09 New Car Tax Credit question

NoSoupForU · 03-26-2010, 02:29 PM

I bought my car in January 09 but the tax credit says you have to have bought your car after 2/16/09. Is there a way that I can "stretch the truth" about my purchase date? How likely is an audit if I just say I bought it after 2/16?

Feyd · 03-26-2010, 02:34 PM

Don't know how much you are planning on getting back for the tax credit, but why not roll the dice. *shrug*

Just know that if the audit does happen will last about 15 seconds and then you'll have to pay the difference + penalties. If you think its worth it, go for it, I'm sure they have bigger fish to fry. But if you do get caught (and I think the statute is 7 years for auditing) just know that you might have to pay 7 years worth of late fees on top of the credit.)

Also, if you are "stretching the truth" on other stuff, it isn't going to bode well for you either in an audit situation. The IRS might just see the car as the tip of the iceberg and really drop the hammer on you.

NoSoupForU · 03-26-2010, 02:50 PM

I don't stretch the truth on anything else. My deductions are all pretty standard. I'm just pissed that I missed the cutoff date by a few weeks.

03-26-2010, 02:29 PM	#1
NoSoupForU First Lieutenant 55 Rep 361 Posts Drives: 09 LCI 335i Join Date: Dec 2008 Location: OC iTrader: (3)	09 New Car Tax Credit question I bought my car in January 09 but the tax credit says you have to have bought your car after 2/16/09. Is there a way that I can "stretch the truth" about my purchase date? How likely is an audit if I just say I bought it after 2/16?
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03-26-2010, 02:34 PM	#2
Feyd Major 348 Rep 1,288 Posts Drives: a DEEZZULL Join Date: Aug 2007 Location: Chicago, IL iTrader: (2)	Don't know how much you are planning on getting back for the tax credit, but why not roll the dice. shrug Just know that if the audit does happen will last about 15 seconds and then you'll have to pay the difference + penalties. If you think its worth it, go for it, I'm sure they have bigger fish to fry. But if you do get caught (and I think the statute is 7 years for auditing) just know that you might have to pay 7 years worth of late fees on top of the credit.) Also, if you are "stretching the truth" on other stuff, it isn't going to bode well for you either in an audit situation. The IRS might just see the car as the tip of the iceberg and really drop the hammer on you.
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03-26-2010, 02:50 PM	#3
NoSoupForU First Lieutenant 55 Rep 361 Posts Drives: 09 LCI 335i Join Date: Dec 2008 Location: OC iTrader: (3)	I don't stretch the truth on anything else. My deductions are all pretty standard. I'm just pissed that I missed the cutoff date by a few weeks.
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