[RIVBOBBY]

Hi there,
I got the following email from Rivian regarding Inflation Reduction Act (IRA) impact ..

We've received quite a few inquiries from the Rivian community asking how the Inflation Reduction Act (IRA) may impact your eligibility to obtain the $7,500 IRC 30D federal EV tax credit when you purchase your R1T or R1S. Here's what we know and how we plan to support our customers’ efforts to maintain eligibility for the federal EV tax credit. The Inflation Reduction Act may soon become law. Once signed into law, the Inflation Reduction Act will add new restrictions to buyers’ eligibility to receive the $7,500 IRC 30D federal EV tax credit. Under these new restrictions, an electric pick-up truck or SUV must be priced below $80,000 and the buyer must fall below certain income thresholds to qualify. Fortunately, buyers who have a “written binding contract” to purchase a qualified EV before the Inflation Reduction Act becomes law will be able to apply under the current IRC 30D tax credit requirements. What Rivian preorder and reservation holders can do. If you’d like to sign a binding contract for your R1T or R1S purchase, click “Review and Accept” below. Signing the contract will make $100 of your existing $1,000 deposit non-refundable and help you to maintain eligibility to apply for the $7,500 tax credit under its current requirements. According to the Senate bill, any customer with a binding contract will not be subject to the new vehicle price and income restrictions when applying for the federal tax credit, regardless of the vehicle delivery date. We do want to caution that the final bill terms are not certain and have not yet been passed by the House of Representatives. Further, we cannot guarantee that the IRS will approve tax credit eligibility as we interpret the terms of the Inflation Reduction Act. However, we are offering our customers this opportunity as a way to do what we can to increase the probability of receiving the $7,500 IRC 30D tax credit. When will the Inflation Reduction Act be enacted? While we can’t predict exact timing nor guarantee it becomes law, this bill has already passed the Senate and will head to the House for a vote on Friday, August 12. All indications are that this legislation should pass the House and then be signed into law. Once signed, the Inflation Reduction Act is considered enacted. Rivian customers interested in signing a binding contract may do so by clicking the button below and agreeing to the terms. Once the Inflation Reduction Act becomes law, customers will lose this chance and be subject to the new restrictions on vehicle price limits and personal income caps. What happens if I decide to do nothing? Taking this step is your choice. If you decide not to sign the binding order agreement, your Rivian deposit will remain under our existing fully refundable terms.​

Review and Accept

If you have questions, we’re here to support. Tony Caravano Head of Customer Engagement​

 

[MilesK]

Another person got the same email from Rivian. Seems like a good idea to spend the $100.

https://twitter.com/i/web/status/1557558513949458432

 

[sciencegeek]

Binding purchase contract before new law is signed

Anyone else got that email? When I entered my name and email, indicating agreement, I got no acknowledgment and instead just the same terms and conditions page. How did it go for others?

www.rivianownersforum.com

 

[R1T4JAS]

Hi there,
I got the following email from Rivian regarding Inflation Reduction Act (IRA) impact ..

​ ​ ​ We've received quite a few inquiries from the Rivian community asking how the Inflation Reduction Act (IRA) may impact your eligibility to obtain the $7,500 IRC 30D federal EV tax credit when you purchase your R1T or R1S. Here's what we know and how we plan to support our customers’ efforts to maintain eligibility for the federal EV tax credit. The Inflation Reduction Act may soon become law. Once signed into law, the Inflation Reduction Act will add new restrictions to buyers’ eligibility to receive the $7,500 IRC 30D federal EV tax credit. Under these new restrictions, an electric pick-up truck or SUV must be priced below $80,000 and the buyer must fall below certain income thresholds to qualify. Fortunately, buyers who have a “written binding contract” to purchase a qualified EV before the Inflation Reduction Act becomes law will be able to apply under the current IRC 30D tax credit requirements. What Rivian preorder and reservation holders can do. If you’d like to sign a binding contract for your R1T or R1S purchase, click “Review and Accept” below. Signing the contract will make $100 of your existing $1,000 deposit non-refundable and help you to maintain eligibility to apply for the $7,500 tax credit under its current requirements. According to the Senate bill, any customer with a binding contract will not be subject to the new vehicle price and income restrictions when applying for the federal tax credit, regardless of the vehicle delivery date. We do want to caution that the final bill terms are not certain and have not yet been passed by the House of Representatives. Further, we cannot guarantee that the IRS will approve tax credit eligibility as we interpret the terms of the Inflation Reduction Act. However, we are offering our customers this opportunity as a way to do what we can to increase the probability of receiving the $7,500 IRC 30D tax credit. When will the Inflation Reduction Act be enacted? While we can’t predict exact timing nor guarantee it becomes law, this bill has already passed the Senate and will head to the House for a vote on Friday, August 12. All indications are that this legislation should pass the House and then be signed into law. Once signed, the Inflation Reduction Act is considered enacted. Rivian customers interested in signing a binding contract may do so by clicking the button below and agreeing to the terms. Once the Inflation Reduction Act becomes law, customers will lose this chance and be subject to the new restrictions on vehicle price limits and personal income caps. What happens if I decide to do nothing? Taking this step is your choice. If you decide not to sign the binding order agreement, your Rivian deposit will remain under our existing fully refundable terms.​

​ Review and Accept

​ ​ ​ If you have questions, we’re here to support. Tony Caravano Head of Customer Engagement​

Thank you for leaning in on this for us anxious customers in waiting!

 

[SoundMixer]

Binding purchase contract before new law is signed

Anyone else got that email? When I entered my name and email, indicating agreement, I got no acknowledgment and instead just the same terms and conditions page. How did it go for others?

www.rivianownersforum.com

For me I got a "Thank you! You have successfully agreed to the terms." page ... along with a link to a PDF download of the agreement. Not an email, just a confirmation page with the PDF link.

I have read that some other's have not received this confirmation page. There has been some speculation that it might be a browser-specific issue, or having to do with popup blocking. I don't know because I didn't encounter any problem. I used Chrome (Version 104.0.5112.81) to fill out mine.

 

[Evian]

I have read that some other's have not received this confirmation page.

Anyone, old R1T, R1S orders, the future orders; just anyone on the street can download the pdf file, write your name and sign whenever you need to. Even Rivian is not sure if this letter is going to be accepted by the IRS.

Anyway, in case you did not receive an email or the pdf file, here you go - The PDF File

 

[SoundMixer]

Anyone, old R1T, R1S orders, the future orders; just anyone on the street can download the pdf file, write your name and sign whenever you need to. Even Rivian is not sure if this letter is going to be accepted by the IRS.

Anyway, in case you did not receive an email or the pdf file, here you go - The PDF File

I want to caution that it may not be sufficient to only download the document via the link you supplied. Maybe it would be, but the official process from Rivian first collects your name and email address prior to making the PDF available to you. I don't know what they do with that information, if anything at all. But ... in the event that some kind of validation/correlation date/timestamping happens back to Rivian's own records of the documents electronically agreed to, the very safest bet would be to find a browser/environment that behaves correctly in accepting your information and presenting you with the confirmation page and document link.

If you forgot to save the document or lost it, but did successfully complete the page, then the above link is probably fine for you. I am only worried about the possibility that someone stumbles onto this thread and might mistakenly think to themselves "oh, the document is right here ... I don't need to fill out the form after all".

I don't think we know whether or not that is the case. So, for paranoia's sake, my recommendation would be try to find a browser that works and complete it the intended way.

 

[Evian]

I want to caution that it may not be sufficient to only download the document via the link you supplied.

Agree. There will be IRS audits cross checking VIN, Owner's Name, Date etc with the manufacturer, Rivian is collecting the right data.

Rivian prepared something in a hurry, they are sharing very generic template as a binding contract, in the absence of specific IRS guidelines. I just hope IRS accepts it.