Incamys was first described by Hoffstetter and Lavocat, based on remains found in the Salla Formation of Bolivia, with the proposed type species being Incamys bolivianus, referring to the country it was found in. Later, in 1976, a new species was named, I. pretiosus,[4] which was subsequently found to be a junior synonym of the type species. In 2015, Vucetich and colleagues described a new species of Incamys, I. menniorum, from the Sarmiento Formation of Chubut Province, Argentina.[5]
The following cladogram of the Caviomorpha is based on Busker et al. 2020, showing the position of Incamys.[6]
Research on 30 million year old Incamys bolivianus virtual endocasts show they had expanded temporal lobes in the cerebrum and large caudal colliculi in the midbrain, arguing they had enhanced auditory acuity and vocalization. This is consistent with them living in social groups and using calls to communicate with each other, similar to modern chinchillas.[3]