Posts tagged as:

C4C

Fix the Tax Code Friday: Extending Tax Programs

18 September 2009

It’s Fix the Tax Code Friday!
Buoyed by the popularity of the Cash for Clunkers program – and the perceived success of the First Time Homebuyer’s Credit – Congress is considering whether to extend both programs in 2010.
Various bills suggest extending the homebuyer’s credit from six months to a year – and even increasing the amount [...]

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Ask the taxgirl: Tax Consequences of CARS

29 August 2009

Taxpayer asks:
I heard on the radio that we will have to pay taxes on the money from the Cars for Clunkers. If so, I am really mad because nobody said we had to pay taxes on it. Is this true?
Taxgirl says:
A number of web sites and um, what’s the word, liars opportunists political [...]

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Ask the taxgirl: CARS and Back Taxes

11 August 2009

Taxpayer asks:
Hi,
I heard a car dealer on a radio talk show say that if the consumer owes any federal or state taxes when they buy a C4C car, the dealer is on the hook to get reimbursed by the consumer or eat the difference, because the federal payment will take out the arrearrage before sending [...]

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