Rivian Tax Credit Email

[Bar_Down]

I think Rivian could have done a much better (and earlier) job at communicating this. But, I can see that the IRS (to prevent fraud) may wish to match up credits claimed on a taxpayer's return with sales info from the manufacturer as to whom they sold the vehicle to. I am not sure I gave Rivian my SSN at the time of sale, which would explain the request now. If you already claimed the credit on your 2022 return, I don't think you should claim it again on your 2023 return. I did not claim it in 2022, so am happy to have this documentation to support my claim in 2023. Again, Rivian could have done a better job communicating this. No one likes the unexpected notice late in the week saying you must do this in a few days. I can imagine many were confused and many might have missed the email.

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[LivingTheDream]

I just got this from my guide.

While I can provide additional information, it's crucial to note that since this pertains to an IRS rebate, I highly recommend consulting with a tax professional for personalized advice and guidance.

If you have signed the binding order agreement:
• you can use this to amend your 2022 tax return
• eligible to apply for the full $7,500 credit
• DO NOT have to meet Inflation Reduction Act requirements like income and vehicle MSRP limits

If you fill out this 2023 seller’s report
• you can use this report for the 2023 tax year
• if you took delivery on or before April 17, 2023, you can apply for the full $7,500 credit
• if you took delivery after April 17, 2023, you can apply for a $3,750 credit
• DO have to meet Inflation Reduction Act requirements like income and vehicle MSRP limits

What happens if you have both a binding order agreement and a seller’s report?
You get the optionality to use whichever they’d prefer! You can choose to amend their 2022 tax return with the binding order agreement or apply for the 2023 tax year credit with the seller’s report.

Does filling out the seller’s report mean you can’t use their binding order agreement?
No. Both the binding order agreement and seller’s report are simply documents you will use when applying for tax credits. You will choose to use one or the other when filing your taxes, but that’s a separate action.

For more information, please read the guidance shared by the IRS. As a reminder, ultimate eligibility for tax credits is determined by the IRS. We recommend you consult with a tax professional for questions about your specific situation.

*tax return amendments cannot be done indefinitely. Please consult a tax professional for further detail.

 

[fjn7]

I also had a binding agreement dated just prior to the IRA kicking in. I took delivery of my R1S in November and now I’d like to file an amended 2022 return, but I can’t seem to find that email from Rivian with the binding contract. Has anyone been able to contact Rivian to get a copy from them? It would be a bummer to lose the tax credit, though I would have bought the car regardless, it’s awesome!

 

[1stEVR1S]

Ok everyone, I scrolled through the pages, and nobody seems to have posted this, but here's the official response from Rivian (got it through chat with a rep, but as you can see, this is a template response):
"
Because we aren't aware of your filing status, this email was sent out to all Rivian owners who might be wanting to file under the 2023 Inflation Act. If you have already or intend to use the Binding Order Agreement in conjunction with your EV purchase to amend your 2022 taxes, or you have already gone through the process of amending your 2022 taxes, you can disregard signing the OneScan document."

Hope this helps =)

 

[UnsungZero_OldTimeAdMan]

I also had a binding agreement dated just prior to the IRA kicking in. I took delivery of my R1S in November and now I’d like to file an amended 2022 return, but I can’t seem to find that email from Rivian with the binding contract. Has anyone been able to contact Rivian to get a copy from them? It would be a bummer to lose the tax credit, though I would have bought the car regardless, it’s awesome!

Per past posts, contact your guide. Rivian has your BPA on file. Otherwise, the confirmation and download email for your signed BPA would have been sent to you around 8/26/2023.

 

[Explorer3686]

I just got this from my guide.

While I can provide additional information, it's crucial to note that since this pertains to an IRS rebate, I highly recommend consulting with a tax professional for personalized advice and guidance.

If you have signed the binding order agreement:
• you can use this to amend your 2022 tax return
• eligible to apply for the full $7,500 credit
• DO NOT have to meet Inflation Reduction Act requirements like income and vehicle MSRP limits

If you fill out this 2023 seller’s report
• you can use this report for the 2023 tax year
• if you took delivery on or before April 17, 2023, you can apply for the full $7,500 credit
• if you took delivery after April 17, 2023, you can apply for a $3,750 credit
• DO have to meet Inflation Reduction Act requirements like income and vehicle MSRP limits

What happens if you have both a binding order agreement and a seller’s report?
You get the optionality to use whichever they’d prefer! You can choose to amend their 2022 tax return with the binding order agreement or apply for the 2023 tax year credit with the seller’s report.

Does filling out the seller’s report mean you can’t use their binding order agreement?
No. Both the binding order agreement and seller’s report are simply documents you will use when applying for tax credits. You will choose to use one or the other when filing your taxes, but that’s a separate action.

For more information, please read the guidance shared by the IRS. As a reminder, ultimate eligibility for tax credits is determined by the IRS. We recommend you consult with a tax professional for questions about your specific situation.

*tax return amendments cannot be done indefinitely. Please consult a tax professional for further detail.

Confirmed with someone at Rivan just now - the above is accurate!

 

[Explorer3686]

Just called Rivian to confirm, but I will be signing this even though I have a Binding Purchase Agreement, Took delivery in mid-2023, Amended 23 taxes, but have NOT received the $7500 from the IRS yet.

Signing is a bit if an insurance policy in the event the IRS rejects your 2022 amended return for any reason. (Obviously you can't double dip if you already received your $7500).

Hope this helps some folks out that are in a similar situation.

 

[UnsungZero_OldTimeAdMan]

Just called Rivian to confirm, but I will be signing this even though I have a Binding Purchase Agreement, Took delivery in mid-2023, Amended 23 taxes, but have NOT received the $7500 from the IRS yet.

Signing is a bit if an insurance policy in the event the IRS rejects your 2022 amended return for any reason. (Obviously you can't double dip if you already received your $7500).

Or it could cause confusion. "Here in your '22 amendment you state you put in service on 8/15/2022, yet you signed this document stating you took delivery and put in service on XX/XX/2023".

If you have the signed BPA with date before IRA became law, IRS' guidance on how to use it to amend/claim... Why? Why add additional complication?

 

[yungish]

Or it could cause confusion. "Here in your '22 amendment you state you put in service on 8/15/2022, yet you signed this document stating you took delivery and put in service on XX/XX/2023".

If you have the signed BPA with date before IRA became law, IRS' guidance on how to use it to amend/claim... Why? Why add additional complication?

I agree with you, the form stats a different date of service which would not match your tax amendment for 2022.

 

[LeftMySoulinNM]

I did get an earlier email today to look for this email in the next 48 hours. If you did not get it here is the text as it has deadlines to get the vin registered with the IRS.

——————- Email Text. —————

​ ​ Hi xxxxxx, To apply for your Federal New Clean Vehicle Tax Credit from the IRS, here are some important things to know:​

​ ​ •​ Rivian is required to report a qualifying clean vehicle sale to the IRS by January 15, 2024 in order for you to be eligible to receive the tax credit.​ •​ Within 48 hours of receiving this email, you will receive a separate email from Onespan with a link to your reporting form.​ •​ Please review the form, input your SSN, sign the attached acknowledgment and submit your reporting form to Rivian no later than 11:59PM PST on January 10th, 2024, so that we can send it to the IRS. If you don’t have an SSN, enter your ITIN. It’s important to note that the form should only be signed by the person whose name is listed on it.​ •​ You will still need to file Form 8936 with the IRS on your personal tax return.​

​ ​ Please Note: If you do not submit your reporting form to Rivian by January 10th, 2024, your vehicle won’t be eligible to receive the credit. It’s also important to know that submitting your reporting form does not automatically make you eligible to receive the Federal New Clean Vehicle Tax Credit. Please review the IRS requirements and consult a tax professional for qualification guidelines.​

I also got the heads up email in advance.

 

[tjp74]

Is the link in the email is user specific I suppose (meaning I can't use someone else's link and input my name and SSN)? I never received any email just because my original email used for purchase became invalid (old hotmail) and I had to chage it recently and I no longer getting any emails from Rivian... not that they frequently send you anything. I now have 2 days left and I must do this as I am claiming it against 2023 instead of 2022 amendment. Not enough tax liability left for 2022 (also claimed 1 full EV credit that year). I told my guide and he said he will look into it but I don't have whole lot of time left...
I really didn't like Rivian casually sending out emails on this very important matter.

 

[lov2krz]

Some folks have decided not to claim the binding agreement because they didn't have enough liability left for 2022. Rivian unfortunately has no way of knowing if any particular person has applied for the credit for 2022 under the transition rule, so they are still obligated to report eligible sales under the new rule.

Definitely can't double dip on credits.

Actually, Rivian does have the ability to tell you if you signed the binding agreement or not. I wrote my guide and about 30 minutes later he informed I did not sign it last year.

 

[Dark-Fx]

Actually, Rivian does have the ability to tell you if you signed the binding agreement or not. I wrote my guide and about 30 minutes later he informed I did not sign it last year.

Agreement, yes. Actually having claimed the tax credit with the IRS? No. Signing the agreement does not obligate you to actually take the credit under the transition rule, but if you did you cannot take it for the same VIN for 2023.

 

[zefram47]

New email from Rivian...

We want to remind you to submit your seller reporting form if you wish to apply for the Federal New Clean Vehicle Tax Credit in tax year 2023. Rivian is required to report a qualifying clean vehicle sale to the IRS by January 15, 2024 in order for you to be eligible to receive the 2023 tax credit. Once you complete the form, we’ll report the sale and then you can download a copy for your future tax credit application. If you have a signed binding order agreement and intend to – or have already – amended your 2022 tax return, then no further action is required. For those who intend to apply for the tax credit in tax year 2023:​

•​ You should have received a separate email from Onespan with a link to your seller reporting form. Please check your spam folder if you don’t see it in your inbox.​ •​ Please review the form, input your SSN, sign the attached acknowledgment and submit your reporting form to Rivian no later than 11:59PM PST on January 10th, 2024, so that we can send it to the IRS. If you don’t have an SSN, enter your ITIN. It’s important to note that the form should only be signed by the person whose name is listed on it.​ •​ Submitting this seller report form is not your application for the tax credit. You will still need to file Form 8936 with the IRS on your personal tax return.​

Based on questions we’ve received from the community, we’d also like to clarify that:​

•​ If you have a signed binding order agreement, you can use that binding order agreement to amend your 2022 tax return to apply for up to a $7,500 tax credit.​ •​ If you took delivery on or before April 17, 2023, the seller report can be used for the 2023 tax year to apply for up to a $7,500 tax credit.​ •​ If you took delivery after April 17, 2023, the seller report can be used for the 2023 tax year to apply for up to a $3,750 credit. This adjusted credit amount is due to battery component requirements that went into effect at that time.​ •​ If you have both a binding order agreement and a seller report, you can choose to either amend your 2022 tax return with the binding order agreement or apply for the 2023 tax year credit with your seller report.​ •​ Filling out the seller report does NOT void your binding order agreement. Rivian does not apply for tax credits on your behalf – we simply provide the documents you’ll need when applying yourself.​ •​ If you’ve registered your vehicle to your business, you may be able to claim a tax credit via either the new clean vehicle credit or the commercial clean vehicle credit (depending on business type and vehicle use). If you’d like to claim the tax credit via the new clean vehicle credit, please fill out the form.​

 

[bmillner]

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?

Hi, this is my first time on the forum. Before the Inflation Reduction Act went into effect in 2022 I went through the process of signing a contract with Rivian and changing my deposit to non-refundable. I received my R1S in 2023. I am amending my 2022 taxes to claim the $7,500 tax benefit. Is that the best option? It seems like it from everything I'm reading. Thanks!

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