Doh! Dealers learn Cash for Clunkers rebates count as taxable income
Filed under: Car Buying , Government/Legal As you’re aware by now, yesterday’s big news was H.R. 3435 , the emergency legislation passed by the House of Representatives authorizing an additional $2B for the CARS scrappage scheme. As had been widely reported on Thursday, the clunkers program appeared to have run out of money a lot sooner than anyone had expected, sending legislators in favor of it into a panic. After a period of impassioned floor debate (the…
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Topics: rebates, cars, emergency, taxes