Taxpayers who buy a new car assembled in U.S. may be able to deduct up to $10,000 beginning in 2025. To help sort out the ...

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Car buyers may now benefit from a new tax break that allows them to deduct up to $10,000 in auto loan interest each year from their federal income taxes — reducing their taxable income. The provision, ...

Transitional guidance released by the IRS on Oct. 21 gives auto lenders room for avoiding penalties when it comes to reporting requirements.

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 ...

In recent years, owning a car has become not just a convenience but also a symbol of independence for many women. Recognizing ...