Rivian posts updated IRS guidance for BPA + Instructions to claim EV Tax Credit

[Prime]

Rivian just sent this email

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[jollyroger]

I got this too. (Darn you're fast) Hopefully Tax Act will let me do this.

 

[Donald Stanfield]

Also got this email. Sounds good to me.

 

[Madsen203]

*reconfigures vehicle

 

[nicus90]

Got the same message

 

[Feetdry]

Yey!, Off to my CPA when I finally get one of these things. Not a deal breaker but it helps with buying this R1T.

 

[Sgt Beavis]

I was just finishing this part of my tax returns today. Good thing this is settled. I sold a piece of property last year and the tax credit is covering the taxes owed on it.

 

[SASSquatch]

Welcome news. Now where's that email on the power tonneau redesign!

 

[tren01t]

Uh huh, uh huh, uh huh!
Time to break out into that church lady dance,
or shall I raise my pinky finger to my lip and go full Dr. Evil?
Okay, Okay, Okay, how about both, lol, lol, lol......

 

[R1Sky Business]

D

Rivian just sent this email

Dark-Fx beat RIVIAN to it.

 

[tren01t]

D
Dark-Fx beat RIVIAN to it.

Yeah he did and I did the dirty deed 2 nights ago,
Bwaaahaaaa!

 

[mackgriggs]

So...I have both a r1s and r1t reservation, both with the binding contracts. R1s due this summer, rt1 due in 2024.

From the sounds of this....it sounds like right now I file my 2022 taxes like normal. Then, after I get the 2023 R1s, I can file an amended 2022 return and ask for the $7500 credit. Then...when I get the 2024 r1t, I amend my 2022 return AGAIN and claim another $7500 for the second vehicle.

Sound right? And I believe the $7500 is per vehicle credit and you can claim it multiple times in a year?

 

[DuoRivians]

So...I have both a r1s and r1t reservation, both with the binding contracts. R1s due this summer, rt1 due in 2024.

From the sounds of this....it sounds like right now I file my 2022 taxes like normal. Then, after I get the 2023 R1s, I can file an amended 2022 return and ask for the $7500 credit. Then...when I get the 2024 r1t, I amend my 2022 return AGAIN and claim another $7500 for the second vehicle.

Sound right? And I believe the $7500 is per vehicle credit and you can claim it multiple times in a year?

Yes

 

[freshpow]

I hope @JohnB R1T will do right by his clients and let them know to amend their tax returns because his "homegrown interpretation" was way off base!

 

[JohnB R1T]

I hope @JohnB R1T will do right by his clients and let them know to amend their tax returns because his "homegrown interpretation" was way off base!

If you'd be so kind as to NOT misquote me, it would be a classy move.
If you read back to everything I wrote, I specifically stated that I was not (and had not) provided any guidance here or to any of my clients (none of whom have bought a Rivian).

I stand by my statement that many with a homegrown interpretation of what constitutes a "binding agreement" will be disappointed, and gave just one of several examples of the hairball things that people were saying.

Kindly go pick on someone else.

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