{"id":121,"date":"2009-03-31T08:23:32","date_gmt":"2009-03-31T13:23:32","guid":{"rendered":"http:\/\/www.nw-cpa.com\/?p=121"},"modified":"2009-03-31T08:23:32","modified_gmt":"2009-03-31T13:23:32","slug":"irs-reminds-taxpayers-about-special-tax-break-available-for-new-car-purchases-this-year-ir-2009-30","status":"publish","type":"post","link":"https:\/\/www.nw-cpa.com\/?p=121","title":{"rendered":"IRS reminds taxpayers about special tax break available for new car purchases this year [IR 2009-30]:"},"content":{"rendered":"<p><span style=\"font-family: 'arial';\">The Internal Revenue Service has announced that  taxpayers who buy a new passenger vehicle this year may be entitled to deduct  state and local sales and excise taxes paid on the purchase on their 2009 tax  returns next year. \u201cFor those thinking about buying a new car this year, this  deduction may give them a little more drive to make their purchase this year,\u201d  said IRS Commissioner Doug Shulman. \u201cThis deduction enables taxpayers to buy now  and get cash back later on their tax returns.\u201d The deduction is limited to the  state and local sales and excise taxes paid on up to $49,500 of the purchase  price of a qualified new car, light truck, motor home or motorcycle. The amount  of the deduction is phased out for taxpayers whose modified adjusted gross  income is between $125,000 and $135,000 for individual filers and between  $250,000 and $260,000 for joint filers. IRS also alerted taxpayers that the  vehicle must be purchased after Feb. 16, 2009, and before Jan. 1, 2010, to  qualify for the deduction. The special deduction is available regardless of  whether a taxpayer itemizes deductions on their return. The IRS reminded  taxpayers the deduction may not be taken on 2008 tax returns.\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Internal Revenue Service has announced that taxpayers who buy a new passenger vehicle this year may be entitled to deduct state and local sales and excise taxes paid on the purchase on their 2009 tax returns next year. \u201cFor those thinking about buying a new car this year, this deduction may give them a &hellip; <a href=\"https:\/\/www.nw-cpa.com\/?p=121\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">IRS reminds taxpayers about special tax break available for new car purchases this year [IR 2009-30]:<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[399],"class_list":["post-121","post","type-post","status-publish","format-standard","hentry","category-federal-income-tax","tag-federal-income-tax"],"_links":{"self":[{"href":"https:\/\/www.nw-cpa.com\/index.php?rest_route=\/wp\/v2\/posts\/121","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.nw-cpa.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nw-cpa.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nw-cpa.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nw-cpa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=121"}],"version-history":[{"count":3,"href":"https:\/\/www.nw-cpa.com\/index.php?rest_route=\/wp\/v2\/posts\/121\/revisions"}],"predecessor-version":[{"id":124,"href":"https:\/\/www.nw-cpa.com\/index.php?rest_route=\/wp\/v2\/posts\/121\/revisions\/124"}],"wp:attachment":[{"href":"https:\/\/www.nw-cpa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=121"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nw-cpa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=121"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nw-cpa.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=121"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}