Trump's One Big Beautiful Bill includes a $10,000 car loan deduction — but strict rules mean most Americans won't qualify or ...
New tax law allows deduction of up to $10,000 in auto loan interest for U.S.-assembled vehicles Applies to new personal-use vehicles purchased from 2025–2028 Phases out for individuals earning over ...
IRS eases reporting for lenders on 2025 auto loan interest under H.R. 1, allowing borrower statements in place of direct IRS ...
The Republicans' signature tax cut and spending package – dubbed the "big, beautiful bill" – that was signed into law last week touts tax deductions on tips and overtime pay, and also includes a tax ...
Despite the elimination of the federal tax credit for electric vehicles, car buyers still get some tax relief. President Donald Trump’s Big Beautiful Bill includes a provision that allows car buyers ...
Beginning on 2025 tax returns, new car buyers might qualify for an above-the-line deduction of up to $10,000 in car loan interest in a year. Taxpayers will not be able to deduct interest on loans ...
Jeanine Skowronski is an editor, writer, and journalist with more than 15 years of experience in personal finance and business, including roles at Bankrate, CreditCards.com, and Policygenius. Her work ...
The Internal Revenue Service is giving auto lenders some breathing room on new reporting rules tied to the "One Big Beautiful ...
Transitional guidance released by the IRS on Oct. 21 gives auto lenders room for avoiding penalties when it comes to ...
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