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Tag Archives: tax deductions

Tax break available on auto purchases

The "Cash for Clunkers" program for new cars may have ended, but the IRS wants to remind taxpayers about another special federal tax deduction available that can help you save money, in some cases hundreds of dollars, on auto purchases. This tax break will allow people who buy a new vehicle in 2009 to deduct the sales and excise taxes they pay when they file their tax return next year. The tax deduction is available on the 2009 federal tax return even for those who claim the standard deduction.

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