Has anyone received their refund for an amended 2022 federal tax return?

[antelux]

This might be a noob question - but how do you file an amendment through Turbo tax? I used a tax consultant to file my 2022 returns and they seems unaware of the possibility to file an amendment for EV tax credit. Any pointers would be really appreciated.

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[UnsungZero_OldTimeAdMan]

This might be a noob question - but how do you file an amendment through Turbo tax? I used a tax consultant to file my 2022 returns and they seems unaware of the possibility to file an amendment for EV tax credit. Any pointers would be really appreciated.

 

[Redmond Chad]

Another successful tax credit claim. Some others have taken a lot longer than this, some a lot less:
6/8 - R1S purchased
6/8 - '22 amendment filed via FreeTaxUSA. Asked for direct deposit (but they ain't doing that)
6/8 - IRS status checking page showed "Received"
8/11 - Status showed "Adjusted"
8/15 - Received check from Treasury for pre-IRA credit + interest

 

[R1Sky Business]

Another successful tax credit claim. Some others have taken a lot longer than this, some a lot less:
6/8 - R1S purchased
6/8 - '22 amendment filed via FreeTaxUSA. Asked for direct deposit (but they ain't doing that)
6/8 - IRS status checking page showed "Received"
8/11 - Status showed "Adjusted"
8/15 - Received check from Treasury for pre-IRA credit + interest

Winning!!!!

 

[Khoa]

I signed the Purchase Agreement on 8/15/2022. Does anyone know how I can have a copy of the document just in case?

 

[mkg3]

Since this is an interest to many, my timeline for the tax credit via amended return on TurboTax.

Picked up R1S 7/29/23
Filed Amended 2022 return via Turbotax and accepted by the IRS on 7/29/23
Received check in the mail for $7,500 and just over $170 interest 8/22/23

Total time 25 days.

Simple and easy.

 

[jayazusa]

Since this is an interest to many, my timeline for the tax credit via amended return on TurboTax.

Picked up R1S 7/29/23
Filed Amended 2022 return via Turbotax and accepted by the IRS on 7/29/23
Received check in the mail for $7,500 and just over $170 interest 8/22/23

Total time 25 days.

Simple and easy.

Thanks for the info, I am picking up tomorrow and have the ammended return ready to file. I was wondering the current timeline.

Thanks,
Jay

 

[UnsungZero_OldTimeAdMan]

I signed the Purchase Agreement on 8/15/2022. Does anyone know how I can have a copy of the document just in case?

Rivian emailed to you, via link. You were supposed to download it for safe keeping.

 

[sub]

Rivian emailed to you, via link. You were supposed to download it for safe keeping.

And if you can dig up the old email - the link still works (at least for me it does).

 

[UnsungZero_OldTimeAdMan]

And if you can dig up the old email - the link still works (at least for me it does).

Oh wow. Indeed it does. In case anyone need clues searching their inbox, subject of email is "Confirmation for Tax Return Records". And it was dated 8/26/2022, or there about.

 

[TD4PREZ2004]

Took delivery 6/16/23
Filed amended return for 2022 via CPA on 7/18/23
Received $7500+interest check today 8/22/23

Thank you to Rivian for being proactive with the March 2022 binding agreement, extra $7500 is a good look.

 

[XLR8R]

The following is broad-strokes. If you still have questions, best to ask a tax pro.

Do you have a binding purchase agreement from Rivian? sent from them and e-signed before the Inflation Reduction Act (IRA) was signed into law on 8/16/2022?

If yes:
- None of the IRA's credit eligibility rules and limits apply
- No income cap
- No battery sourcing requirement
- No vehicle price cap. Load it up to over $100k, it doesn't matter.
- To get full $7500 credit, you must have at least that much in tax liability for the year you are reporting or amending
- In case of audit, you need to be able to produce a copy of the binding agreement.
- In order to claim this credit, you'll need a VIN and you'll need to enter 8/15/2022 as your in-service date (exactly what IRS's guidance says to do).

If no:
- All IRA rules apply (income cap, vehicle price cap, battery sourcing)
- Because of battery sourcing, and until rules change or until Rivian can make changes on their battery supply, max credit allowed by Treasury is $3750
- Treasury did not rule on battery sourcing until mid-April. So, there was a transitory period before that where folks were exempt. I don't recall exact date or cutoff. But you can look that up on your own. If you've yet to take delivery, this exemption doesn't apply to you, since you need a VIN to file credit claim.

Is it your belief that the same applies even if you take delivery in 2024 and have the binding agreement? I thought I understood that those parameters were only in effect in 2023, and things changed if you took delivery in 2024, regardless of the binding, agreement. I think I recall you mentioning earlier in this thread that Rivian simply has to somehow acknowledge the 2024 delivery date, or some strange caveat like that. I just got pushed back to January/ February 2024, and now I'm scrambling to find answers to the potential implications.

 

[UnsungZero_OldTimeAdMan]

Is it your belief that the same applies even if you take delivery in 2024 and have the binding agreement? I thought I understood that those parameters were only in effect in 2023, and things changed if you took delivery in 2024, regardless of the binding, agreement. I think I recall you mentioning earlier in this thread that Rivian simply has to somehow acknowledge the 2024 delivery date, or some strange caveat like that. I just got pushed back to January/ February 2024, and now I'm scrambling to find answers to the potential implications.

It's not a belief. It's fact. Pay particular attention to end of first paragraph of 3/8/2023 email from Rivian, regarding IRS guidance on binding agreement and filing amendments (for tax year '22, as if you bought and put in-service on 8/15/2022):

From Rivian:

Dear <name>,
The IRS has released guidance on how taxpayers with valid written binding contracts signed on or before August 15, 2022 can claim the original EV tax credit—without restrictions on vehicle MSRP, buyer income, and manufacturing requirements—even if they don’t take delivery of the vehicle until 2023 or later.

That said IRS does have an existing statue of limitations on amendments:

There is a statute of limitations on refunds being claimed on amended returns. In general, if a refund is expected on an amended return, taxpayers must file the return within three years of the due date of the original return, or within two years after the date they paid the tax, whichever is later.

Thus, those who have signed the binding agreement, but have yet to take delivery or is thinking of delaying delivery... You need to keep this in mind.

 

[XLR8R]

It's not a belief. It's fact. Pay particular attention to end of first paragraph of 3/8/2023 email from Rivian, regarding IRS guidance on binding agreement and filing amendments (for tax year '22, as if you bought and put in-service on 8/15/2022):



That said IRS does have an existing statue of limitations on amendments:


Thus, those who have signed the binding agreement, but have yet to take delivery or is thinking of delaying delivery... You need to keep this in mind.

Thank you for spelling that out! I haven't filed '22 taxes yet (paid estimated taxes, obviously), so I should have no issues with a (scheduled) early 2024 delivery.

As an aside, once upon a time, I graduated from Pepperdine with an advertising degree. TBWA/Chiat/Day in LA offered me an entry-level position for about $25k/yr...so I moved back to KC and got into real estate and real estate investing. Turns out, after all that work, I wasn't willing to "pay my dues." Sounds like you are one of the successful ones! Thanks again for the guidance.

 

[UnsungZero_OldTimeAdMan]

Thank you for spelling that out! I haven't filed '22 taxes yet (paid estimated taxes, obviously), so I should have no issues with a (scheduled) early 2024 delivery.

Good luck. And if you use TurboTax for your taxes, it's suspiciously easy. lol

As an aside, once upon a time, I graduated from Pepperdine with an advertising degree. TBWA/Chiat/Day in LA offered me an entry-level position for about $25k/yr...so I moved back to KC and got into real estate and real estate investing. Turns out, after all that work, I wasn't willing to "pay my dues." Sounds like you are one of the successful ones! Thanks again for the guidance.

I worked there ("Chiat Day & Night"). Helped launch the Nissan LEAF and US debut of GT-R, among countless less interesting accounts. It wasn't easy. I liken it to the advertising equivalent of bootcamp. Successful? Hardly. After nearly 3 decades, still a peon. I have a Rivian only because I got lucky with some early TSLA shares. I joke that Elon bought it for me.

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