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The tax credit will only be given to the original purchaser of the vehicle, and not to a secondhand owner. If the vehicle is being lease, the tax credit can be claimed by the leasing company alone. The vehicle must be used mostly in the United States. The vehicle must be placed in service by the taxpayer by 2010 or later.
Section 1603 of the American Recovery and Reinvestment Tax Act (ARRTA) was a green energy subsidy program created by Congress and signed into law as a part of the 2009 stimulus package. The program was a system of cash grants that was implemented by the U.S. Treasury Department's "Payments for Specified Energy Projects in Lieu of Tax Credits." [1]
Program logo The Toyota Corolla was the program's top seller according to U.S. DoT [1] The Ford Explorer 4WD was the program's top trade-in according to the U.S. DoT [1]. The Car Allowance Rebate System (CARS), colloquially known as "cash for clunkers", was a $3 billion U.S. federal scrappage program intended to provide economic incentives to U.S. residents to purchase a new, more fuel ...
The first-time homebuyer credit is a new tax credit included in the recently enacted Housing and Economic Recovery Act of 2008. For homes purchased in 2008, the credit operates like an interest ...
Claim Your 2009 Tax Refund Before It Disappears. Dan Caplinger. Updated July 14, 2016 at 9:49 PM ... One of the biggest items people miss out on is the Earned Income Tax Credit, which can provide ...
A retractable hardtop convertible was offered for model years 2006-2009. Production ended in 2010 with the discontinuation of the Pontiac line. The final Pontiac branded vehicle was a white G6. With the G6, Pontiac introduced a two-digit naming convention, with the Pontiac G8 a class above the G6 and the Pontiac G5 a class below.
$15 billion: Expansion of child tax credit: A $1,000 credit to more families (even those that do not make enough money to pay income taxes). $14 billion: Expanded college credit to provide a $2,500 expanded tax credit for college tuition and related expenses for 2009 and 2010. The credit is phased out for couples making more than $160,000.
Besides extending the $8,000 tax credit for first time home buyers until April 2010, the Act also provides a $6,500 tax credit for current homeowners who purchase a home between November 6, 2009 and end of April 2010. [7] The Act also increases the income limits to qualify for the credit.
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