The IRS has issued proposed regulations for the temporary car loan interest deduction enacted under the new tax law.

Many of the most impactful tax provisions in the "One Big Beautiful Bill" (OBBB), which President Trump signed into law on July 4, made expiring changes from the Tax Cuts and Jobs Act (TCJA) of 2017 ...

Taxpayers who buy a new car assembled in the U.S. may be able to deduct up to $10,000 from their taxable income beginning in 2025. To help sort out the details, the IRS is rolling out additional ...