- Jul 4, 2021
- Reaction score
I was watching Tunercult on instagram live earlier today and someone asked them about taxes on the cars they give away and the guy was saying that they don't collect the tax amount on the cars when they deliver them to the winners. Instead, the winners pay the taxes during tax season. My question is, does IRS calculate the tax based on the car's value and the winner pay the lumpsome amount while filing their taxes?