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    Report: Ford loses $445M judgment against IRS
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    Toward the end of the last millennium, Ford thought it might owe the IRS some money for possibly underpaying taxes between 1983 and 1994. To convince the IRS to halt the accrual of interest on any amount Ford might have underpaid, Ford gave the IRS a lump sum of cash. However, turns out that ...

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    Report: 2014 Mustang could be based on global platform with IRS
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    2010 Ford Mustang GT – Click above for high-res image gallery
    Anxiously awaiting the day that you can stroll into your nearest Ford dealership, plunk down $30,000 dollars and drive away in a brand-new Mustang with an independent rear suspension? You've surely got a few more years to save ...

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    PSA: IRS lowers mileage deduction for 2010 - will you owe more in taxes?
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    When gas prices rose in 2008, one of the few bits of good news was that the federal government was bumping up the business mileage deduction to 55 cents per mile. Now that gas prices have stabilized in 2009, the Internal Revenue Service has reportedly decided to cut back on some of its ...

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    Doh! Dealers learn Cash for Clunkers rebates count as taxable income
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    As you're aware by now, yesterday's big news was H.R. 3435, the emergency legislation passed by the House of Representatives authorizing an additional $2B for the CARS scrappage scheme. As had been widely reported on Thursday, the clunkers program appeared to have run out of money a lot sooner than ...

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    REPORT: S197 Ford Mustang could have had independent rear suspension for $100 per car
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    It seems that any discussion about a modern Ford Mustang inevitably turns into a debate about its solid rear axle. While Ford has done an incredible job of optimizing the pony car's suspension, many still find it unacceptable that such an antiquated technology is used on a modern day performance ...

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    All VW and Mercedes diesels eligible for tax credit
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    We knew last month that the Jetta TDI was qualified for the tax credit. Now, word is out that all of the new-generation clean diesels for Volkswagen (TDI) and Mercedes-Benz (Bluetec) will be joining the elite handful of vehicles that qualify for a federal alternative-powertrain tax credit. Formerly ...

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    Toyota hybrids hit the magic number
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    As far as the Internal Revenue Service is concerned, Toyota Motor Company has hit the magic number. The company is expected to announce the sale of its 60,000th hybrid vehicle, coincidentally the same number at which tax incentives to buy such vehicles is reduced or disappears. Those tax benefits, ...

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    PSA: Still time for the U.S. hybrid tax credit
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    Looking for an easy tax credit? Look no further than the U.S. tax credits for hybrid vehicles. While the program's days are numbered, our friends over at Treehugger tell us that the program isn't extinct yet. 60,000 vehicles is the magic number of hybrid each manufacturer can sell ...

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