R1Sky Business
Well-Known Member
Probably too early at this point. Give it a few weeksI am also interested in this if anyone has done it
Sponsored
Announcing our new "CLUBS" section where you can join or create a Rivian club or group! You can use this new feature to conveniently plan and discuss local events, gatherings or other club/group related topics.
So we encourage you to join (or start) special-interest and regional-based Rivian clubs at: https://www.rivianforums.com/forum/group-categories/clubs-groups.1/
Probably too early at this point. Give it a few weeksI am also interested in this if anyone has done it
Great, please keep the crew informed.I submitted an amendment 5/5 after taking delivery on 5/5.
Iāve felt like the binding agreement was good Iām just waiting to see if they accept the 2023 model year because when you go to https://fueleconomy.gov/feg/tax2022.shtml and select the binding agreement tab it does not show the 2023 model year Rivianās but it does show ford and bmwās 2023 modelsMain issue is that they appear to have accepted the CONTRACT. I'm calling it.... We're good!
Not how it works. They haven't even looked at the CONTRACT (AFAIK there is no way to submit it with your tax return).Main issue is that they appear to have accepted the CONTRACT. I'm calling it.... We're good!
Who hurt you? Letās bet $7,500 that the BPAs will be accepted.Not how it works. They haven't even looked at the CONTRACT (AFAIK there is no way to submit it with your tax return).
Accepting your return is only the first step - are all the referenced forms included, is the math correct, etc. They have not confirmed the actual validity of any deductions or tax credits.
You could claim tithing 10% of your gross income to a church and they would accept that at face value. Only if your return is later flagged for review/audit (they have at least three years to do so) will you be required to submit the documentation for questionable deductions/credits.
It is only after the IRS has requested, seen and accepted the Rivian BPA as a Binding Purchase Agreement (by their definition and guidelines) can anyone proclaim "We're good".
It is the way....!!! We're goodNot how it works. They haven't even looked at the CONTRACT (AFAIK there is no way to submit it with your tax return).
Accepting your return is only the first step - are all the referenced forms included, is the math correct, etc. They have not confirmed the actual validity of any deductions or tax credits.
You could claim tithing 10% of your gross income to a church and they would accept that at face value. Only if your return is later flagged for review/audit (they have at least three years to do so) will you be required to submit the documentation for questionable deductions/credits.
It is only after the IRS has requested, seen and accepted the Rivian BPA as a Binding Purchase Agreement (by their definition and guidelines) can anyone proclaim "We're good".
I'm not the one making the bet. Everyone counting on the BPA holding up is doing the betting.Who hurt you? Letās bet $7,500 that the BPAs will be accepted.
Why would you assume Rivian wonāt provide the necessary documentation to the IRS? They have until Jan 15, 2024, so itās clearly not a current priority. I have every confidence itāll happen by the date required.I'm not the one making the bet. Everyone counting on the BPA holding up is doing the betting.
Rivian has there collective heads up somewhere very dark when it comes to the Tax Credit. I'm still fighting with them to get the report they were required to provide at the time of delivery on my R1S. When they applied to the IRS to be a qualified manufacturer, they agreed to abide by the requirements set forth in Revenue Procedure 2022-42.
For 2023 returns, a tax credit claim will not be assumed to be valid by default. Instead it will be compared to the reports dealers (or manufacturers that do direct sales) are required to file no later than Jan 15th, 2024. If Rivian fails to file the report with the IRS that they won't provide to me (which at this point seems likely), I'm just as SOL as those that are relying on the BPA. Technically, I can't even request the report after the sale since my vehicle was not reclassified (The Mach-e, etc became SUVs and gained the bump in MSRP cap)
When I took delivery of my R1S, Rivian wouldn't even admit that they had an obligation to do anything at all. Now they are at the point of "we'll look into it". These guidelines were published in late 2022 and are very clear and specific as to Rivians obligations.
Because Rivian is theWhy would you assume Rivian wonāt provide the necessary documentation to the IRS? They have until Jan 15, 2024, so itās clearly not a current priority. I have every confidence itāll happen by the date required.
I'm betting it works out.I'm not the one making the bet. Everyone counting on the BPA holding up is doing the betting.
Rivian has there collective heads up somewhere very dark when it comes to the Tax Credit. I'm still fighting with them to get the report they were required to provide at the time of delivery on my R1S. When they applied to the IRS to be a qualified manufacturer, they agreed to abide by the requirements set forth in Revenue Procedure 2022-42.
For 2023 returns, a tax credit claim will not be assumed to be valid by default. Instead it will be compared to the reports dealers (or manufacturers that do direct sales) are required to file no later than Jan 15th, 2024. If Rivian fails to file the report with the IRS that they won't provide to me (which at this point seems likely), I'm just as SOL as those that are relying on the BPA. Technically, I can't even request the report after the sale since my vehicle was not reclassified (The Mach-e, etc became SUVs and gained the bump in MSRP cap)
When I took delivery of my R1S, Rivian wouldn't even admit that they had an obligation to do anything at all. Now they are at the point of "we'll look into it". These guidelines were published in late 2022 and are very clear and specific as to Rivians obligations.
Looks like youāre seeing some progress. Be patient.When I took delivery of my R1S, Rivian wouldn't even admit that they had an obligation to do anything at all. Now they are at the point of "we'll look into it". These guidelines were published in late 2022 and are very clear and specific as to Rivians obligations.