Amended return rejected

[Bruins06]

No issues getting my tax rebate.

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[godfodder0901]

My understanding is the 7500 is a credit not a refund.

If you owe 7500 you file for the credit and owe nothing
If you owe 3000 you file for the credit and owe nothing but lose the 4500

How it's built? My taxes had the 7500 on it and it went through fine.

Sort of. It isn't whether you owe or not, it's what your tax liability is.

 

[UnsungZero_OldTimeAdMan]

Good morning,
Hope everyone is enjoying the Haloween organ music! I signed the binding agreement for the Rivian in 2022 and got delivery in 2023. I submitted an amended federal return, but it was rejected. Has anyone had success / failure in getting the 7500?

Thanks!!!

You must've done something wrong. I e-filed on 7/23 and had check in hand by 8/15. I also had total tax liability greater than the 7500.

 

[DavidP]

Definitely talk to a tax specialist in order to verify how much money you'll get then.

But as far as qualification for the credit goes, you can take delivery either this year or next year. Since you're under $80,000, you don't have to use the binding contract at all.

If you take delivery this calendar year, your 2023 tax liability will be reduced by up to $7500 when you file taxes in 2024.

If you take delivery next calendar year, your 2024 tax liability will be reduced by up to $7500 when you file taxes in 2025.

But if you've been getting a full refund every year, and your tax liability is $0, then the credit won't give you any money.

This only applies to the federal tax credit. If your state does any rebates, then that may work differently.

If you do not have any tax liability, you are better off waiting to take delivery until 2024 because the credit can be transferred to the dealer and taken at the point of sale, but not until 1/1/24. This is the only way people who don't have any tax liability can receive the benefit of the EV credit.

https://www.cnbc.com/2023/10/10/750...-easier-to-get-in-2024-per-treasury-rule.html

 

[Riviot]

Alternatively if it's under $80k, and you think you'll have over $7500 liability for 2023's taxes, you can accept delivery this calendar year and not utilize the Binding Agreement when you file in 2024.

Sorry, but lots of folks are putting the wrong 2023 credit. It's $3750.

 

[djsider2]

Depends on when in 2023. There was change on Apr 18th that cut it to $3750.

https://rivian.com/support/article/...e-federal-tax-rebate-after-the-new-battery-re

 

[Whatever_this_is]

Can I take delivery in 2024 or 2025 and still get the 7500 refund from my 2022 returns, assuming I had the binding agreement?

 

[Sully151]

I amended my return in July. Have a tax liability greater than $7500. Have a BPA.

Nothing but crickets. Haven’t heard anything about my credit.

How long should I wait before contacting someone and who should I contact?

I filed through Turbo Tax.

 

[GrnFrg13]

I amended my return in July. Have a tax liability greater than $7500. Have a BPA.

Nothing but crickets. Haven’t heard anything about my credit.

How long should I wait before contacting someone and who should I contact?

I filed through Turbo Tax.

You can check the status here.

https://www.irs.gov/filing/wheres-my-amended-return

 

[GreenOptimist]

I amended my return in July. Have a tax liability greater than $7500. Have a BPA.

Nothing but crickets. Haven’t heard anything about my credit.

How long should I wait before contacting someone and who should I contact?

I filed through Turbo Tax.

Was supposed to be a max of 16 weeks. Current backlogs are 20 weeks though. I called since it’s been 18 for me and was told to keep waiting…

 

[Sully151]

You can check the status here.

https://www.irs.gov/filing/wheres-my-amended-return

Was supposed to be a max of 16 weeks. Current backlogs are 20 weeks though. I called since it’s been 18 for me and was told to keep waiting…

Thanks, I will look into it.

 

[nanobot]

I did mine this week with TT and everything went fine except for when I was ready to submit and it was complaining about expiration date on the form being earlier than the Date of Purchase. I was going to change the purchase date to 10/2021 but wanted to check with TT professional and as usual they didn't know the reason and asked me to put in my 10/21 order date. The return was accepted.

 

[vista1984]

Can I take delivery in 2024 or 2025 and still get the 7500 refund from my 2022 returns, assuming I had the binding agreement?

technically yes.
forgot the limitation of how far back you can file amendment. You should check that also.

 

[VSG]

@nanobot: Your screenshot appears you filled out Form 8910 (Alternative motor vehicle credit) instead of 8936? That's the wrong form ... 8910 is only for fuel cell vehicles.

 

[nanobot]

@nanobot: Your screenshot appears you filled out Form 8910 (Alternative motor vehicle credit) instead of 8936? That's the wrong form ... 8910 is only for fuel cell vehicles.

Good catch, now I have to look back at how I got a refund from my other car. On TT I just added the R1 on the same section and the TT professional who was helping me had 30yrs of experience.

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