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Batman

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You are absolutely right, I will go balls deep now lol!
So just to dumb it down for me cause I'm a little slow.

I signed the bidding contract last yr in July/Aug 2022, I don't rmr, it was whenever everyone else did.

I will get my R1S in 2024.

So I will be able to file(amend) for that $7500 through my past 2022 taxes?

If this is the case, I should save the original post link. Cause my accountant may think i'm on crack....
 
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Dark-Fx

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So just to dumb it down for me cause I'm a little slow.

I signed the bidding contract last yr in July/Aug 2022, I don't rmr, it was whenever everyone else did.

I will get my R1S in 2024.

So I will be able to file(amend) for that $7500 through my past 2022 taxes?

If this is the case, I should save the original post link. Cause my accountant may think i'm on crack....
Yes. Make sure you retain a copy of the agreement with wet ink.
 

Batman

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Yes. Make sure you retain a copy of the agreement with wet ink.
How do we retain with wet ink? It was all done over the cloud :).
 
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Dark-Fx

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After reading the new rules, I still qualify for the credit even if I wait until 2023. Thankfully (I guess) Rivian took all the options off my configuration, so MSRP is under $80,000. Pre March order holder. Married filing jointly limit is 300,000
 

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Did you not get this e-mail on 8/26 from Rivian?
1678199297381.png
Yes I did. Ok I see what you are saying. Just print it out and sign it when filing. Got it, great!

Thk you for breaking it down!!
 
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Whhrheb

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This is great news. I was in this situation - signed pre August 2022, R1T delivered early 2023, and will not qualify for rebates under the new rules (income, etc).

On the hunch that this clarification would come, I went ahead and filed my 2022 taxes using the BPA date, like the newest guidance says. I have indeed already received my 2022 $7500 IRS rebate, tax refund, etc. No drama.

I could still be audited, but this clarification cinches it.

Old pricing, full rebate, and a 2023 model is an awesome combination.
 

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I signed my BPA on 8/16 in the morning before the law was signed, and as shown it lists 8/16/2022 as the signature date for Rivian. Am I screwed? I sort of think I am...

Rivian R1T R1S IRS Transition rule guidance changed Screenshot 2023-03-07 at 10.33.32 AM
 

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This is great news. I was in this situation - signed pre August 2022, R1T delivered early 2023, and will not qualify for rebates under the new rules (income, etc).

On the hunch that this clarification would come, I went ahead and filed my 2022 taxes using the BPA date, like the newest guidance says. I have indeed already received my 2022 $7500 IRS rebate, tax refund, etc. No drama.

I could still be audited, but this clarification cinches it.

Old pricing, full rebate, and a 2023 model is an awesome combination.
That’s great but doesn’t mean it’s a done deal. The IRA typically accepts your returns as filed but may flag you an audit in the future—they have up to 3 years to audit the return.
 

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That’s great but doesn’t mean it’s a done deal. The IRA typically accepts your returns as filed but may flag you an audit in the future—they have up to 3 years to audit the return.
Agree. That’s why I said “I could still be audited”

but with the latest clarification I feel good about handling any audit
 

Autolycus

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I signed my BPA on 8/16 in the morning before the law was signed, and as shown it lists 8/16/2022 as the signature date for Rivian. Am I screwed? I sort of think I am...

Screenshot 2023-03-07 at 10.33.32 AM.png
Unfortunately, yes. For the transition rule to apply, the "written binding contract" must have been entered into before the day the law was enacted (i.e. 8/15/22 or earlier).
 

Hayden123982

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Am I missing something... there is still this statement below the purchase date section on IRS page

If you purchased a vehicle between August 16, 2022 and December 31, 2022 but don't take delivery of the vehicle until 2023, see Credit for New Clean Vehicles Purchased in 2023 and After.
 

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