Gray's Tire and Service Center Hosts Holtville High School Drivers Ed Class: A Community Outreach Success

In the wake of the devastating hurricanes that have ravaged Florida and the Southeast in recent weeks, the Internal Revenue Service reassured victims that it stands ready to provide the tax-related assistance they need to recover from these storms. IRS.gov has a variety of information to help disaster victims navigate common situations in the aftermath of disasters. The IRS also has a special hotline specifically dedicated to taxpayers with disaster-related tax questions; disaster victims can call the agency’s disaster hotline at 866-562-5227. Here is a rundown on tax help available from the IRS. More time to file and pay The IRS automatically gives taxpayers whose address of record is in a disaster-area locality more time to file returns and pay taxes. Taxpayers get the extra time without having to ask for it. Currently, taxpayers in the entire states of Alabama , Florida , Georgia , North Carolina , and South Carolina , and parts of Tennessee and Virginia , who received extensions to file their 2023 returns have until May 1, 2025, to file. Tax-year 2023 tax payments are not eligible for this extension. In addition, May 1 is also the deadline for filing 2024 returns and paying any tax due. The IRS is offering relief to any area designated by the Federal Emergency Management Agency (FEMA) . The current list of eligible localities is always available on the Tax relief in disaster situations page on IRS.gov. This page also provides disaster updates and links to resources, and information is usually available on the IRS Twitter (now X) account as well. Disaster payments usually tax-free Qualified disaster relief payments are generally excluded from gross income. In general, this means that affected taxpayers can exclude from their gross income amounts received from a government agency for reasonable and necessary personal, family, living, or funeral expenses, as well as for the repair or rehabilitation of their home, or for the repair or replacement of its contents. See Publication 525, Taxable and Nontaxable Income , for details. Retirement plan help Additional relief may be available to affected taxpayers who participate in a retirement plan or individual retirement arrangement (IRA). For example, a taxpayer may be eligible to take a special disaster distribution that would not be subject to the additional 10% early distribution tax and allows the taxpayer to spread the income over three years. Taxpayers may also be eligible to make a hardship withdrawal. Each plan or IRA has specific rules and guidance for their participants to follow. Disaster loss deduction may be available In some instances, individuals and businesses in a federally declared disaster area can qualify for a casualty loss tax deduction. The deduction is available for damaged or destroyed property not covered by insurance or other reimbursement and can result in a larger refund. A unique feature of this deduction is that taxpayers can choose to claim it on either the return for the year the loss occurred (in this instance, the 2024 return normally filed next year), or the return for the prior year (the 2023 return filed this year). For individual taxpayers, the deadline for making this election is Oct. 15, 2025. If deductions exceed a taxpayer’s income, it can result in a net operating loss (NOL). A taxpayer need not have a business to have a NOL from a casualty. A NOL can normally be carried forward and deducted in a future tax year. See Publication 547, Casualties, Disasters, and Thefts , and Publication 536, Net Operating Losses (NOLs) for Individuals, Estates, and Trusts , for details. Free tax transcripts available The IRS reminds anyone whose tax records were lost or destroyed, or who needs tax records to apply for disaster assistance that they can get a free transcript of their returns from the IRS. Immediate access to these transcripts is available through the Get Transcript link on IRS.gov. Alternatively, taxpayers can use Get Transcript to request that transcripts be mailed to them. They can also call 800-908-9946 to request mail delivery or submit Form 4506-T, Request for Transcript of Tax Return . As a reminder, taxpayers must have filed all required tax returns in order to qualify for disaster loans or grants for business owners, homeowners, and renters from the Small Business Administration. Free copy of tax return Disaster-area taxpayers can get a free copy of their tax return by filing Form 4506, Request for Copy of Tax Return. The IRS waives the usual fees and expedites requests for copies of returns for people who need them to apply for disaster-related benefits or to file amended returns claiming disaster-related losses. To speed processing, be sure to notate that this is a disaster-related request and list the state and type of event. Address change After a disaster, people might need to temporarily relocate. Those who move should notify the IRS of their new address by submitting Form 8822, Change of Address. Disaster hotline Taxpayers with disaster-related tax questions can call the agency’s disaster hotline at 866-562-5227. Taxpayers should also call this number if they live outside the disaster area but believe they qualify for a disaster-related extension or deadline postponement. This might be true, for example, if their records necessary to meet a deadline occurring during the postponement period are located in the affected area. This also includes workers assisting the relief activities who are affiliated with a recognized government or philanthropic organization. More information The IRS encourages affected taxpayers to review all federal disaster relief at DisasterAssistance.gov. Here are other helpful IRS resources: FAQs for disaster victims Publication 584, Casualty, Disaster, and Theft Loss Workbook (Personal-Use Property) Publication 584-B, Business Casualty, Disaster, and Theft Loss Workbook Publication 547, Casualties, Disasters, and Thefts

Santa Monica, Calif. —A growing number of Americans with auto loans owe more than their cars are currently worth, according to Edmunds. “Consumers owing a grand or two more than their cars are worth isn’t the end of the world, but seeing such a notable share of individuals affected at the $10,000 or even $15,000 level is nothing short of alarming,” said Jessica Caldwell, Edmunds’ head of insights. “A combination of uncontrollable market factors and misguided consumer financial decisions are contributing to the rise of this troubling trend. “On the market factor side, many consumers who purchased new vehicles during the inventory crunch of 2021-2022 paid over MSRP, so they didn’t chip away at the principle of their loans in a traditional manner. On top of that, trade-in values for near-new vehicles are taking a hit as automakers reintroduce incentives. On the consumer behavior side, car shoppers have been increasingly opting into longer loan terms to reduce monthly payments, and they’re also trading in their vehicles earlier than is financially prudent.” Q3 2024 data from Edmunds reveals: The share of Americans who are upside down on their auto loans is on the rise. 24.2% of trade-ins toward new vehicle purchases had negative equity, up from 23.9% in Q2 2024 and 18.5% in Q3 2023. Consumers who are underwater on their car loans owe more money than ever before. The average amount owed on upside-down loans climbed to an all-time high of $6,458, compared to $6,255 in Q2 2024 and $5,808 in Q3 2023. More than 1 in 5 consumers with negative equity owe more than $10,000 on their auto loans. 22% of vehicle owners with negative equity owed $10,000+ on their car loans, and 7.5% of vehicle owners with negative equity owed $15,000+. Analysts note another concerning fact from Edmunds auto finance data: Negative equity is prevalent across all vehicle types being traded in. For example, in Q3 2024, midsize SUVs, compact SUVs and large trucks made up 19.5%, 17.3% and 10.3%, respectively, of all vehicles traded in with negative equity. “It’s easy to assume that only specific consumers trading in higher-ticket luxury vehicles are the ones underwater on their car loans, but the reality is that this is a problem across the board,” said Ivan Drury, Edmunds’ director of insights. Edmunds experts advise that consumers worried about falling into the negative equity trap should try to hold onto their vehicles as long as possible while keeping up with regular maintenance to avoid additional drops in value. Edmunds Q3 Negative Equity Data

Your employees are often your first line of defense in keeping your digital business assets secure. Using regular training programs and implementing a cyber risk management plan can be an effective way to build your line of defense against digital threats that could negatively impact your business, valuable information, and profits. Consider the following: Conduct Frequent Employee Training Phishing Awareness: Teach employees to recognize common phishing tactics, such as suspicious emails and fraudulent links. Safe Browsing Habits: Instruct staff on best practices for navigating the internet securely, including how to identify secure websites. Password Management: Encourage the use of strong, unique passwords and emphasize the importance of changing them regularly. Regular Training: Use simulations and refresher courses to help reinforce cyber security knowledge. Utilize a Risk Management Plan Regular Vulnerability Assessments: Conduct routine checks to identify and evaluate potential cyber risks within the organization. Automated Security Protocols: Implement automated systems to oversee security measures, ensuring timely updates and responses to threats. Incident Response Plans: Develop clear and structured response strategies for addressing data breaches or cyberattacks effectively. Reach out to your local Federated® marketing representative to learn more about cyber safety and other risk management topics.

The Chairman of the Automotive Aftermarket Association Southeast Employee Benefit Fund Board of Trustees is very pleased to announce that the AAAS-sponsored BlueCross BlueShield health insurance program will see its second consecutive rate reduction on January 1, 2025! Further, rates and benefits for the dental, life, and vision insurance programs have remained the same for the fifth year in a row. If you are not participating in these programs, now is the time to look. Many business owners are currently experiencing double-digit rate increases and reductions in benefits from their current providers. In contrast, the association program has achieved its goal of consistency, great benefits, and competitive rates while providing members with an outstanding benefit tool for hiring and training good employees! Contact Matt or Randal if you'd like to learn more about these programs that are exclusively available to AAAS members.

BETHESDA, Md. – September 4, 2024 – The Auto Care Association is proud to announce a significant milestone in the ongoing fight for consumers' Right to Repair. Industry advocates and concerned citizens have now sent over 114,000 letters to Congress, demanding the protection of their right to choose where and how they repair their vehicles. This landmark achievement is a testament to the widespread support for fair competition and consumer choice in the automotive repair industry. A fight for free and fair access The Right to Repair movement is crucial to ensuring that vehicle owners and independent repair shops have access to the necessary tools, data and parts to maintain and repair vehicles, without being locked into costly manufacturer-restricted options. This milestone highlights the power of grassroots advocacy and the collective voice of consumers and industry professionals united in their call for fair legislation. "As we reach this incredible milestone, it’s clear that the issue of Right to Repair resonates deeply with Americans across the country," said Bill Hanvey, president and CEO, Auto Care Association. "This is not just about fixing cars; it's about protecting consumer rights, preserving competition, and ensuring that the auto care industry remains a vibrant, competitive marketplace." Over the past year, the campaign has gained significant traction, with participation from all 50 states. Notably, some of the strongest engagements have come from states such as California, Washington, Texas, New York and Florida, where consumers have voiced their concerns over rising repair costs and limited choices. The volume of letters demonstrates the strength of public sentiment on this issue. Americans want repair freedom A 2024 survey[1] conducted by the Auto Care Association found that 79% of vehicle owners believe they should have the right to choose where their vehicle is repaired, and 82% expressed concern over manufacturers restricting access to repair information. Driving home the need for repair, 84% of shops rank right to repair as their top issue, with 63% currently experiencing issues with accessing repair data. “These numbers highlight the urgent need for Congress to act,” added Hanvey. “The current situation creates a lopsided market where large manufacturers hold all the power, and consumers and independent shops are left at a disadvantage. Ensuring Right to Repair is not just good for consumers—it's vital for the health of our economy.” With over 114,000 letters sent, the message to Congress is clear: consumers and independent businesses alike are calling for laws that ensure equal access to repair information and parts, safeguarding their ability to make informed choices about their vehicles. This milestone comes at a critical time, as Congress continues to consider key legislation like the “REPAIR Act” (H.R. 906) that could shape the future of vehicle repair rights. The Auto Care Association remains committed to advocating for policies that protect the rights of consumers and promote a healthy, competitive industry. "The support we've seen from both industry professionals and everyday consumers is nothing short of inspiring," Hanvey emphasized. "It’s proof that when we work together, we can make a real difference. But the fight is not over. We will continue to push forward until the Right to Repair is fully secured for all Americans." Keep up the momentum The Auto Care Association encourages anyone who hasn't yet participated in this campaign to join the fight by contacting their congressional representatives and adding their voice to this growing movement.

The Ongoing Right to Repair Battle: Understanding the Biden Administration’s Stance The Biden administration recently made headlines by advising car manufacturers not to comply with a Massachusetts law that supports consumers’ right to repair their vehicles. This move has sparked significant debate, particularly because the administration had previously expressed support for right to repair initiatives. A Closer Look at the Right to Repair Law In 2020, Massachusetts voters overwhelmingly passed a law that requires car manufacturers to make diagnostic data accessible wirelessly to consumers and independent auto repair shops. This law was an update to a 2013 regulation that initially focused on providing access to diagnostic tools through physical ports in vehicles. As technology advanced and vehicles became more digitized, the 2020 law aimed to ensure that independent shops and consumers had the same access to wireless diagnostic tools as the manufacturers’ dealerships. However, the National Highway Traffic Safety Administration (NHTSA) recently issued a letter to car manufacturers advising them not to comply with this law, citing concerns over vehicle cybersecurity. The letter stated that the Massachusetts law conflicts with federal safety regulations, leading to a preemption issue that could compromise vehicle safety. The Administration’s Concerns The NHTSA’s main argument against the Massachusetts law revolves around potential cybersecurity risks. They contend that allowing widespread access to wireless diagnostic tools could open the door to hacking, which could endanger public safety. The administration’s stance is that while consumer choice in repair options is important, it should not come at the cost of vehicle safety. This position has disappointed many consumer rights advocates and independent repair shops, who argue that the law is crucial for ensuring that consumers can repair their vehicles without being forced to rely solely on manufacturer-authorized dealers. These groups also point out that there is no concrete evidence to suggest that independent repair shops pose a greater cybersecurity risk than authorized dealers. The Broader Impact This development is just the latest chapter in the ongoing battle over the right to repair. For years, automotive manufacturers have pushed back against legislation that would require them to share diagnostic tools and information, arguing that it compromises safety and intellectual property. On the other hand, consumer advocates argue that without such laws, consumers are left with fewer choices and higher costs for vehicle repairs. The debate is far from over. As technology continues to evolve, so too will the discussions surrounding the balance between consumer rights, safety, and manufacturer control. For now, the Biden administration’s recent guidance to car manufacturers has added another layer of complexity to an already contentious issue. What This Means for Consumers For consumers, the NHTSA’s stance could mean fewer options for affordable vehicle repairs in the short term. However, it also highlights the importance of staying informed and engaged on issues that directly impact consumer rights. As this legal and regulatory battle continues, the ultimate outcome could have far-reaching implications for car owners and the auto repair industry nationwide. 

AAAS Conference & Vendor Fair September 26 - September 29, 2024 Gulf Shores, AL