The Federal Tax Credits Blog

Posts Tagged ‘irs tax credits for hybrid cars’

Question: Yet Another IRS refund question?

I electronically filed my return on February 4 and was given a direct deposit date of February 15. I also filed two other returns for my son and a friend on the same date. They both have received their refunds as of today, but I haven’t received mine. When I checked the “where’s my refund” website, it states that my refund is being processed and I should receive it on or before February 26. I did have additional forms that my son and friend didn’t have i.e. the 2007 hybrid car tax credit and the educational credit. Could that by why mine did not get deposited and the other two I filed on the same day did get deposited when scheduled? I have used e-file and direct deposit for about 7 years now and this is the first year that my refund did not get deposited on the scheduled date.
Sorry, correction, I did not file the education credit, it was the education deduction of $4,000. This form was not one of the forms supposedly affected by the AMT.

Answer: All returns that included the education credit were delayed by the IRS until February 11 due to the delay of Congress in passing the new AMT income levels. Even if you were not subject to the AMT, your return processing was delayed.

Tax Tips & Information : About Tax Deductions for a Hybrid Car Purchase

Question: New Car tex credit?

can i get a tax credit for a new car, like just a regular car not a hybrid, if yes, then houw do i get that? what is it called?

Answer: It depends on how the car is used. Years ago the fed had a ITC of 1500 on any american car but thats long gone. Now some industry’s qualify for tax credits on capitol purchases but the irs is really the one you should be asking

Remarks by the President on the Economy at Carnegie Mellon University

Carnegie Mellon University Pittsburgh, Pennsylvania 1:22 P.M. EDT THE PRESIDENT:  Thank you.  Thank you very much.  (Applause.)  Thank you, everybody.  Please have a seat.  Thank you very much.  Let me begin by thanking Dr. Jared Cohon, and the entire Carnegie Mellon community, for welcoming me once again, and for the terrific work that he and the administration, faculty and staff do here each …

UN Listens To Obama On Climate Change

Question: When holding short sale stocks that pay dividends, how are dividends-charged reflected on IRS tax return?

These short sale dividends that are charged to your account during the year, somehow should be reflected as a “benefit” for federal tax purposes. If I’m being taxed on dividends received / credited regarding long stock holdings, I wouild think the opposite would hold true. I just don’t where to reflect on the proper tax form. Also, how would they be handled for New Jersey tax purposes?

Answer: Get Real: Use the real numbers when doing financial transactions and the confusion will end. If a stock is not out right purchased, the price maybe adjusted for dividends. In this case the profit is adjusted based on the contract closing price. The actual figures are the ones to use for taxes.

UBS Informant Has More Info for the Feds

Former UBS banker Bradley Birkenfeld is ready to give prosecutors and the IRS more information about the Swiss bank s secretive operations in an effort to further postpone his prison sentence.

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