Trump and the GOP are now offering a tax deduction for auto loan interest. How will it work?

Bought and financed a new car in 2025? You may deduct up to $10,000 in interest under a new federal tax break. Learn who ...

New tax breaks for tips, overtime pay and car loans come with strict limits that could leave many Americans out this tax season.

The policy, signed into law in July 2025 in the One Big Beautiful Bill Act, comes with significant eligibility restrictions and conditions.

Buyers of new vehicles assembled in the U.S. could boost their tax refunds by hundreds of dollars through a new tax deduction ...

The new Schedule 1-A and updated instructions enable taxpayers to claim the new tax breaks for tips, overtime, car loans and ...

The Schedule 1-A does not differ from the draft version issued last year, but instructions for Form 1040 provide details and ...

New car purchasers could see a tax break in the new year if they’re willing to buy American-made. The Department of the Treasury and the Internal Revenue Service (IRS) released guidance Wednesday on ...

Another same-old, same-old Form 1040 year? Definitely not, say experts who point to a number of significant differences between 2024 and 2025 tax returns, with implications for seniors and car ...

Tax season is here, and several updates have been made to deductions, tax credits, and more. Jackson Hewitt Tax Service chief tax information officer Mark Steber joins Market Catalysts host Julie ...

Many small business owners are pleased to learn that a vehicle they purchased for use in their company may qualify for a Section 179 tax deduction. Carefully using Section 179 vehicles can bring tax ...