit your reporting form to Rivian no later than 11:59PM PST on January 10th, 2024, so that we can send it to the IRS. If you don’t have an SSN, enter your ITIN. It’s important to note that the form should only be signed by the person whose name is listed on it.​ •​ You will still need to file Form 8936 with the IRS on your personal tax return.​

Please Note: If you do not submit your reporting form to Rivian by January 10th, 2024, your vehicle won’t be eligible to receive the credit. It’s also important to know that submitting your reporting form does not automatically make you eligible to receive the Federal New Clean Vehicle Tax Credit. Please review the IRS requirements and consult a tax professional for qualification guidelines.​

 

[SANZC02]

Rivian definitely does not have my SSN, I was wondering how this reporting was going to happen, now we know.

Seems like a huge rush only 5 days before the deadline and less depending on when we get the next email. Hope it can all be done online as I will be out of town.

Update,

The second email came, super easy, accept e-sign terms, verify info, enter SSN, sign and submit document. Entire process < 5 minutes, you then get a confirmation email to download completed docs.

Edit:
Is good to see based on my 79k purchase and January 2023 delivery the form shows it is eligible for the full 7500 credit in 2023. ??

 

[Prime]

So I didn’t get a clear understanding. If we filed previously and already obtained the tax credit is there any reason to do this? Is this an insurance policy for an audit?

I imagine the tax credit wouldn’t have come through if there wasn’t already some record of ownership.

 

[SurfnBike]

Ok dummy here. I singed the BPA but forgot to submit IRS form 8936 when I did my 2022 return this last fall 2023. I took delivery of my truck in May of 2023.

Should I file a 2022 amendment or follow the email and try and claim the $7500 on my 2023 taxes? Sticker price was under 80k.

Mucho gracias haha

 

[SANZC02]

So I didn’t get a clear understanding. If we filed previously and already obtained the tax credit is there any reason to do this? Is this an insurance policy for an audit?

I imagine the tax credit wouldn’t have come through if there wasn’t already some record of ownership.

If you amended your 2022 and got the refund you would not need it. The reporting is for 2023 and beyond.

 

[Prime]

If you amended your 2022 and got the refund you would not need it. The reporting is for 2023 and beyond.

Ok that is what I did and I did get the refund. Thanks for the clarification.

 

[SANZC02]

Ok dummy here. I singed the BPA but forgot to submit IRS form 8936 when I did my 2022 return this last fall 2023. I took delivery of my truck in May of 2023.

Should I file a 2022 amendment or follow the email and try and claim the $7500 on my 2023 taxes? Sticker price was under 80k.

Mucho gracias haha

If you signed the binding contract you should amended the 2022 for the full 7500. The 7500 is only good in 2023 if you too delivery prior to April 17th. After that the amount is only half because they do not meet the battery material sourcing requirements, so only 3750.

 

[propofoldream]

Alright forum peeps… help me out. I did NOT receive this email, but I am curious how this might affect my future R1S preorder that is still outstanding. I have a R1S preorder that was placed in early 2022 and a signed purchase agreement, however, I am not in any rush to take delivery of my R1S. In fact, I had planned to sit on the preorder for a few more months. The plan has been to amend the 2022 tax *at some point* (in 2024) using the purchase agreement to claim the tax credit under the old Aug 15th tax credit requirements. Does this email y’all received change anything for me?? I believe no, correct? As long as I still plan to amend the 2022 tax return (and not claim it in 2023/24), nothing changes??

BTW, we already have the R1T (30k+ blissful miles and counting)… but i’m still kinda watching the evolution of dual vs quad and large vs max for our future R1S. Also curious if they will release the new colors RJ showcased a few months back (evergreen and stone).

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