Jalopnik: Irs

Watch the fastest IRS Corvette in the world run a seven second ¼ mile

Tom Joslin — Sat, 23 Apr 2011 10:00:00 EDT

Mark Carlyle's street driven C6 Corvette first earned the title of fastest Independent Rear Suspension equipped Corvette in the world last year, but now it's the only IRS in the world that can travel 1320 feet in less than eight seconds. More »

IRS Takes Nissan To Court Over Bermuda Tax Shelter

Justin Hyde — Thu, 06 Jan 2011 16:30:00 EST

The U.S. Internal Revenue Service suspects Nissan North American may have used Bermuda to wrongly shelter some income from U.S. taxes. The agency won a federal court order last week forcing Nissan to surrender paperwork on contracts worth $45.9 million. More »

Xzibit: "Pimp My Ride Made Me Broke"

Matt Hardigree — Wed, 29 Dec 2010 16:30:00 EST

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Alvin Joiner, a.k.a. Xzibit, a.k.a. recursive Internet meme guy, owes nearly $1 million in delinquent federal taxes. His excuse for not paying them? The cancellation of Pimp My Ride. Seriously. More »

Chrysler's Jim Press Owes IRS $1 Million In Bailout Back Taxes

Ray Wert — Fri, 18 Sep 2009 09:45:00 EDT

Despite reportedly receiving an auto bailout-sized bag of cash to leave Toyota for Chrysler, the Freep's reporting out-going Chrysler Deputy CEO Jim "Droopy Dog" Press now owes the U.S. government nearly $1 million in back taxes. More »

Top Ways to Save On Taxes With Your Car

Ben Wojdyla — Fri, 11 Apr 2008 16:41:00 EDT

We're there again, that part of the year when the bony finger of Uncle Sam slips its way into your wallet and takes what it deems to be a fair share of your hard earned money. That's right, it's tax season. That time honored tradition of putting everything off until the last minute then filing as close to midnight on April 15th as possible will be once again in full glory, and local TV will once again run 11PM news coverage of the blessed event. But how about we talk about lowering those taxes the only way we know how *— with your car. More »

IRS Gives Biggest Tax Credit To New Ford Hybrids

Ben Wojdyla — Fri, 28 Mar 2008 12:45:00 EDT

Now that the tax incentives to on the Toyota Prius have run out, the new king of the road for deductions are the hybrid offerings from Ford — the Hybrid Ford Escape and Hybrid Mercury Mariner two wheel drive. The taxman will be giving buyers of the twin hybrids up to $3,000 in deductions in an effort to offset the additional cost associated with purchase. Of course, if and when Ford ever manages to build 60,000 hybrids, those incentives will evaporate just as they have for the Prius. [IRS.gov] More »

IRS Kicks Up Business Mileage Rate For 2008

Travis Hudson — Tue, 05 Feb 2008 10:45:00 EST

I hate to do this, but I'll be that guy. It's time to start thinking about tax season, but fear not you deducting beasts, the IRS's 2008 standard mileage rates have been announced and all of those miles you spend on the road for work this year will be getting a significant bump to 50.5 cents per mile. This means that those 300 miles you had to drive for work is now worth $151.50 in deductions. Don't get too excited, cubicle warriors, this only includes driving done for business purposes, like with delivery drivers, salesmen and others. Your daily, 15 mile commute to the cubicle farm is not included, unfortunately. More »