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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 tax agency said it's disbursing the funds after reviewing internal data that showed many people had filed tax returns but yet didn't claim what is known as the "recovery rebate credit" in 2021.
The current IRS payments will go to qualified taxpayers who filed a 2021 tax return, but left the Recover Rebate Credit data field blank or wrote in $0. In this case, the taxpayer was eligible for ...
The IRS will send an estimated $2.4 billion to taxpayers who didn’t claim the recovery rebate credit on their 2021 tax returns. About 1 million taxpayers were eligible for the credit but failed ...
Tax rebates that were created by the law were paid to individual U.S. taxpayers during 2008. Most taxpayers below the income limit received a rebate of at least $300 per person ($600 for married couples filing jointly). Eligible taxpayers received, along with their individual payment, $300 per dependent child under the age of 17.
Because many companies did not yet make a profit in 2009 in that industry, they were offered cash instead of tax credits. In September 2015, the U.S. government asked that a Spanish company return $1 million (~$1.26 million in 2023) it had received from the program. The company issued a statement saying it fully complied with the request. [121]