Rivian Tax Credit Email

[Autolycus]

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).

This email only relates to sales that happened in 2023.

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[CaptRat]

The first email “How to get your Federal New Clean Vehicle Tax Credit” doesn't consider those that took possession in 2023 but have a signed binding agreement and already amended their 2022 tax for the refund. And there in lies the confusion. For me, the process was complete when I amended my 2022 tax and received the $7500 credit. I followed the IRS instructions at the time and have the supporting documents. Case closed.

 

[Autolycus]

I amended my return for 2022. I’m tempted to go on and sign this as a backup plan in case the IRA ever decides I wasn’t really eligible for 2022. But I’m also a little worried that signing it will somehow flag me as a 2023 buyer, causing an audit on 2022.

probably a silly worry.

 

[Batman]

I have a binding contract from August 2022. I took delivery in June 2023. I have yet to file for the 7,500.

I was planning on amending 2022 during this tax season. So do I ignore this and continue with my approach? Or do I need to fill this out?

 

[FTEVB]

I also had a price protected order and binding sales agreement. I took possession of my R1S in August of 2023. Filed an amended 2022 return for the full $7500 credit soon thereafter. Still waiting for it to be processed and the IRS website says it is taking up to 20 weeks to processes amended returns (and they tell you not to call them or refile the amended return during that time).

Already emailed Rivian CS and got an auto reply saying they are experiencing high email volume. Plan to text my guide this morning. Read the form they sent and I am not planning on signing it, as it does it does not show the 8/15/22 delivery date we were directed to report to the IRS on our 2022 tax returns, and it says I am capped at $3750 credit (under new rules). It does not seem that this process in designed for people with binding sales agreements.

 

[yungish]

I have a binding contract from August 2022. I took delivery in June 2023. I have yet to file for the 7,500.

I was planning on amending 2022 during this tax season. So do I ignore this and continue with my approach? Or do I need to fill this out?

I am in this same situation, anyone have any thoughts?

 

[NY_Rob]

I have a binding contract from August 2022. I took delivery in June 2023. I have yet to file for the 7,500.

I was planning on amending 2022 during this tax season. So do I ignore this and continue with my approach? Or do I need to fill this out?

I am in this same situation, anyone have any thoughts?

From post #16 in this thread... TLDR: if you meet the criteria below your will not be claiming the "IRA Credit", you will be claiming the old $7,500 IRS credit that was in place before Aug 16th 2022 so you do not need to fill in the IRA related forms.

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.

 

[R1Tmcg]

I claimed the 7500 credit using the binding agreement in the 2022 tax season.

I sent this over to my accountant and they confirmed that this is optional to fill out for Rivian, but not necessary if you've already claimed the credit previously.

Like others have said, no double dipping.

 

[dode]

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.

Out curiosity have you received your refund yet? I'm in similar situation. CPA amended my '22 back in August but have yet to receive my refund.

 

[dode]

I amended my return for 2022. I’m tempted to go on and sign this as a backup plan in case the IRA ever decides I wasn’t really eligible for 2022. But I’m also a little worried that signing it will somehow flag me as a 2023 buyer, causing an audit on 2022.

probably a silly worry.

Feel the same seeing I've been waiting since late Aug for my amended return to come.

 

[RIV206]

Feel the same seeing I've been waiting since late Aug for my amended return to come.

We submitted ours in late June and just got the check last week

 

[DCRiv]

I was about to click on the "Have Questions? Contact Us." link and then I said, "I bet they're already talking about this on the forum." You guys never disappoint.

Yeah, Rivian should double-check this against the list they (should) have of those who signed the "binding pre-order agreement". I would hate for someone to think they can double-dip...

Just received the email posted below from Rivian. I've already amended my 2022 taxes and received the $7,500. I'm assuming I ignore this? The part that caught my attention is "Rivian is required to report the sale". Wouldn't that have already been done since I received my refund already?

General question about this…I signed the binding contract and all that, just received my R1S two weeks ago (totally in love with it) and went to amend 2022 return and my CPA told if your income was over $300k in 2022 then you’re eligible for $0 of the $7500 credit.
Is that right? I feel like the whole point of signing the binding contract was that there WAS no income cap pre-IRA legislation…did I completely make that up in my head as wishful thinking or is my CPA missing something?
Thanks all, this forum is awesome

 

[Redline]

Just got the follow-up e-mail from OneSpan.

Not sure I have anything to do as we don't qualify for the credit.

 

[Tango45]

General question about this…I signed the binding contract and all that, just received my R1S two weeks ago (totally in love with it) and went to amend 2022 return and my CPA told if your income was over $300k in 2022 then you’re eligible for $0 of the $7500 credit.
Is that right? I feel like the whole point of signing the binding contract was that there WAS no income cap pre-IRA legislation…did I completely make that up in my head as wishful thinking or is my CPA missing something?
Thanks all, this forum is awesome

I would take the risk of saying they are wrong for the pre-IRA incentive. I’ll just say I got my $7500 for each car (Hyundai Ioniq 5 purchased 2/2022 and R1S with BPA, delivered 2/2023). Only caveat is that I got the R1S in time to not have to file amended.

 

[DCRiv]

I would take the risk of saying they are wrong for the pre-IRA incentive. I’ll just say I got my $7500 for each car (Hyundai Ioniq 5 purchased 2/2022 and R1S with BPA, delivered 2/2023). Only caveat is that I got the R1S in time to not have to file amended.

Thanks for the speedy reply! So you’re income was $300+ and you were still able to get the credit?

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