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California Car Dealers Face Added Tax Bill.(Knight Ridder/Tribune Business News)
Knight Ridder/Tribune Business News, February, 2000 by Moskal, Jerry
Feb. 11--WASHINGTON--Extended car-repair warranties could have several Stockton-area auto dealerships coming up $90,000 short.
That was the gist of a 32-page opinion handed down this week by Judge Joseph Gale in U.S. Tax Court in the nation's capital. The judge upheld an Internal Revenue Service ruling that the dealerships had to pay the additional taxes for 1991 through 1993.
The seven cases resolved a dispute that dates back more than four years over how the Zamora/Wondries dealerships account for the cost of extended-warranty agreements sold to auto purchasers.
"Probably we'll appeal, but first we have to study the opinion before we decide," said Bruce I. Hochman, a Beverly Hills tax attorney. "I am disappointed in the court, because it...
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