R1T $7500 Tax Return with binding purchase agreement/2022 Amended Tax Return

[Fmc]

I amended in October and still waiting..oh well..

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[UnsungZero_OldTimeAdMan]

I submitted my amended return via mail in November 2023 and it was finally marked as adjusted on 3/8/2024. I received the check 3/12/2024 ($7500+$505 in interest). It has not been marked as completed in the online tracking system.

My adjusted gross income was less than $150K in tax year 2022, so that fortunately didn't trigger any of the AGI issues that others seem to be having.

Meanwhile some people reporting theirs have been denied. Some with no explanation. Some received explanation that suggest the person responsible reviewed in context of post-IRA restrictions. Luck of the draw I guess.

 

[kcko11]

Hi Al,

Below is an example appeal I sent to the IRS with the attached supporting documentation. I also included my Rivian Contract, the rejection notice sent by the IRS, and a copy of my amended 2022 return.

I am NOT a tax professional but drafted this, had my tax professional review and give the green light and so I sent it out. I DO NOT know if this will be effective but per the references, it is very clear this $7,500 credit is legitimate and should be honored without restrictions. Rivian has specific guidance your tax professional can follow posted on their website as well.

Lastly, the 4th Enclosure I used, the IRS Fact Sheet FS-2023-22 October 2023, was too large to attach as a file so below is the link: https://www.irs.gov/pub/taxpros/fs-2023-22.pdf

Hope this helps.

Thanks so much!! I’m going to send my packet of papers and hope they change their decision. They told me my MAGI was too high but obviously whoever reviewed my amendment just used the up to date rules and didn’t read their own fine print.

 

[Chuppi]

I need some advice on getting started on amendment.
I have the binding contract from 2022. I picked up R1S on March 6th 2024. I got the form 15400 from OneSpan on behalf of Rivian. That document shows "11. Maximum credit allowable to the taxpayer with respect to the vehicle" as $3750. It does not say anything about the binding contract. Should I sign this and then file the amendment for 2022?
Please let me know if I missing anything. I filed my taxes for 2022 using Turbotax.
Thanks for your time.

 

[UnsungZero_OldTimeAdMan]

I need some advice on getting started on amendment.
I have the binding contract from 2022. I picked up R1S on March 6th 2024. I got the form 15400 from OneSpan on behalf of Rivian. That document shows "11. Maximum credit allowable to the taxpayer with respect to the vehicle" as $3750. It does not say anything about the binding contract. Should I sign this and then file the amendment for 2022?
Please let me know if I missing anything. I filed my taxes for 2022 using Turbotax.
Thanks for your time.

That whole OneSpan and 15400 ordeal was for filing under IRA (which is what line item 11 is about). It was to give consent to Rivian, so they can report to Treasury whom they sold to in ‘23. You are attempting to file/amend under pre-IRA terms, using the binding agreement as exemption and a way to backdate your purchase. If you signed Rivian’s request sent earlier this year, you should not have. Subsequent emails sent, right up to deadline, explain those who have or plan on using binding agreement need not participate. You can still try your luck and amend ‘22 per IRS guidance, conveyed through Rivian. Link to that is probably in this thread already. Or google “Rivian.com binding agreement amendment”. You will probably need to use the previous version of form 8936 and not the ‘24 version, which is updated in context of IRA. Consult a tax pro.

 

[Chuppi]

Thank you. I got only one request to sign the "Clean Vehicle Seller Report" after I purchased R1S. I didn't sign it and I am glad I asked.
I didn't receive or sign any other request from Rivian.
So looks like I can continue with amending my 2022 returns. Can you please confirm my entries in turbotax below
Year of Your Plug-in Electric Drive Motor Vehicle - 2022
Date Acquired - 8/10/2022
Dae Plug-In Placed in Service - 8/10/2022
Amount of Battery Capacity Kilowatt hours - 130
Gross Vehicle Weight - 8500

When I proceed further, Turbotax confirms the following
Qualified Plug-in Electric Drive Motor Vehicle Credit - $7500


Appreciate your time.

 

[Glongo]

I suspected the rejection letter may have been an automatically generated letter. I also share your fears that the person on the appeals side may not have the experience or concern to remedy this. Suppose only time will tell.

This is probably the case. the person processing made an incorrect interpretation.

 

[UnsungZero_OldTimeAdMan]

Thank you. I got only one request to sign the "Clean Vehicle Seller Report" after I purchased R1S. I didn't sign it and I am glad I asked.
I didn't receive or sign any other request from Rivian.
So looks like I can continue with amending my 2022 returns. Can you please confirm my entries in turbotax below
Year of Your Plug-in Electric Drive Motor Vehicle - 2022
Date Acquired - 8/10/2022
Dae Plug-In Placed in Service - 8/10/2022
Amount of Battery Capacity Kilowatt hours - 130
Gross Vehicle Weight - 8500

When I proceed further, Turbotax confirms the following
Qualified Plug-in Electric Drive Motor Vehicle Credit - $7500


Appreciate your time.

IRS guidance states:

From the Instructions: “Taxpayers who took delivery in 2023 or after must use August 15, 2022 as the date placed in service when filing out Form 8936.

https://rivian.com/support/article/...EV-tax-credit-using-a-binding-order-agreement

If large pack, isn't battery capacity 135?

 

[Chuppi]

If large pack, isn't battery capacity 135?

Thanks. I will go with 8/15/2022 for date acquired and place in service. Yes capacity is 135KWh and not 130KWh.

 

[kennychen1982]

My accountant amended my 2022 tax return on 11/1/2023 to reflect my binding purchase agreement signed on 15 August 2022 in order to claim the $7500 tax credit.

On 2/22/2024, I received a denial letter from the IRS stating that the $7500 tax credit was denied because the vehicle was placed in service prior to 1 Jan 2023 and because my adjusted income exceeded limits.

The IRS website clearly states instructions on how to claim the credit with a binding purchase agreement dated 8/15/2022 but with delivery after 8/16/2023 and there are no restrictions. We followed the guidance verbatim and it was still denied. Has anyone else been denied as well? Any suggestions?

What form did your accountant file to claim the tax credit? I heard we need to submit form 8936 and form 1040X. Is that correct?

 

[UnsungZero_OldTimeAdMan]

What form did your accountant file to claim the tax credit? I heard we need to submit form 8936 and form 1040X. Is that correct?

See second post above yours

 

[EVVSGAS]

My accountant amended my 2022 tax return on 11/1/2023 to reflect my binding purchase agreement signed on 15 August 2022 in order to claim the $7500 tax credit.

On 2/22/2024, I received a denial letter from the IRS stating that the $7500 tax credit was denied because the vehicle was placed in service prior to 1 Jan 2023 and because my adjusted income exceeded limits.

The IRS website clearly states instructions on how to claim the credit with a binding purchase agreement dated 8/15/2022 but with delivery after 8/16/2023 and there are no restrictions. We followed the guidance verbatim and it was still denied. Has anyone else been denied as well? Any suggestions?

Did you resubmit? Can you only do this after taking delivery?

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