Posts Tagged ‘IRS tax breaks’

IRS Audit News: Expect Increased Tax Audits Due to Taxpayer Abuse of First Time Homebuyer Credit

Friday, October 23rd, 2009

The IRS is set to audit many more returns in 2009 and 2010 due to abuses by taxpayers of the first time home buyer tax credit. The first-time homebuyer tax credit is a tax break of up to $8,000 for qualified home sales before December 1, 2009.
Not everyone qualifies for this credit and I’ve also blogged about common misconceptions about the first time homebuyer tax credit.  Knowing the rules and
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Posted in Tax news and tips | 2 Comments »

Tax Help for Cash For Clunkers Participants – How Dealerships Can Save Money by Benefiting from Additional IRS Tax Breaks

Tuesday, September 15th, 2009

Auto dealers across the nation have been benefiting from the “Cash for Clunkers” stimulus program–selling more fuel efficiency cars in exchange for fuel-guzzling “clunkers.”
Not only are average consumers loving the $4,500 non-taxable cash vouchers from trading in their old cars for new ones, auto dealers can also benefit above and beyond the mere increase in sales. In order to auto dealers to save money and avoid serious
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Posted in Back Taxes, Expert Help From Tax Attorney, Tax news and tips | No Comments »