Income Taxes

[songkrai]

X-Plan.

Ford requires your Social Security Number.

Does Ford report the discount to the IRS?

And is this X-Plan treated as regular income?

Any accountants/tax preparers out there?

[songkrai]

Well, I got my X-Plan number. My impression was that they ask for the Social Security Number - which I rarely, if ever, give out to anyone. It states they do. But all they asked for was the last 4.

[Ilovemyford]

Originally Posted by songkrai

Well, I got my X-Plan number. My impression was that they ask for the Social Security Number - which I rarely, if ever, give out to anyone. It states they do. But all they asked for was the last 4.

Don't you have to give you SS number anyway to the dealership, so that they can send for the registration of your vehicle to the state?

[songkrai]

My initial concern was with FORD. They state that the Social Security Number is required. I wrote a letter to FORD 4 years ago when I first found about this program thru an organization I belong to stating that I don't want to give FORD my SSN. I never got a response and I never followed thru.

2007. I bit the bullit and registered for the X-Plan at FORD and all they now want is the last 4 of SSN. I got my number.

In my state, the Social Security Number is not, or does not have to be used for anything related to driver's license nor vehicle registration. With one caveat, after Homeland Security Act, new people who get a driver's license for the first time must provide the SSN. Teenagers, for example. It is not put on driver's license if requested.

So, no, to get new vehicle registered and on road, no SSN is needed. If one gets a loan, then yes, the bank requests it to obtain a loan. The dealer uses it to request a credit report. If one pays cash, or gets a loan from say a Credit Union or Bank, then the dealer never needs the SSN. Nor the state.

Homeland Security has changed some rights to privacy.

[projectSHO89]

The X-plan discount is not income to the buyer. There is nothing reportable to the IRS.

Watch out for the black helicopters......