New deduction allows taxpayers to deduct up to $10,000 on interest they paid to buy a new American-made vehicle in 2025.
The IRS will allow up to $10,000 in car loan interest deduction starting with 2026 tax filings for the 2025 tax year. This ...
To qualify for the full deduction, your taxable income can’t be more than $100,000 if you’re a single filer or $200,000 if ...
A new deduction will allow taxpayers to deduct the interest they paid on a car loan in 2025. But the car loan must be for a ...
The basics of the car loan interest deduction is that it must be a new vehicle assembled in the United States, with the loan ...
The Treasury Department and the Internal Revenue Service (IRS) issued new guidance on the provision known as "No Taxes on Car ...
Starting your taxes? There’s a new break this year if you bought a car in 2025. Consumer Investigator Rachel DePompa shares ...
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Illinois drivers may soon deduct car loan interest on state taxes
A new bill introduced in the Illinois Senate would allow drivers to write off interest paid on certain car loans, closely ...
The “No Tax on Car Loan Interest” provision allows anyone who’s purchased a car from 2025 on to deduct the interest paid on the loan when they file their taxes. There are a few stipulations before you ...
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