"Don Loweburg, Offline" wrote:
In a message dated 12/12/2001 1:09:21 PM Pacific Standard Time, creuter@rocketmail.com writes:
Don: I have been trying to get to the bottom of the CEC rebate and
the tax liability on what it means to us and the customer concerning
receiving that rebate. Supposedly the CEC will 1099 us on the rebates
that came to us and that would indicate that it s taxable. My tax guy
has tried talking with every agency concerned and never gotten the
same answer twice on the issue. Sandy Miller at the CEC told me they
were trying to get a ruling from the feds to determine that the
rebate was not taxable but then later someone named Mark Baude in
their accouinting office said Sandy wasnt even sure if anyone had
even tried to get a ruling. This whole thing is such a massive grey
area and we have only till january 31st to 1099 all of our
unfortunate customers that stand to loose a third of there hard
earned rebate. I would love your feedback on this and wonder if as a
group we need to put pressure on the CEC or initiate a "private
letter ruling" with the IRS ourselves.Could you please forward this to the wrenches list as I am having
trouble sending to that list for some technical reason. Carl Reuter
Carl,
If you are going to 1099 your customer, why didn't you just have them get the rebate from the CEC?. I am guessing that what you are talking about is that you take the rebate but then feel you need to 1099 the customer. I don't do this. If I , as a dealer, take a rebate, then the CEC 1099s me. I handle that 1099 using any of the standard filing software packages when I do my business tax return.Best, Don
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Subject: rebate and 1099s Date: Wed, 12 Dec 2001 13:02:29 -0800 (PST) From: carl reuter <creuter@rocketmail.com> Reply-To: carl@landandseasolar.com To: I2P@aol.com Don: I have been trying to get to the bottom of the CEC rebate and the tax liability on what it means to us and the customer concerning receiving that rebate. Supposedly the CEC will 1099 us on the rebates that came to us and that would indicate that it s taxable. My tax guy has tried talking with every agency concerned and never gotten the same answer twice on the issue. Sandy Miller at the CEC told me they were trying to get a ruling from the feds to determine that the rebate was not taxable but then later someone named Mark Baude in their accouinting office said Sandy wasnt even sure if anyone had even tried to get a ruling. This whole thing is such a massive grey area and we have only till january 31st to 1099 all of our unfortunate customers that stand to loose a third of there hard earned rebate. I would love your feedback on this and wonder if as a group we need to put pressure on the CEC or initiate a "private letter ruling" with the IRS ourselves. Could you please forward this to the wrenches list as I am having trouble sending to that list for some technical reason. Carl Reuter ===== Land and Sea Solar. Renewable Energy Systems. www.landandseasolar.com Phone:831-440-1470 __________________________________________________ Do You Yahoo!? Check out Yahoo! Shopping and Yahoo! Auctions for all of your unique holiday gifts! Buy at http://shopping.yahoo.com or bid at http://auctions.yahoo.com
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