CARS 1099 or Tax Question

At the end of the year who will get the 1099 for the CARS rebate?

There is no such thing as a free lunch. The fine print on the CARS
web page does not mention who had to report the rebate as taxable
income.

I heard one dealer, who I think was guessing, that it would come
back to the dealership and it was not clear if they in turn would
sent it on the person that received the benefit.

I assume it will be taxable income for states as well?

Something tells me the 2009 1040 will have a box for rebates
received.

This is one the point the folks in DC do not want to talk about.

"aRKay" > wrote in% message
...
> At the end of the year who will get the 1099 for the CARS rebate?
>
> There is no such thing as a free lunch. The fine print on the CARS
> web page does not mention who had to report the rebate as taxable
> income.
>
> I heard one dealer, who I think was guessing, that it would come
> back to the dealership and it was not clear if they in turn would
> sent it on the person that received the benefit.
>
> I assume it will be taxable income for states as well?
>
> Something tells me the 2009 1040 will have a box for rebates
> received.
>
> This is one the point the folks in DC do not want to talk about.

I'll bet the recipient of the benefit. And, there will be state income tax
as well. Figure on 20% minimum.

"tww1491" > wrote in message
...
>
> "aRKay" > wrote in% message
> ...
>> At the end of the year who will get the 1099 for the CARS rebate?
>>
>> There is no such thing as a free lunch. The fine print on the CARS
>> web page does not mention who had to report the rebate as taxable
>> income.
>>
>> I heard one dealer, who I think was guessing, that it would come
>> back to the dealership and it was not clear if they in turn would
>> sent it on the person that received the benefit.
>>
>> I assume it will be taxable income for states as well?
>>
>> Something tells me the 2009 1040 will have a box for rebates
>> received.
>>
>> This is one the point the folks in DC do not want to talk about.
>
> I'll bet the recipient of the benefit. And, there will be state
> income tax as well. Figure on 20% minimum.


I'll bet there will be more than just that box added this year. Then
watch what happens to consumable goods prices when the full impact of
the tax burden is realized. Easy to sneak past the madding throng as
the flock (like in sheep) tries to fight the heath care boondoggle.

On Aug 8, 3:38*pm, "tww1491" > wrote:
> "aRKay" > wrote in% ...
>
>
>
>
>
> > At the end of the year who will get the 1099 for the CARS rebate?
>
> > There is no such thing as a free lunch. *The fine print on the CARS
> > web page does not mention who had to report the rebate as taxable
> > income.
>
> > I heard one dealer, who I think was guessing, that it would come
> > back to the dealership and it was not clear if they in turn would
> > sent it on the person that received the benefit.
>
> > I assume it will be taxable income for states as well?
>
> > Something tells me the 2009 1040 will have a box for rebates
> > received.
>
> > This is one the point the folks in DC do not want to talk about.
>
> I'll bet the recipient of the benefit. And, there will be state income tax
> as well. *Figure on 20% minimum.- Hide quoted text -
>
> - Show quoted text -

I think that is good - $4500 was too much - they'll have to give some
back