The law does not automatically provide a tax break for interest on every car loan. Only new car buyers who meet these ...

Taxpayers and businesses are encouraged to review IRS instructions and updates closely as new rules take effect.

On Dec. 31, the Treasury Department released proposed regulations interpreting the new interest deduction for automobile ...

Millions of Americans who drive for work or recently financed a car are heading into tax season with a very different set of ...

The Treasury Department and IRS issued guidance clarifying a new tax deduction for interest paid on qualifying car loans ...

The Internal Revenue Service (IRS) has announced major revisions to the U.S. tax code following the passage of the One, Big, ...

The latest changes come after the passage of the One, Big, Beautiful Bill Act (OBBB), which was signed into law on July 4, ...

For 2025, these autos have a Section 179 tax deduction limit of $12,200 in the first year they are used. In fact, if the ...

The Internal Revenue Service has started to spell out how the new tax law will reshape deductions over the next two filing ...

The IRS has issued proposed regulations for the temporary car loan interest deduction enacted under the new tax law. Here’s a look at the answers to some of your questions about the new deduction.