Received my $7,500 Tax Refund for Amended 2022 Return!

[UnsungZero_OldTimeAdMan]

I've seen this stated a few times in the forum, but am wondering if anyone has actually exceeded the $80k and still gotten the refund for '22. I.e. moved it from an interpretation to proven reality.

I currently have my R1S configured with 21s, but after reading around the forum am strongly leaning towards switching to 20s, then swapping to a road tire, which gets the same range as the 21, but with cheaper tires.

Not sure what you are chasing. If you have the purchase agreement Rivian offered (and you signed) before IRA was signed into law on 8/16/2022, and you are claiming the old credit of upto $7500 by amending your ‘22 return, none of the IRA’s restrictions matter. None. Income cap. Price cap. Battery sourcing. None of it applies to you. Instead, all of the old rules apply. It doesn’t matter what wheels you choose. Load it up to over $100k. Still don’t matter. What matters is having a copy of the agreement, in case of audit, and a VIN to file with.

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[runwithscissors]

Not sure what you are chasing. If you have the purchase agreement Rivian offered (and you signed) before IRA was signed into law on 8/16/2022, and you are claiming the old credit of upto $7500 by amending your ‘22 return, none of the IRA’s restrictions matter. None. Income cap. Price cap. Battery sourcing. None of it applies to you. Instead, all of the old rules apply. It doesn’t matter what wheels you choose. Load it up to over $100k. Still don’t matter. What matters is having a copy of the agreement, in case of audit, and a VIN to file with.

Agreed, some on Reddit/here including CPAs are saying we'll be audited etc.. I'm waiting until the charger install is complete and I'll submit for that too prior to amending my '22 return to include the PBA. If they come after me in a few years I'll just have to pay the penalty but it's completely worth the "risk". To walk away from $7500 is bananas if you signed the PBA. I'm just wondering what my CPA will say but I already let him know this back in April so we'll see.

 

[UnsungZero_OldTimeAdMan]

I have the

Agreed, some on Reddit/here including CPAs are saying we'll be audited etc.. I'm waiting until the charger install is complete and I'll submit for that too prior to amending my '22 return to include the PBA. If they come after me in a few years I'll just have to pay the penalty but it's completely worth the "risk". To walk away from $7500 is bananas if you signed the PBA. I'm just wondering what my CPA will say but I already let him know this back in April so we'll see.

I have the agreement with Rivian’s e-sig. I have the email from them with “IRS guidance” and links to IRS’ own instructions and form. Go ahead and come audit. Some of the thing that people say and get passed around on reddit is just absolutely ridiculous. CPAs are conservative by training/trade. It is their professional duty to inform clients of risk, no matter how small. People don’t take that into context and are blowing it out of proportion and predicting doom.

 

[Tdfster]

I have the

I have the agreement with Rivian’s e-sig. I have the email from them with “IRS guidance” and links to IRS’ own instructions and form. Go ahead and come audit. Some of the thing that people say and get passed around on reddit is just absolutely ridiculous. CPAs are conservative by training/trade. It is their professional duty to inform clients of risk, no matter how small. People don’t take that into context and are blowing it out of proportion and predicting doom.

I'm not a CPA. I'm not predicting doom or looking for an argument. As stated in my question - I see a lot of stuff in forums stating opinions or interpretations, I'm wondering if there is anyone who has actually proven it out. In other words, actually received the refund from their '22 return after exceeding the new rules (specifically the $80k). That is all. So far all the responses have still been opinions - no one has raised their hand and said "yep, I did it successfully".

 

[Robotpedlr]

Got our check today also… was concerned when I saw the IRS site said “adjusted”. But it was adjusted UP to include interest ($7,594).

Binding agreement from Aug 16 2022, amended 2022, June 2023 delivery

 

[MidnightRivian]

I just checked my mailbox and I had a check sitting in the mailbox for $7,579. That's pretty much 10% of the vehicle price.

Thanks!

Picked up vehicle on June 17 and filed amended tax return filed on June 18.

Check in the mailbox on August 1st.

 

[ReyvaRivian]

Somewhat Unique question if anyone has insight.

2022 We filed married Jointly and claimed $7,500 credit for VW ID.4 (car only under wife’s name)

I signed the PBA w Rivian and expecting R1S delivery by end of the year (car only under me) pre-March pricing. Build is < $80k.

In such situations can we amend 2022 and file married filing separately and each take $7,500 credit?

Two EVs in household, married filing separately so hoping each can claim the federal credit … I’ve asked our CPA and sent PBA but it’s new territory and he’s still looking into it.

Concern is if I don’t amend 2022, then for 2023 we may not be under income restrictions and the credit would be only $3,750, so hoping to make the right call.

 

[GreenOptimist]

Somewhat Unique question if anyone has insight.

2022 We filed married Jointly and claimed $7,500 credit for VW ID.4 (car only under wife’s name)

I signed the PBA w Rivian and expecting R1S delivery by end of the year (car only under me) pre-March pricing. Build is < $80k.

In such situations can we amend 2022 and file married filing separately and each take $7,500 credit?

Two EVs in household, married filing separately so hoping each can claim the federal credit … I’ve asked our CPA and sent PBA but it’s new territory and he’s still looking into it.

Concern is if I don’t amend 2022, then for 2023 we may not be under income restrictions and the credit would be only $3,750, so hoping to make the right call.

Zero reason to switch to filing separately. There is no limit on the number of credits so you can simply amend with both credits on your filing.

 

[CardiacR1S]

I just checked my mailbox and I had a check sitting in the mailbox for $7,579. That's pretty much 10% of the vehicle price.

Thanks!

Picked up vehicle on June 17 and filed amended tax return filed on June 18.

Check in the mailbox on August 1st.

Wow. That is Sport Mode fast. How did you file?

 

[MidnightRivian]

Wow. That is Sport Mode fast. How did you file?

SPORT MODE FTW

Online using The most basic free tax software.

It’s literally called FREETAXUSA. I knew ahead of time I would file an amended return so I paid their $10 fee to refile ahead of time. Previous years it’s been totally free to use the service for Federal If you don’t have to amend. Even right now it’s free if you need to file for Federal.

IRS even mentions free tax USA on their website as a free filing service for people who make less than $46,000. In addition free tax USA already has free filings for federal and only makes their money on state returns or amendments and additional support.

I’ve used them for the last five years for free and only just paid them this one time so I could file an amended return. I’d say it’s well worth it compared to paying a professional accountant and they run their mouth saying you’re not qualified.

IRS can go ahead and audit me. I got all my binding agreements and have everything done by the book I’d rather get the refund first and then put the onus on IRS to come audit me

https://www.freetaxusa.com/

 

[Batman]

I filed mid May and just got my $7,500 check in the mail! Plus $29 of interest.

I e-filed via our tax software (I’m a CPA) which certainly made it quicker than paper filing.

When you amended your 2022 taxes, did you only have to submit form 8936 plus Original Binding contract? Or do you also have to submit the Purchase Summary/Agreement(these docs obviously have 2023 dates on them)?

 

[McMoo]

When you amended your 2022 taxes, did you only have to submit form 8936 plus Original Binding contract? Or do you also have to submit the Purchase Summary/Agreement(these docs obviously have 2023 dates on them)?

Just the 8936 filled out properly with a in service date of 8/15/22. Nothing else needs to be attached.

 

[FlightDoc]

I have the

I have the agreement with Rivian’s e-sig. I have the email from them with “IRS guidance” and links to IRS’ own instructions and form. Go ahead and come audit. Some of the thing that people say and get passed around on reddit is just absolutely ridiculous. CPAs are conservative by training/trade. It is their professional duty to inform clients of risk, no matter how small. People don’t take that into context and are blowing it out of proportion and predicting doom.

OK my dumb question, what is a "binding" agreement? I put in $1000 and preordered in 2021. Took delivery Feb 2023. Don't recall getting any paperwork for a binding agreement.

 

[SwaziCAR]

OK my dumb question, what is a "binding" agreement? I put in $1000 and preordered in 2021. Took delivery Feb 2023. Don't recall getting any paperwork for a binding agreement.

Check your spam folder for this message from Rivian on/about 8/10/2022:

We've received quite a few inquiries from the Rivian community asking how the Inflation Reduction Act (IRA) may impact your eligibility to obtain the $7,500 IRC 30D federal EV tax credit when you purchase your R1T or R1S. Here's what we know and how we plan to support our customers’ efforts to maintain eligibility for the federal EV tax credit.

The Inflation Reduction Act may soon become law.

Once signed into law, the Inflation Reduction Act will add new restrictions to buyers’ eligibility to receive the $7,500 IRC 30D federal EV tax credit. Under these new restrictions, an electric pick-up truck or SUV must be priced below $80,000 and the buyer must fall below certain income thresholds to qualify.

Fortunately, buyers who have a “written binding contract” to purchase a qualified EV before the Inflation Reduction Act becomes law will be able to apply under the current IRC 30D tax credit requirements.

What Rivian preorder and reservation holders can do.

If you’d like to sign a binding contract for your R1T or R1S purchase, click “Review and Accept” below. Signing the contract will make $100 of your existing $1,000 deposit non-refundable and help you to maintain eligibility to apply for the $7,500 tax credit under its current requirements. According to the Senate bill, any customer with a binding contract will not be subject to the new vehicle price and income restrictions when applying for the federal tax credit, regardless of the vehicle delivery date. We do want to caution that the final bill terms are not certain and have not yet been passed by the House of Representatives. Further, we cannot guarantee that the IRS will approve tax credit eligibility as we interpret the terms of the Inflation Reduction Act. However, we are offering our customers this opportunity as a way to do what we can to increase the probability of receiving the $7,500 IRC 30D tax credit.

When will the Inflation Reduction Act be enacted?

While we can’t predict exact timing nor guarantee it becomes law, this bill has already passed the Senate and will head to the House for a vote on Friday, August 12. All indications are that this legislation should pass the House and then be signed into law. Once signed, the Inflation Reduction Act is considered enacted.

Rivian customers interested in signing a binding contract may do so by clicking the button below and agreeing to the terms. Once the Inflation Reduction Act becomes law, customers will lose this chance and be subject to the new restrictions on vehicle price limits and personal income caps.

What happens if I decide to do nothing?

Taking this step is your choice. If you decide not to sign the binding order agreement, your Rivian deposit will remain under our existing fully refundable terms.

 

[biker1284]

General question to anyone:
When you bought the rivian is all your paperwork dated on the actual day you purchased in 2023 and including the 2023 date?

Does it say the binding agreement date anywhere or is that strictly/only on the original the paper we signed that is dated 8/15/22?

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