Vehicle rebate

[Geo_93]

So, I've looked around the forum but couldn't find anything pertaining to rebates for Lucid owners who are financing the vehicle. Like many others, I received an email from Lucid regarding signing the contract, which I did, prior to President Biden signing the inflation reduction Act. My question is, did all of those who committed to signing the contract receive the full rebate ($7,500) when doing their taxes? I just handed all of my information in and I was told that he would have to look into it by checking the VIN number. Should I be worried?

 

[suchluke]

So, I've looked around the forum but couldn't find anything pertaining to rebates for Lucid owners who are financing the vehicle. Like many others, I received an email from Lucid regarding signing the contract, which I did, prior to President Biden signing the inflation reduction Act. My question is, did all of those who committed to signing the contract receive the full rebate ($7,500) when doing their taxes? I just handed all of my information in and I was told that he would have to look into it by checking the VIN number. Should I be worried?

I am curious what information did you hand over and to whom?

I recently received a letter from IRS about 4 months after filing an addendum to tax year 2022. The IRS denied the claim quote "We cannot process your claim for the Clean Vehicle Credit, Form 8936 because you VIN number provided is reflecting to be invalid. If you have more information you didn't send with this claim, you can file another claim that includes all your information. Just like you I signed the contract on Aug 11, 2022 before the IRA took effect on Aug 16th. I put date in service as Aug 15th, 2022 when filing the addendum. I know the VIN number I entered is correct. I triple checked and it is matching my car. I did file the addendum through Turbo Tax and under comments I said I am claiming Clean Vehicle Credit based on transition rule. Now I am puzzled what to do. I am thinking to print out paper copy of 2022 addendum and include all supporting documents order agreement, purchase agreement (showing VIN number) etc. I am losing faith as this will go through. Thoughts anyone?

 

[Amster]

I am curious what information did you hand over and to whom?

I recently received a letter from IRS about 4 months after filing an addendum to tax year 2022. The IRS denied the claim quote "We cannot process your claim for the Clean Vehicle Credit, Form 8936 because you VIN number provided is reflecting to be invalid. If you have more information you didn't send with this claim, you can file another claim that includes all your information. Just like you I signed the contract on Aug 11, 2022 before the IRA took effect on Aug 16th. I put date in service as Aug 15th, 2022 when filing the addendum. I know the VIN number I entered is correct. I triple checked and it is matching my car. I did file the addendum through Turbo Tax and under comments I said I am claiming Clean Vehicle Credit based on transition rule. Now I am puzzled what to do. I am thinking to print out paper copy of 2022 addendum and include all supporting documents order agreement, purchase agreement (showing VIN number) etc. I am losing faith as this will go through. Thoughts anyone?

I did everything that you did with TurboTax, not with an addendum but with the original filing last April. I haven't heard from the IRS yet. I sure hope I don't!

 

[suchluke]

I did everything that you did with TurboTax, not with an addendum but with the original filing last April. I haven't heard from the IRS yet. I sure hope I don't!

I think with original tax returns it is submitted and processed automatically by the system where addendum is looked at manually. I waited 4 months for the response. I guess for addendum you have to prove your case and not use TurboTax since there is no place to upload any additional documents. I am still thinking what is the proper way I should proceed.

 

[Uncle_Scary]

7500 EV tax credit update with new bill | Lucid Owners - Lucid Motors Forum

 

[ZenSolo]

So, I've looked around the forum but couldn't find anything pertaining to rebates for Lucid owners who are financing the vehicle. Like many others, I received an email from Lucid regarding signing the contract, which I did, prior to President Biden signing the inflation reduction Act. My question is, did all of those who committed to signing the contract receive the full rebate ($7,500) when doing their taxes? I just handed all of my information in and I was told that he would have to look into it by checking the VIN number. Should I be worried?

You and/or your vehicle may not qualify: https://www.irs.gov/credits-deductions/credits-for-new-clean-vehicles-purchased-in-2023-or-after

From the article:
In addition, your modified adjusted gross income (AGI) may not exceed:

• $300,000 for married couples filing jointly
• $225,000 for heads of households
• $150,000 for all other filers

In addition, the vehicle's manufacturer suggested retail price (MSRP) can't exceed:

• $80,000 for vans, sport utility vehicles and pickup trucks
• $55,000 for other vehicles

 

[Uncle_Scary]

EV Tax credit question | Lucid Owners - Lucid Motors Forum